Aetna Names President, Ends 2-Month Search

Aetna Inc. promoted Richard L. Huber, vice chairman of strategy and finance at the health-care and insurance company, to president and chief executive. The appointment ends a two-month period of uncertainty after the resignation of Joseph T. Sebastianelli, who was named Aetna’s president and chief executive in March. Sebastianelli, an executive with a background in health care, said he resigned for personal reasons. In choosing Huber to fill the post, Hartford, Conn.-based Aetna opted for a manager with knowledge of the organization and of finance, rather than expertise in the health-care business that became the company’s focus last year. Ronald E. Compton will stay on as Aetna’s chairman until his planned retirement in February. The promotion of Huber suggests that he is next in line to lead the company after Compton leaves, analysts said. Aetna stock fell $2.44 to close at $112.63 on the NYSE.