1. Michael J. Hennigan joins Cigna's Board of Directors effective June 2. 2. Hennigan has extensive leadership experience in regulated markets and energy. 3. He aims to drive growth and enhance value at Cigna. 4. Cigna operates in over 30 countries with 190 million customer relationships.
Hennigan's extensive experience and strategic vision can contribute positively to Cigna's growth and shareholder value. Historical examples show that strong board appointments often correlate with improved company performance, as seen with other health organizations increasing their market share after similar hires.
With Hennigan's track record in leadership and a focus on regulated environments, his appointment can influence strategic decisions at Cigna, impacting its operational landscape and market positioning, thus affecting CI's stock performance.
The strategic initiatives and operational excellence promised by Hennigan may take time to realize, mirroring how other companies have seen gradual improvements following leadership changes. Previous cases, like when broad industry transformations occur, suggest long-term benefits from solidifying leadership.
Global health company The Cigna Group (NYSE:CI) announced today that Michael J. Hennigan has been appointed to the organization's Board of Directors. His appointment is effective June 2.
Mr. Hennigan is the Executive Chairman of Marathon Petroleum Corporation (MPC), an integrated downstream energy company, and MPLX, a diversified master limited partnership formed by MPC. He joined the company in 2017 and previously held the roles of Chief Executive Officer of MPC and Chairman, President and Chief Executive Officer of MPLX. Prior to joining MPLX, Mr. Hennigan was President of Crude, NGL, and Refined Products of the general partner of Energy Transfer Partners L.P. Mr. Hennigan began his career at Sunoco, Inc., and spent more than three decades advancing through roles, ultimately becoming President and Chief Executive Officer of Sunoco Logistics.
"We are delighted to welcome Mike to The Cigna Group's Board of Directors," said David Cordani, President and Chief Executive Officer of The Cigna Group. "Mike is a transformational leader whose extensive business experience and proven track record in leading significant strategic initiatives will be invaluable as we continue to advance our mission. His deep understanding of complex, regulated markets and commitment to operational excellence will help us drive growth, enhance value, and further our commitment to improving our customers' healthcare experiences."
Mr. Hennigan has extensive experience in refining, logistics, and marketing, and has demonstrated strong leadership in managing global business operations. He has dedicated his entire career to the energy industry and therefore possesses a deep understanding of the complexities of a regulated market. His strategic vision and commitment to operational excellence have been instrumental in driving growth and enhancing shareholder value.
Hennigan earned a Bachelor of Science degree in chemical engineering from Drexel University in Philadelphia.
The Cigna Group (NYSE:CI) is a global health company committed to creating a better future built on the vitality of every individual and every community. We relentlessly challenge ourselves to partner and innovate solutions for better health. The Cigna Group includes products and services marketed under Cigna Healthcare, Evernorth Health Services or its subsidiaries. The Cigna Group maintains sales capabilities in more than 30 countries and jurisdictions, and has more than 190 million customer relationships around the world. Learn more at thecignagroup.com.
Jocelyn Parker
313-510-4173
jocelyn.parker@cignaghealthcare.com