CIGNA Searching For New CFO

CIGNA Corporation (NYSE: CI) has announced its CFO and EVP, Annmarie Hagan will be leaving her position effective immediately, and current treasurer Thomas McCarthy will act as CFO (also effective immediately) until the position can be filled permanently, according to Deutsche Bank.

Hagan has only served as the company's CFO since May 2009, and while Cigna did not reaffirm guidance in its press release, they did note that Hagan's departure "was note caused by any dispute of disagreement over the Company's accounting principles or practices, financial statement disclosures, ethics policy or otherwise."

Deutsche Bank maintains its Hold rating and $40 price target.

CIGNA Corporation closed yesterday at $32.22.