RALEIGH, N.C. -- Blue Cross and Blue Shield gave raises to some top executives, but others took pay cuts as profits fell at North Carolina's largest insurer last year.
The News & Observer of Raleigh reported Friday that former CEO Bob Greczyn received total compensation of more than $4 million, about 2 percent more than a year earlier. Greczyn retired Feb. 1.
In its annual report to the state Insurance Department, Blue Cross reported that new CEO Brad Wilson earned more than $1.8 million in 2009, also about a 2 percent raise. Wilson took over the
top job last month.
Of Blue Cross' top 10 executives, several took pay cuts for 2009, including the chief medical officer and at least two vice presidents.
Blue Cross reported its profit was down about 42 percent in 2009 from a year earlier.
Information from: The News & Observer
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