David M. Cordani, an 18-year employee of CIGNA, has officially become the insurer’s new chief executive officer.

David M. Cordani

In June, Philadelphia, Pa.-based CIGNA announced its chairman and CEO, H. Edward Hanway, would retire following a six-month transition period. The health insurer announced it would split Hanway’s responsibilities, assigning the CEO title to Cordani and naming Isaiah “Ike” Harris Jr. as chairman of its board of directors.

Cordani, 43, became CIGNA’s president and chief operating officer in 2008 and will retain the title of president. Harris, 57, previously served CIGNA as vice chairman of the board and has been a CIGNA director for the past five years.

“David has guided the corporation to industry-leading service and clinical results in the face of a global recession as our president and chief operating officer,” Harris said in a statement. “He has led our strategic planning effort which sets the stage for continued growth. David is a passionate leader and the board of directors and I are looking forward to working with him in the coming years.”

Cordani, who already serves as the insurer’s president, said CIGNA is “positioned to be the leading global health service company” and the insurer is “excited about the opportunities for growth for years to come.

“At CIGNA, we have continued to innovate our products, clinical and service programs and are positioned to do well in a changing global marketplace by delivering better, differentiated value to our customers and clients,” the new CEO said in a statement.

Cordani joined CIGNA in 1991. In his role as president and chief operating officer of the insurer, he had strategic and operational responsibility for CIGNA’s HealthCare, Group Insurance and International businesses.