By Matthew Arrojas  –  Reporter, South Florida Business Journal

Penny Shaffer will retire as market president of Florida Blue later this year.

Shaffer's retirement will become official on Dec. 31, marking the end of a nearly 16-year tenure as the head of the South Florida division for the insurance company. She joined Florida Blue in May 2006 after previously serving as VP of global operations at AT&T.

"When you add the long career I had at AT&T to my time at Florida Blue, you come up with the most incredible, international and interesting career that I could not have imagined 43 years ago," Shaffer wrote in a LinkedIn post with hundreds of likes. "I have enjoyed more than 15 years with this amazing organization and had the pleasure of serving with the most committed, dedicated and community-focused team ever."

She said she contemplated retirement sooner but decided to stay on in 2020 to help guide Florida Blue through the Covid-19 pandemic. She added that she is not retiring for any health reasons.

In addition to serving as market president at Florida Blue, she is the past chair and board member of the Greater Miami Chamber of Commerce, a member of the executive committee of the United Way of Miami-Dade and a member of the CEO Council and Executive Committee of the Greater Fort Lauderdale Alliance.

Shaffer was a South Florida Business Journal Ultimate CEO Awards honoree in 2016.

"I have been known to 'retire, rewire and rehire' before but want you to know that the immediate future holds extensive travel plans and family time balanced with continuing to lecture at [the University of Miami] and focus on the needs of our community and how I may be able to help," she stated in the post.

The search for Shaffer's successor has already begun, according to a representative at the company