Joseph A. Frick will retire as president and chief executive officer of Independence Blue Cross (IBC), Philadelphia, the company announced.

Frick had served in the post since January 2005.

Daniel J. Hilferty was named to assume the duties of president and CEO on December 15, the effective date of Frick’s retirement.

Frick will serve as a vice chair of IBC’s Board of Directors and lead a newly created board committee that will focus on strategic partnerships .

Hilferty has been executive vice president and president of IBC’s Health Markets since January 1.

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