New faces, yet same old story at Aetna

Personnel changes at the troubled insurer aren't expected to have an immediate effect on physicians.

By Cheryl Jackson, AMNews staff. April 16, 2001.

Although there's lots of shaking going on at the top of Aetna Inc., doctors and analysts say management moves are expected to have little impact on the company's bottom line and physician pocketbooks for now.

Aetna chief executive John Rowe, MD, as expected, replaced William H. Donaldson as chairman April 1. Last month, Ronald A. Williams left WellPoint Health Networks, where he headed the Large Group Division and was president of the Blue Cross of California subsidiary, to become Aetna's executive vice president and chief of health operations.

In February, William C. Popik, MD, left his post as senior vice president and national medical director at CIGNA HealthCare to become Aetna's chief medical officer.

"They're just more changes in a very long process," said Todd Richter, an analyst at Banc of America Securities in New York.

Williams' hire, though, has been met with some enthusiasm from investment analysts.

"It's a big and very positive turn for the company," Richter said. "But one or two or four people can't turn a company as large and as troubled as Aetna around overnight."

Aetna has been trying to repair frayed relationships with doctors and other health care professionals as well as improve earnings.

When Richard L. Huber left as president, chairman and chief executive early last year under pressure from shareholders who wanted healthier profits, other senior officers also exited. [...]