Page 25 - ARUBA TODAY

BUSINESS Thursday 1 June 2017
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Aetna in talks to move its headquarters out of Connecticut

By PAT EATON-ROBB to 1819.
Associated Press. Gov. Dannel P. Malloy said
HARTFORD, Conn. (AP) Connecticut is working to
— Aetna announced ensure Aetna will remain a
Wednesday that it is in major employer in the state
negotiations to move its and has offered it incen-
headquarters out of Con- tives “including matching
necticut’s capital, where it anything put on the table
has been based for almost from a competing state
two centuries. in order to keep Aetna’s
Mark Bertolini, the chief ex- headquarters and jobs
ecutive of the insurance gi- here in Connecticut.”
ant, said Wednesday that Malloy said the state also
the company is in nego- has promised to bolster
tiations with several states workforce development
about moving its corpo- around Aetna’s needs, im-
rate base, with the goal prove transportation in the
of broadening access to region “make our state an
innovation and talent that even better and more re-
will fill “knowledge econo- sponsive marketplace for
my-type” positions. them and other insurers.”
“We remain committed But the Democratic gov-
to our Connecticut-based ernor acknowledged the
employees and the Hart- company has not respond-
ford campus, and hope to ed to the offer and likely will A pedestrian walks by a sign at Aetna headquarters in Hartford, Conn. Hartford’s Mayor Luke Bro-
have a final resolution by move its headquarters and nin said Wednesday, May 31, 2017, that he believes Aetna is planning to move its headquarters
early summer,” he said in a some jobs to a major urban out of Connecticut. The mayor released a statement saying that he has had multiple conversa-
statement. center. He said, “Hartford is tions with senior leaders at the insurance giant and believes the company decided a long time
Aetna, the nation’s third- not ever going to be New ago to relocate their corporate headquarters. (AP Photo/Jessica Hill)
largest health insurer, has a York or Boston.”
workforce of almost 50,000 “There is no book about executive wants to be is Electric as a longtime Con- Fairfield, broke ground on
and employs about 6,000 corporate relocation that the most important factor,” necticut corporation mov- its new corporate head-
people in Connecticut. It doesn’t make the following he said. ing out of the state. GE, quarters in Boston earlier in
traces its roots in Hartford point: that where the chief
Aetna would join General which had been based in May.q

A pushback by investors over executive pay at Mylan

By The Associated Press lergy treatment. Dutch pension fund. from about $3 billion over Shares are up four-fold
Put off by what they see as Lawmakers challenged The institutional investment the past 15 years, and its since 2002, but the harsh
exorbitant pay for Mylan Mylan last year for its EpiPen funds say they want Mylan stock price also has soared spotlight over spiking drug
executives, some big pen- pricing, which has climbed NV, with its U.S. headquar- over the longer time frame. prices has taken a toll.
sion funds are attempting more than 500 percent ters based just outside of “During Mr. Coury’s long In the past 12 months, a pe-
to block the re-election of since 2007. CVS is now sell- Pittsburgh, held account- tenure, Mylan has deliv- riod of time that includes
a number of board mem- ing a rival, generic version able for a “costly record ered strong financial per- the appearance before
bers, including Chairman of EpiPen at about a sixth of compensation, risk and formance and shareholder Congress of current CEO
and former CEO Robert of the price of the brand- compliance failures.” growth, and his new com- Heather Bresch to explain
Coury, who received $100 name version of the life- Mylan said in an emailed pensation structure contin- Mylan’s decision to hike
million last year. saving allergy treatment. statement Wednesday ues to be aligned with the prices on some drugs, its
They say huge paychecks The New York City and New that its board has overseen (company’s) stock per- shares have fallen 10 per-
were awarded to execu- York State comptrollers a consistent strategy that formance while providing cent. The shares have fallen
tives while backlash from both signed a letter sent to creates long-term value shareholders with the ben- more than 6 percent in the
consumers and the U.S. shareholders, as did a rep- for its shareholders. It noted efit of his continued leader- three months leading up
government escalated resentative of the Califor- that the company’s market ship and guidance in set- to the annual shareholders
over prices Mylan charged nia State Teachers’ Retire- capitalization has swelled ting Mylan’s strategic direc- meeting that takes place in
for its EpiPen emergency al- ment System and PGGM, a to more than $20 billion tion,” the company said. three weeks.q