Server: Netscape-Enterprise/2.0a Date: Thu, 18 Dec 1997 08:47:44 GMT Accept-ranges: bytes Last-modified: Fri, 05 Dec 1997 18:59:46 GMT Content-length: 4673 Content-type: text/html Aetna Press Release
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RICHARD L. HUBER TO SUCCEED RONALD E. COMPTON AS CHAIRMAN

HARTFORD, CT., December 5, 1997 - Aetna (NYSE: AET) today announced that the Board of Directors has elected Richard L. Huber, 61, to succeed Ronald E. Compton, 64, as Chairman, effective on Mr. Compton’s normal retirement date of March 1, 1998. Mr. Huber will continue to retain the positions of President and CEO.

"I am pleased that Dick will succeed me in assuming the additional role of Chairman of Aetna," Compton said. "Since joining Aetna, Dick has done an outstanding job in partnering with me to reposition the company for long-term growth for our shareholders, customers and employees."

"Aetna today is a company well-positioned to seize the enormous opportunities in each of its markets, and I am excited by the opportunity to serve as its Chairman," said Huber. "My top priority continues to be to deliver consistent, strong top- and bottom-line results, ensuring that Aetna completes its transformation into a growth company."

Mr. Huber joined Aetna as Vice Chairman in February 1995, was named a director in September 1996, and became President and CEO in July 1997. He has 37 years of banking, insurance and financial services experience in the United States, Japan and Latin America.

Immediately before joining Aetna, Mr. Huber was President and Chief Operating Officer, Grupo Wasserstein Perella, responsible for developing investment and merchant banking activities throughout Latin America for Wasserstein Perella, a leading investment banking firm. Prior to that, in 1990, he became Vice Chairman and a director of Continental Bank NA, Chicago, where he worked closely with the Chairman to return the institution to financial strength and profitability and negotiate its eventual sale to Bank of America. While at Continental, Mr. Huber had direct management oversight of the capital markets, risk management, direct equity, Latin America, securities and commodities and financial institutions areas.

From 1988 to 1990, Mr. Huber served as Executive Vice President and head of the capital markets and foreign exchange sector for Chase Manhattan Bank, charged with restructuring and restoring this sector to profitability. From 1973 to 1988, he held various senior management positions with Citibank, including institutional banking head—Brazil; country head—Japan; group executive, Asia Pacific Banking Group; and group executive, Citicorp Investment Bank, overseeing its Latin American investment bank, global corporate finance and insurance businesses.

A native of North Carolina, Mr. Huber graduated from Harvard College in 1958 with a bachelor’s degree in chemistry and subsequently served as an officer in the U.S. Coast Guard. He is a director of Capital Re Corporation, member of the board of directors of the Hartford Ballet, trustee of the Mark Twain House, trustee of Trinity College, member of the Council on Foreign Relations.

Aetna is one of the nation’s largest insurance and financial services organizations, with three primary businesses: Aetna U.S. Healthcare, Aetna Retirement Services and Aetna International.


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