Blue Cross CEO got $8.6m in exit deal - The Boston Globe
Blue Cross CEO got $8.6m in exit deal - The Boston Globe
FORMER CEO OF BLUE CROSS“The payment I got was consistent with my contract — no more, no less,” said Cleve L. Killingsworth of his severance package.
Cleve L. Killingsworth, who abruptly resigned last March as chief executive of the nonprofit Blue Cross Blue Shield of Massachusetts, collected $8.6 million in compensation from the state’s largest health insurer in 2010.
The rich package — which included $1.4 million in severance pay, with more money to follow — was detailed in a Blue Cross filing with the state Division of Insurance yesterday. It touched off a volley of criticism at a time when government and business officials, including Blue Cross’s leaders, have been struggling to restrain health care costs.
FORMER CEO OF BLUE CROSS“The payment I got was consistent with my contract — no more, no less,” said Cleve L. Killingsworth of his severance package.
Cleve L. Killingsworth, who abruptly resigned last March as chief executive of the nonprofit Blue Cross Blue Shield of Massachusetts, collected $8.6 million in compensation from the state’s largest health insurer in 2010.
The rich package — which included $1.4 million in severance pay, with more money to follow — was detailed in a Blue Cross filing with the state Division of Insurance yesterday. It touched off a volley of criticism at a time when government and business officials, including Blue Cross’s leaders, have been struggling to restrain health care costs.
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