Mass., Blue Cross CEO resigns after company loses $150M in 2009

On the heels of Blue Cross Blue Shield of Massachusetts posting a $149 million loss for 2009, CEO Cleve Killingsworth resigned from the insurer on Monday. While Blue Cross went on record as saying that Killingsworth was not forced out, an anonymous source told the Boston Herald that's exactly what happened. In the meantime, former Blue Cross CEO William Van Faasen, who left the company in 2005 with a $16.4 million retirement package, will once again take the reins, but this time on a temporary and pro bono basis. Article