Cigna Inc. is doling out million-dollar retention bonuses to two senior officers to ensure leadership continuity as David M. Cordani prepares to take the reins of the Philadelphia health care company with operations in Bloomfield.
Cordani will become chief executive officer on Jan. 1, succeeding retiring CEO H. Edward Hanway.
As part of the transition, Cordani was elected to Cigna’s board of directors.
According to a Securities and Exchange Commission filing, Cigna’s board also voted to award restricted stock packages to Hanway lieutenants Carol Ann Petren, who is executive vice president and general counsel, and John M. Murabito, executive vice president of human resources and services.
Petren’s stock award is valued at $1.5 million; Murabito’s at $1.15 million, the filing said.
Both awards, issued as part of the company’s long-term incentive plan, carry a Nov. 9 grant date and vest after four years, on Nov. 9, 2013.
Cigna said the awards ensure that it “retains their continued service over the long-term.’’ (GREGORY SEAY)
Comcast up 22 percent
Comcast Corp., which has cable TV, phone and online service throughout Connecticut, reported a 22 percent increase in third-quarter earnings after stepping up promotions on its bundled video, phone and Internet plans.
The nation’s largest cable TV operator also said it sees signs the economy is stabilizing.
But investors are more anxious to find out how the purchase of a 51 percent stake in NBC Universal would burden Comcast’s finances.
A deal between Comcast and Fairfield-based General Electric Co., which owns 80 percent of NBC Universal, could be announced soon.
Comcast is expected to pony up cash and its cable networks and help shoulder NBC Universal’s debt in a $30 billion deal that would transform Comcast into one of the world’s most powerful media companies.
Its shares rose 14 cents to $14.65 in premarket trading.
In the third quarter, Comcast earned $944 million, or 33 cents per share, compared with $771 million, or 26 cents, in the same quarter a year earlier. (AP)
