Bruce Bodaken, chairman, president and CEO of Blue Shield of California, announced he will retire at the end of the year. COO Paul Markovich will become president of Blue Shield and a member of its board of directors on June 1, 2012. With Bodaken's departure, Markovich will assume the position of CEO in January 2013.
During Bodaken's tenure at the not-for-profit health plan, Blue Shield saw membership grow by 50 percent and revenues triple. Blue Shield also captured attention for landing numerous large public-sector contracts, launching a foundation that contributes to the healthcare safety net and domestic violence programs in California, and imposing a 2 percent profit cap that paid out almost $475 million last year.
Bodaken joined Blue Shield of California as COO in 1994, and became chairman and CEO in January 2000.
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