BlueCross of SC CEO retires from state's largest insurer, replacement named

COLUMBIA - BlueCross BlueShield of South Carolina chief executive David Pankau has retired after 12 years of leading the state's largest health insurance company.

Pankau has become the insurer's chairman of the board, according to a July 5 statement.

Michael Mizeur, who previously was BlueCross' president and chief operating officer, took over as CEO on July 1.

The insurance company employs over 10,000 workers, making it one of the largest businesses headquartered in the Capital City, according to the Richland County Economic Development Office.

BlueCross also is the provider for the state government's insurance plan. It has contracts with the U.S. Department of Defense health program and Medicare.

Pankau was already a 17-year veteran of the company when he took over operations after former CEO Ed Sellers retired in 2010.

"With this transition, I am honored to continue my involvement with the leadership of our organization serving as chairman of the board," Pankau said in a statement. "Like many, I feel extremely fortunate to have been able to build a career here and to be part of such a successful, growing and vibrant company."

Mizeur has worked for BlueCross BlueShield for 24 years, including as chief financial officer. He was appointed president and chief operating officer last year as part of the company's leadership succession plan. Before BlueCross BlueShield, Mizeur worked for the accounting firm Ernst & Young.

"Our leadership team and our employees are one of the best groups of management and staff of any Blue plan in the country," Mizeur said in a statement. "I appreciate their support over the years, as well as the confidence the board of directors has in me to lead one of South Carolina's oldest and largest companies."

Mizeur has a bachelor's degree from Western Michigan University and a master's degree in business administration from Duke University.