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Blue Cross CEO to retire in February

Posted December 11, 2009

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— Blue Cross Blue Shield of North Carolina Chief Executive Bob Greczyn will retire on Feb. 1 after a decade in charge of the state's largest health insurer, the company announced Friday.

During Greczyn’s tenure, Blue Cross membership has nearly doubled, to 3.7 million from 1.9 million at the end of 1999. He also tripled annual revenue at the nonprofit and created an affiliated foundation that has invested $54 million in health and wellness programs statewide.

"The performance of the company under Bob’s leadership speaks for itself,” Dr. Jeff Houpt, chairman of the Blue Cross Board of Trustees, said in a statement. “His innovation has driven this company to new heights. We'll miss him both as a leader of this company, this state and the many roles he's taken with the national Blue Cross and Blue Shield Association.”

Greczyn has been an outspoken critic of President Barack Obama’s proposed health care legislation because of its so-called "public option" provision. The option would create a government-subsidized system to offer coverage to people who cannot obtain private health insurance, and insurers like Blue Cross say the system would drive up their costs.

He and other executives at the insurer also have been criticized in recent months for the compensation they received in 2008. Greczyn earned nearly $4 million, a 23 percent increase from 2007. His pay included a $3 million bonus.

Blue Cross promoted Chief Operating Officer Brad Wilson to president in October in preparation for Greczyn's retirement. He will succeed Greczyn as CEO.

Wilson, who was general counsel for former Gov. Jim Hunt, has worked at Blue Cross since 1995 in several roles, including general counsel and chief administrative officer.

19 Comments

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  • james27613 Dec 11, 2009

    I would run bcbs for $ 1 million and no bonus,
    but I don't have a clue about insurance companies !

    One factor they do not tell us about is that all state
    employees have only one choice, BCBS, so that is one reason
    they have increased memberhsip, no competition.

  • pbjbeach Dec 11, 2009

    I am just wondering what kind of a retirement package he will be carrying out the bcbs door with him when he does retire will it be a platimun or golden parchute that he gets as he bails out the bcbs door. whatever it is i feel sure that the legisture has na will make doubly sure that he will be very well compensated an the most of his compensation package will be comming off of the backs of state employees an their family memberscinsidering all of the latest roud of health care benefits cut an increases in preimums cost that state employees an their family members have had to endure just to help fill this mans pockets an all of the other upper mangament personnel of bcbs insurance co in my estimation they should lose their non- profit statues thank you

  • foetine Dec 11, 2009

    these are the guys who own your Congressmen - don't get confused by the party letters - they're all line up in D.C. to cash their checks from all the insurance firms in order to keep their cartel legal

  • davidgnews Dec 11, 2009

    Wonder what percentage of my premium he's getting?

  • schoobydooyellow Dec 11, 2009

    That's why the best coverage I could get was only a 90 10 policy. The 10% I pay must go straight into his pocket.

  • affirmativediversity Dec 11, 2009

    And no one else thinks it suspicious that the NEW CEO worked for THE DEMOCRATS?????

    Uhmmmm...

  • affirmativediversity Dec 11, 2009

    "THESE are the guys the Republicans are fighting for." per EarthBrooks

    -------------------

    Actually, NO these are not the "guys" Republicans are fighting for!!!!

    That is never more evident that when you HEAR or SEE one of BCBS's multi million dollar ads PAID FOR by BCBS supporting KAY HAGAN and her "hard work on behalf of NC residents and their healthcare"...

    WHY, if BCBS is sooooo against Obamacare did they spend MILLIONS supporting KAY HAGAN????????

    Oh and what EXACTLY do you think a "public option lite" would look like if not a NON PROFIT, QUASI GOVERNMENTAL BEAUROCRACY like say BLUE CROSS BLUE SHEILD...they are GOVERNMENT SUBSIDIZED and PROTECTED so they can treat you like garbage and you've got NO WHERE to go!

    I'll stick with my FOR PROFIT Health Insurance Company that's willing to WORK FOR MY BUSINESS, not take it for granted as their's for the keeping!

  • scot30 Dec 11, 2009

    A $3 million bonus?? I guess that's why all my copays for doctor visits and prescriptions DOUBLED this past year.

    GOOD RIDDANCE TO BAD RUBBISH. DON'T LET THE DOOR HIT YA WHERE THE GOOD LORD SPLIT YA, MR. GRECZYN!!!

  • kevboom Dec 11, 2009

    Let's see, in the past year my state Blue Cross insurance plan increased physician copays, dropped our vision plan, increased the costs of our dental plan, doubled or tripled prescription copays depending on tier to as much as $110 per drug, and instituted a body mass index (BMI) screening to place overweight people in a higher copay bracket. It's pretty bad when even the insured can't afford health care. Good riddance to this CEO. If he's against Obama's health care plan, then I'm for it. I can't imagine a worse scenario than paying more and more for insurance EVERY year and receiving fewer and fewer benefits. Look up the WRAL story from March 4, 2009, "Blue Cross profits, exec pay spark criticism." Apparently the "non-profit" BCBS corporation in North Carolina made $186 million in profits in 2008 and still raised premiums on the insured. Top six executives earned more than $1 million each, and this Greczyn character over $4 million. Good riddance indeed.

  • G-man Dec 11, 2009

    No, we aren't it's easy to fix the insurance companies, without 1900 other pages of give aways.

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