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Article: Abramson resigns from Aetna's board of directors.(Knight Ridder Newspapers)
- Article from:
- Knight Ridder/Tribune News Service
- Article date:
- June 7, 2000
- Author:
CopyrightCOPYRIGHT 2000 Knight-Ridder/Tribune News Service. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PHILADELPHIA _ Leonard Abramson, the one-time pharmacist who created U.S. Healthcare and received a $900 million windfall from selling it to Aetna Inc., Wednesday announced his resignation from the insurer's board of directors.
Analysts said his departure is part of a housecleaning by Aetna's new chief executive, William H. Donaldson, and follows the exits of several executives whom Abramson had hand-picked before selling the company in 1996.
"What we're seeing is the new CEO wanting to make a clean break from all the U.S. Healthcare people and their culture," said William McKeever, a managing director at PaineWebber in New York.
Abramson, 67, ...