Michael Wise is stepping down as president and CEO of ConnectiCare, effective Feb. 1. His replacement, Eric Galvin, previously served as senior vice president and chief financial officer. A Connecticut native, Galvin worked for Blue Cross Blue Shield South Carolina before joining Farmington-based ConnectiCare in 2015; all told, he has more than 20 years of experience in the health care industry, including nearly 15 years at Cigna.
“Eric is a trusted leader who understands the value ConnectiCare brings to the market and will ensure a seamless continuation of our commitment to serving the people of Connecticut and Western Massachusetts,” said Karen Ignagni, CEO of EmblemHealth, which acquired ConnectiCare in 2005.
No reason was given for Wise’s departure, though the company’s recent performance – in November, it said it was on pace to lose $55.4 million in 2016 – and the mixed public signals that Wise sent about whether the insurer would remain on the state’s health insurance exchange Access Health CT (it ultimately decided to stay) were likely factors.
“Michael has been a strong leader whose dedication and performance has made ConnectiCare a pivotal player on the state and national scene,” Ignagni said. “While Michael will be missed, he has put in place a talented and capable executive leadership team that will carry on ConnectiCare’s commitment to Connecticut – providing high quality, affordable health care coverage to our friends and neighbors across the state.”