Brian Evanko named President and Chief Operating Officer, The Cigna Group
Ann Dennison named Executive Vice President and Chief Financial Officer, The Cigna Group
Nicole Jones, Chief Administrative Officer and General Counsel, to assume oversight of Enterprise Marketing
Eric Palmer, President and Chief Executive Officer of Evernorth Health Services, to depart The Cigna Group
Reaffirms Full Year 2025 Financial Outlook

BLOOMFIELD, Conn., March 13, 2025 /PRNewswire/ -- The Cigna Group (NYSE:CI), a global health company, today announced leadership changes designed to further drive the company's focus on customers and patients and accelerate its growth strategy.

"These leadership changes create a sharpened structure to build upon our strengths for continued growth, enhance our customer focus, and deliver even greater value for those we serve," said David M. Cordani, Chairman and Chief Executive Officer (CEO), The Cigna Group. "The bedrock of our continued success is our exceptional talent. We have one of the most experienced leadership teams in the industry to ensure that we deliver on the bold commitments we have set for ourselves for growth and to further our impact."

Brian Evanko named President and Chief Operating Officer, The Cigna Group

Brian Evanko has been named President and Chief Operating Officer (COO), The Cigna Group, with responsibility for all business lines reporting to Chairman and CEO David Cordani, effective March 31. In January 2024, Evanko was named President and Chief Executive Officer for Cigna Healthcare with oversight of all Cigna Healthcare businesses. Evanko also serves as the company's Chief Financial Officer, a role he has held since 2021. Since joining the company in 1998, Evanko has served in a variety of key commercial and functional leadership roles in the U.S. and abroad.

Cordani continued, "Aligning our Evernorth Health Services and Cigna Healthcare businesses under a single leader will accelerate innovation to enhance how we serve our stakeholders. Brian's combination of market perspective, deep business acumen, and keen focus on execution and value creation make him uniquely suited to lead the next chapter of our company's growth."

Ann Dennison named Executive Vice President and Chief Financial Officer, The Cigna Group

Ann Dennison has been named Executive Vice President and Chief Financial Officer, The Cigna Group, reporting to David Cordani and joining the company's Enterprise Leadership Team. In this capacity, Dennison will have responsibility for all enterprise financial operations and functions. Prior to joining Cigna in early 2024 as Deputy CFO, Dennison was Executive Vice President and the Chief Financial Officer at Nasdaq, where she led a global team responsible for corporate finance, treasury, planning and analysis, investor relations, ESG reporting, procurement and real estate. She joined Nasdaq in 2015 as Senior Vice President, Controller and Chief Accounting Officer, and prior to that, she was a Managing Director and Head of Financial Reporting at Goldman Sachs.

Nicole Jones, Chief Administrative Officer and General Counsel, to assume oversight of Enterprise Marketing

Nicole Jones will expand her portfolio of responsibilities to include Enterprise Marketing. This alignment brings together Marketing with other functions Jones already leads including Public Affairs, Federal and State Government Affairs, Communications, Legal, and Human Resources functions.

Eric Palmer, President and Chief Executive Officer, Evernorth Health Services, and Executive Vice President, Enterprise Strategy to Depart The Cigna Group

Eric Palmer is departing The Cigna Group at the end of April. Palmer has had a successful more than 25-year career with the company, serving in key business, finance, strategy, and actuarial roles. He currently oversees the Evernorth Health Services business, which has expanded its service capabilities during Palmer's tenure and today is well-positioned for continued, sustained growth.

Cordani concluded, "I would like to extend my gratitude to Eric for his leadership, commitment, and many contributions over his tenure at Cigna. He has left a positive mark on the company and our ability to serve the diverse needs of millions of customers and patients. We wish him all the best."

Reaffirms Full Year 2025 Financial Outlook

The Company is reaffirming projected full-year 2025 consolidated adjusted income from operations of at least $29.50 per share. The Company is also reaffirming 2025 Evernorth pre-tax adjusted income from operations of at least $7.2 billion, and Cigna Healthcare pre-tax adjusted income from operations of at least $4.1 billion.

The Cigna Group previously discussed its full year 2025 outlook in its press release and investor presentation dated January 30, 2025, and during the related investor conference call. The press release, presentation, and the conference call transcript are available in the Investor Relations section of The Cigna Group's website located at www.thecignagroup.com.

Forward-looking statements in these documents and the related call speak only as of the date they were made.

About The Cigna Group

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 markets and jurisdictions and has approximately 182 million customer relationships around the world. Learn more at thecignagroup.com.

