Anthem, which operates Blue Cross and Blue Shield plans in four states, has promoted two senior executives in preparation for its chief executive officer's planned retirement within the next two years.
Indianapolis-based Anthem last week named Larry Glasscock as its president and chief operating officer, designating him as heir apparent to Chairman and CEO L. Ben Lytle. Glasscock, 51, had been senior executive vice president and COO. Lytle, 52, previously indicated that he intends to retire by age 55. He turns 53 in September.
Anthem also announced that Michael Smith, 50, formerly the company's senior vice president of finance, has been named executive vice president and chief financial officer. Smith replaces Patrick Sheridan, who retired as CFO March 31 after 13 years with the company.
Anthem operates Blues plans in Connecticut, Indiana, Kentucky and Ohio. It has deals in the works to acquire Blues plans in Colorado and New Hampshire (April 5, p. 17).