Summary
Cigna Group (CI) filed an 8-K on September 15, 2023, to announce significant changes in executive compensation for two key officers, Noelle K. Eder and Nicole S. Jones. These adjustments are a direct response to the expansion of their roles and responsibilities within the company, effective September 14, 2023. Ms. Eder, formerly Executive Vice President of Technology and Operations, now heads a newly formed Technology and Operations function, while Ms. Jones, Executive Vice President, Chief Administrative Officer and General Counsel, has assumed additional oversight of the Human Resources function. In light of these expanded duties, both Ms. Eder and Ms. Jones have been granted updated compensation packages. Their base annual salaries have been increased to $850,000, and their annual target compensation for the Enterprise Incentive Plan (EIP) and Long-term Incentive (LTI) plans for FY 2023 have each been set at $900,000 and $3,250,000, respectively. These compensation changes underscore the company's recognition of the increased scope and importance of these executive positions, signaling a strategic alignment of leadership roles with critical business functions.
Key Highlights
- 1Cigna Group announced executive compensation adjustments for Noelle K. Eder and Nicole S. Jones.
- 2The compensation changes reflect expanded responsibilities for both officers, effective September 14, 2023.
- 3Noelle K. Eder now leads the new Technology and Operations function.
- 4Nicole S. Jones has assumed additional responsibility for the Human Resources function.
- 5Both executives received an increase in base annual salary to $850,000.
- 6Annual target compensation for the Enterprise Incentive Plan (FY 2023) for both is $900,000.
- 7Annual target compensation for the Long-term Incentive Plan (FY 2023) for both is $3,250,000.