VHI HEALTHCARE has this afternoon announced that the insurer’s chief executive, Jimmy Tolan, is to leave the firm later this year.
Tolan, who took over as chief executive in May 2008, is required to give VHI’s board of directors six months’ notice of his departure, and will step down in November.
VHI chairman Bernard Collins said it had accepted his resignation “with regret”.
Tolan had been “an outstanding CEO, focused on both improving Vhi customers’ healthcare outcomes and also ensuring the long-term financial sustainability of the organisation.
“He has overseen a number of innovations including the adoption of a comprehensive wellness strategy for the years ahead.”
Tolan, who had been CEO of banana importer Fyffes before joining VHI, is to return to the private sector.
Tolan came under significant pressure earlier this year when VHI raised health insurance premiums by around 15 per cent – and then refusing to disclose his salary, or whether he had taken a pay cut in advance of premiums being increased.