Puerto Rico managed care provider Triple-S Management Corp. announced Monday the retirement of Ramón Ruiz-Comas, its president and chief executive officer, effective Jan. 1, 2016.
The company also announced that its Board of Directors has selected Roberto García-Rodríguez, its chief operating officer, to succeed Ruiz-Comas immediately following his retirement. Ruiz-Comas will remain in his current post until that time, continuing to handle his day-to-day responsibilities and assisting in the transition of his executive functions.
“Throughout his tenure, Ramón and the board have been well aware of the importance of identifying and cultivating managerial talent, as well as the need for effective succession planning,” said Board Chairman Luis Clavell.
“After a thorough evaluation process, the board concluded that Bobby embodies the vision, experience, and business acumen necessary to chart the company’s future growth path. Although Ramón will be greatly missed, the board and I have the utmost confidence in Bobby’s capabilities and he has our full support,” he said.
García-Rodríguez joined Triple-S in 2008 and has held positions of increasing responsibility and scope, including general counsel, corporate secretary and COO. In his current role, he reports directly to Ruiz-Comas, oversees all operational matters, and is spearheading the multi-year strategic transformation program now underway at Triple-S.
“I am honored to be given the opportunity to carry on Ramón’s legacy and lead a talented executive team at one of Puerto Rico’s largest and most successful companies,” García-Rodríguez said.
“The strategic transformation we are now pursuing will better position Triple-S to thrive in the rapidly changing health care market and deliver substantial value to all of our stakeholders,” he said.
Ruiz-Comas has had a 25-year career at the Triple-S, during which he worked on behalf of customers, employees and shareholders. He joined Triple-S as vice president of finance in 1990, held multiple positions over the ensuing decade, and was named CEO of Triple-S Management Corp. in 2002.
Under his leadership, Ruiz-Comas engineered Triple-S’ transition from a nonprofit entity to a for-profit company, culminating in the successful December 2007 initial public offering and simultaneous listing on the New York Stock Exchange.
Moreover, he oversaw the streamlining of the company’s dual-capital structure, which helped to increase the trading liquidity of the listed securities and provided for the orderly disposition of the shares into the market.
On the business front, he led the consolidation of the Blue Cross Blue Shield brand in Puerto Rico and its expansion into Costa Rica. In addition, premiums earned at Triple-S grew approximately 84 percent and member enrollment increased more than 50 percent; the Medicare Advantage operation was launched; and several key strategic acquisitions were consummated.