Healthways has elected John W. Ballantine as its new chairman of the board, succeeding longtime company chairman Thomas Cigarran.

Ballantine, 65, is the former executive vice president and chief risk management officer of First Chicago NBD Corp. He has served on the company’s board since 2003 and has served on its compensation committee, nominating and corporate governance committee, and most recently as chairman of the audit committee.

“We are excited and proud to have John as our board chairman,” said Healthways President and CEO Ben Leedle. “His capabilities and expertise have been clearly demonstrated in his various leadership and board positions. We have come to deeply value his counsel and judgment and look forward to his leadership of our board.”

Cigarran, a Healthways founder and its chairman since 1988, chose not to seek re-election as chairman, but he will continue to serve as a director and has been appointed chairman emeritus.

In addition to his governance role at Healthways, Ballantine is a director of asset management firm DWS Funds and Portland General Electric. He also serves as a member of the executive network advisory board of private equity firm Glencoe Capital.