Gettin' while the gettin' is good? Bob Greczyn to retire as CEO of BCBSofNC

Let's hope that might be the reason, since Blue Cross and Blue Shield of North Carolina CEO Bob Greczyn is stepping down from his job next year, however Greczyn was not available for comment on his impending retirement. Back in 2001 - 2002, Greczyn tried unsuccessfully to take BCBSofNC from a non-profit company to a for-profit company.

According to the Progressive Pulse in May of this year, as Blue Cross and Blue Shield of North Carolina was busy bamboozling the State Health Plan, cutting radio ads to attack state employees, and plotting commercials to bash President Barack Obama’s health reform effort, CEO Bob Grezcyn raked in $3.99 million in pay for 2008. http://pulse.ncpolicywatch.org/2009/05/19/bcbsnc-ceo-bob-greczyn-is-one-of-the-highest-paid-insuranc...

Not bad for a non-profit business! I wonder what even more stratospheric numbers would have been acheived by Mr. Grezcyn if he had succeeded in turning the company into a for-profit business?

Bob Greczyn will retire as CEO of Blue Cross and Blue Shield of North Carolina Inc. next year, the Chapel Hill-based health insurer announced Monday.

BCBSNC has named its chief operating officer, J. Bradley Wilson, as Greczyn's successor. He will step into Greczyn's role as president, effective immediately, while also retaining his COO title. Greczyn will stay on as CEO until his retirement.

Since Greczyn, 58, took over as CEO in 1998, Blue Cross and Blue Shield of North Carolina has grown from 1.7 million customers, to 3.1 million customers. He led an unsuccessful bid to convert the nonprofit insurer into a for-profit company in 2001 and 2002 but continued to build the state's largest provider of health care coverage even after that stinging defeat.

A retirement date hasn’t been set. A news release issued by BCBSNC did not offer a reason for Greczyn's decision to retire next year. BCBSNC said that Greczyn would not be available for comment.

The state's largest health insurer instead chose to focus on Wilson, 56.

“We’re pleased to have found a person who is very experienced at Blue Cross and Blue Shield of North Carolina and who, throughout his life, has been committed to improving the lives of North Carolinians,” Dr. Jeff Houpt, BCBSNC's board chairman, said of Wilson in the news release. “This culminates a very thoughtful process by the board of trustees which has been under way for more than a year. We feel it has produced the right leadership to take our company forward during these times of change in health care.”

http://triangle.bizjournals.com/triangle/stories/2009/10/12/daily10.html

Doesn't it just send a tingle up your spine to know that our next BCBSofNC CEO, will be committed to improving the lives of North Carolinians? Well, at least one North Carolinian's bank account balance will be improving....

Comments

Non-profit

They keep using those words. I do not think it means what they think it means.

North Carolina. Turning the South Blue!

Salaries at non-profits

BCBSNC board and countless media lapdogs are clueless.

The Charlotte United Way executive was trashed nationally for a much lower salary than Bobby enjoys.

I wonder which "non-profit" contracts with McClatchy-NC for health benefits?

If so, why?

If not, why not?