Health Care Service Corp. (HCSC), the largest customer-owned health insurer in the U.S., announced Thursday that President and CEO Pat Hemmingway will be retiring at the end of the year.
HCSC's Board of Directors selected Executive Vice President and Chief Strategy Officer Paula Steiner to take on the role of president immediately. She will become CEO at the beginning of 2016. Steiner previously served as the corporation's chief marketing executive and as a senior vice president in charge of emerging markets.
Hemmingway has worked with HCSC for 23 years, serving the past seven years as its president and CEO.
"Pat's leadership has been nothing short of remarkable. Given her experience, her tenacity to solve tough issues and her ability to lead people, Pat has been the ideal CEO to navigate this company so successfully through the twists and turns of our industry over the last several years," HCSC Chairman Milton Carroll said. "On behalf of our nearly 16 million members and 20,000 employees, I'd like to thank Pat for her commitment to make a difference in people's lives every day and for making sure we're on solid footing to do so for years to come."
HCSC, headquartered in Chicago, specializes in health insurance and is consumer owned. It reports approximately 16 million members in Illinois, Montana, Oklahoma, New Mexico and Texas.