Disclosures

Adjusted income (loss) from operations is a principal financial measure of profitability used by The Cigna Group's management because it presents the underlying results of operations of The Cigna Group's businesses and facilitates analysis of trends in underlying revenue, expenses and shareholders' net income (loss). Adjusted income (loss) from operations is defined as shareholders' net income (loss) (or income (loss) before income taxes less pre-tax income (loss) attributable to noncontrolling interests for the segment metric) excluding net investment gains/losses, amortization of acquired intangible assets and special items. The Cigna Group's share of certain investment results of its joint ventures reported in the Cigna Healthcare segment using the equity method of accounting are also excluded. Special items are matters that management believes are not representative of the underlying results of operations due to their nature or size. Adjusted income (loss) from operations is measured on an after-tax basis for consolidated results and on a pre-tax basis for segment results. Consolidated adjusted income (loss) from operations is not determined in accordance with GAAP and should not be viewed as a substitute for the most directly comparable GAAP measure, shareholders' net income (loss).

Management is not able to provide a reconciliation of adjusted income from operations to shareholders' net income (loss) (including on a per share basis) on a forward-looking basis because it is unable to predict, without unreasonable effort, certain components thereof including (i) future net investment results and (ii) future special items. These items are inherently uncertain and depend on various factors, many of which are beyond The Cigna Group's control. As such, any associated estimate and its impact on shareholders' net income and total revenues could vary materially.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release and oral statements made with respect to information contained in this press release, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on The Cigna Group's current expectations and projections about future trends, events and uncertainties. These statements are not historical facts. Forward-looking statements may include, among others, statements concerning our projected adjusted income from operations outlook for 2025 on a per share basis, and other statements regarding our future beliefs, expectations, plans, intentions, liquidity, cash flows, financial condition or performance. You may identify forward-looking statements by the use of words such as "believe," "expect," "project," "plan," "intend," "anticipate," "estimate," "predict," "potential," "may," "should," "will" or other words or expressions of similar meaning, although not all forward-looking statements contain such terms.

Forward-looking statements are subject to risks and uncertainties, both known and unknown, that could cause actual results to differ materially from those expressed or implied in forward-looking statements. Such risks and uncertainties include, but are not limited to: our ability to achieve our strategic and operational initiatives; our ability to adapt to changes in an evolving and rapidly changing industry; our ability to compete effectively, differentiate our products and services from those of our competitors and maintain or increase market share; price competition and other pressures that could compress our margins or result in premiums that are insufficient to cover the cost of services delivered to our customers; the potential for actual claims to exceed our estimates related to expected medical claims; our ability to develop and maintain satisfactory relationships with health care payors, physicians, hospitals, other health service providers and with producers and consultants; our ability to maintain relationships with one or more key pharmaceutical manufacturers or if payments made or discounts provided decline; changes in the pharmacy provider marketplace or pharmacy networks; changes in drug pricing or industry pricing benchmarks; our ability to invest in and properly maintain our information technology and other business systems; our ability to prevent or contain effects of a potential cyberattack or other privacy or data security incident; risks related to our use of artificial intelligence and machine learning; political, legal, operational, regulatory, economic and other risks that could affect our multinational operations, including currency exchange rates; risks related to strategic transactions and realization of the expected benefits of such transactions, as well as integration or separation difficulties or underperformance relative to expectations, which could lead to an impairment charge; dependence on success of relationships with third parties; risk of significant disruption within our operations or among key suppliers or third parties; potential liability in connection with managing medical practices and operating pharmacies, onsite clinics and other types of medical facilities; the substantial level of government regulation over our business and the potential effects of new laws or regulations or changes in existing laws or regulations; uncertainties surrounding participation in government-sponsored programs such as Medicare; the outcome of litigation, regulatory audits and investigations; compliance with applicable privacy, security and data laws, regulations and standards; potential failure of our prevention, detection and control systems; unfavorable economic and market conditions, the risk of a recession or other economic downturn and resulting impact on employment metrics, stock market or changes in interest rates and risks related to a downgrade in financial strength ratings of our insurance subsidiaries; the impact of our significant indebtedness and the potential for further indebtedness in the future; credit risk related to our reinsurers; as well as more specific risks and uncertainties discussed in our most recent report on Form 10-K and subsequent reports on Forms 10-Q and 8-K available through the Investor Relations section of www.thecignagroup.com. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made, are not guarantees of future performance or results, and are subject to risks, uncertainties and assumptions that are difficult to predict or quantify. The Cigna Group undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by law.

Media Contact:

Justine Sessions

Justine.sessions@evernorth.com

Investor Relations Contact:

Ralph Giacobbe

Ralph.Giacobbe@thecignagroup.com

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SOURCE The Cigna Group

The Cigna Group announces leadership changes to accelerate the company's growth strategy