Blue Cross and Blue Shield of Rhode Island Board Chairman Frank Montanaro announced that he will resign his post when his appointment ends on April 30, according to company spokeswoman Kim Keough.
No specific reason was cited for Montanaros resignation, but the 74-year-olds tenure has not been without controversy. Last year, Montanaro, who is also president of the State Association of Firefighters, came under fire for participating in a contract arbitration decision that required the city of Providence to hire the Rhode Island Blues as administrator of the firefighters healthcare plan. Montanaro never revealed he was chairman of the insurance benefits company, according to news reports.
Montanaro has been a member of the insurance companys board since 1991, and served as secretary from 2002 to 2004. He became chairman in 2004. The Rhode Island Blues board is currently seeking a replacement for Montanaro. -- by Shawn Rhea