Reply #61: The former CEO of California Blue Cross Blue Shield [View All]

[ikojo]

(parent company Wellpoint) did VERY well when Wellpoint merged with Anthem Blue Cross Blue Shield...very well indeed....


http://findarticles.com/p/articles/mi_kmusa/is_200411/ai_n8610332

snip

Commissioner John Garamendi was the last major stumbling block to the $16.4 billion deal, delaying the merger of a piece of the company, Blue Cross Life & Health, over which he had jurisdiction. His main concerns were costs to policyholders and the size of executives' golden parachutes, estimated at $200 million to $600 million.

WellPoint CEO Leonard Schaeffer alone is expected to get a package worth $53.5 million in cash, stock options and pension payments when the deal is completed.