The outgoing executive's duties will be split between and president and an interim CEO, the company said.
Health Care Service Corporation (HCSC) announced the departure Wednesday of President and CEO Paula Steiner, who had led the Chicago-based health insurer three and a half years.
The company's announcement credited Steiner with expanding HCSC's Medicare and Medicaid programs and stabilizing its presence in the Affordable Care Act exchange market, but it didn't offer a reason for her exit.
"Paula led the company through significant industry change and oversaw our continued diversification and steady growth," said HCSC board chair Milton Carroll in a statement expressing gratitude and well-wishes.
Steiner's duties overseeing health plans with more than 16 million members nationwide will be split between a president and an interim CEO, the company said.
Maurice Smith, who has been with the company more than two decades and who was named president of Blue Cross and Blue Shield of Illinois in 2015, was named HCSC's new president.
David J. Lesar, CPA, MBA, who was CEO of Halliburton Energy Services Inc. for 17 years and who joined the HCSC board last year, was named interim CEO while the company. A search for Steiner's permanent successor "will begin immediately," according to the announcement.
"The Board has complete confidence in Dave and Maurice to lead our great company forward," Carroll said in the statement. "As we look to the future and our next generation of leadership, our commitment to standing with our members in sickness and health will not change."
HCSC is an independent licensee of the Blue Cross and Blue Shield Association. It describes itself as the nation's fourth-largest health insurer overall, with health plans in Illinois, Montana, New Mexico, Oklahoma, and Texas.
Steven Porter is an associate content manager and Strategy editor for HealthLeaders, a Simplify Compliance brand.