"The healthcare landscape is rapidly changing, and Centene's mission to transform the health of our communities one member at a time has never been more relevant, London added. Since then Sarah has changed 3 companies and 3 roles. "I also want to thank Michael Neidorff, Centene's visionary leader for more than 25 years. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. CENTENE IS COMMITTED TO CORPORATE SUSTAINABILITY . Transforming the health of the community, one person at a time. I'm excited by the tremendous opportunity to leverage the size and scale of this Company to create true, sustaining value for our members, state partners, employees and shareholders.". Object Shot Down Over Canada in Escalating Aerial Drama. We discuss certain of these matters more fully, as well as certain other factors that may affect our business operations, financial condition and results of operations, in our filings with the Securities and Exchange Commission (SEC), including our annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. Due to these important factors and risks, we cannot give assurances with respect to our future performance, including without limitation our ability to maintain adequate premium levels or our ability to control our future medical and selling, general and administrative costs. The Company takes a local approach with local brands and local teams to provide fully integrated, high-quality, and cost-effective services to government-sponsored and commercial healthcare programs, focusing on under-insured and uninsured individuals. The information shown here is a reporting of information included in the company's proxy statement. The most active insiders traders include Michael F Neidorff, Frederick H Eppinger, and Edward L Cahill. Without limiting the foregoing, forward-looking statements often use words such as "believe," "anticipate," "plan," "expect," "estimate," "intend," "seek," "target," "goal," "may," "will," "would," "could," "should," "can," "continue" and other similar words or expressions (and the negative thereof). HealthCare Enterprises is a portfolio of high growth companies independent of Centene health plans, designing differentiated platform capabilities and delivering industry-leading products and . March 22 (Reuters) - U.S health insurer Centene Corp CNC.N on Tuesday named Vice Chairman Sarah London as its new chief executive officer, effective immediately. Biography. Centene focuses on long-term growth and value creation as well as the development of its people, systems, and capabilities so that it can better serve its members, providers, local communities, and government partners. The Board and I are confident that she is the right visionary leader to increase value for our shareholders and author the next chapter of Centene's growth. He continues to be the chairman. [40] Ms. In Illinois alone, over the same period, Centene grew from approximately 16,300 members in the Chicago area to nearly 1 million members in every county in the state. Mr. Neidorff remains on a previously announced medical leave of absence from his position on the Board of the Company. Neidorff remains on a previously announced medical leave of absence from his position on the board of the company. Dont forget you can visit MyAlerts to manage your alerts at any time. Employees in the top 10 percent can make over $103,000 per year, while employees at the bottom 10 percent earn less than $33,000 per year. Sarah London, vice chairman of the board of directors at Centene (NYSE: CNC), has accepted additional responsibilities as CEO of the St. Louis-based health insurer. Prior to her appointment as CEO, Ms. London served as Vice Chairman of the Centene Board of Directors. Sarah London was named Centene CEO, taking over from Michael Neidorff, who will remain the company's chairman. And Centene has expanded into the business of Medicare Advantage, the privatized health benefits myriad health insurers offer senior via contract with the federal government. Centene Corporation's highest paid executives include: Jesse Hunter $4,442,868 and Keith Williamson $3,049,469. Prior to being appointed Chief Executive Officer in 2022, she served as Centene's Vice Chairman, responsible for strategy, technology, pharmacy. ST. LOUIS, March 22, 2022 /PRNewswire/ --Centene Corporation (NYSE: CNC) announced today that Sarah London, Vice Chairman of Centene, has been appointed Chief Executive Officer, effective immediately, succeeding Michael Neidorff. She spent two years working in film production management, first at Creative Artists Agency in Los Angeles, and then at Kennedy/Marshall Co., the company that produced E.T.. Forward-Looking StatementsAll statements, other than statements of current or historical fact, contained in this press release are forward-looking statements. These forward-looking statements reflect our current views with respect to future events and are based on numerous assumptions and assessments made by us in light of our experience and perception of historical trends, current conditions, business strategies, operating environments, future developments and other factors we believe appropriate. 22, 2022 4:57 PM ET Centene Corporation (CNC) By: Dania Nadeem, SA News Editor 4 Comments. "Centene expects to lose an estimated 2.2 million Medicaid members during the redetermination process over the next 18 months, which would significantly dial Together, we can deliver innovative, integrated, and equitable care that meets our members where they live and exceeds their expectations. I'm excited by the tremendous opportunity to leverage the size and scale of this Company to create true, sustaining value for our members, state partners, employees and shareholders. Her strategic thinking, fresh perspective and diverse experience make her the natural leader to harness the potential of Centene," said James Dallas, Acting Chairman of Centene. She replaces Michael Neidorff, who took a medical leave of absence in February 2022. . Since Mr. Neidorff began a medical leave of absence in February 2022, she has been a member of the Office of the Chairman charged with running the day-to-day management of the Company. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. In a March 31 regulatory filing, Centene said its board of directors had approved a compensation package for new CEO Sarah London with an annual base salary of $1.4 million and a cash. There are 29 older and 1 younger executives at Centene. UnitedHealths Optum unit acquired Humedica in 2013. A copy of the press release announcing the events described in Item 5.02 above Sarah London CEO, Centene Tweet More As Centene's first woman CEO, London has been instrumental in helping the insurer boost earnings and grow its core lines of business. Ms. London received a Bachelor of Arts in history and literature from Harvard College and a Master of Business Administration from the University of Chicago Booth School of Business. London takes over a company that is a national player among the biggest names in health insurance, particularly in working with states to manage their Medicaid health insurance for poor Americans and providing individual coverage under the Affordable Care Act. New SEC Custody Rule Would Scare Away Qualified Custodians: Lawyer, Why Secure 2.0s RMD Delay Matters Even More Than Many Think, Long COVID Correlates With High Mortality: Health Insurer, Antitrust Suit Challenging Schwab-TD Ameritrade Deal Can Proceed, Judge Rules, When Medicare Enrollees Return to Work: A Medicare Customer Q&A, How to Attract the Best, Most Overlooked Clients, Divorce Looks Like Forced Early Retirement for Many Wealthy Women, Advisor Says, Advisor Speaks Out on Industry's Treatment of Women. Of this total $0 was received as a salary, $0 was received as a bonus, $0 was received in stock options, $0 was awarded as stock and $0 came from other types of compensation. Ms. London has spent her career at the intersection of health data, technology, and the transformation of value-based care for vulnerable Americans with the greatest needs. . She started in data analytics at Optum and later was a partner in its venture capital arm. March 23, 2022 at 10:20 AM Sarah London is the Chief Executive Officer of Centene Corporation, a diversified healthcare enterprise providing a portfolio of government-sponsored healthcare programs focusing on under-insured and uninsured individuals to more than 26 million Americans. Effective September 7, 2021, the Board of Directors (the "Board") of Centene Corporation (the "Company") elected Sarah M. London as Vice Chairman of the Board of Directors of Centene Corporation and Brent D. Layton as the Company's President and Chief Operating Officer. Chief Executive Officer. Founded in 1984 and headquartered in St. Louis, Missouri, Centene Corporation is a diversified, multi-national healthcare enterprise that provides a portfolio of services to government sponsored and commercial healthcare programs, focusing on under-insured and uninsured individuals. "Sarah has infused an innovative mindset across the enterprise in her relentless effort to improve Centene's capabilities to provide the highest quality of care for our members. Sarah London is the Chief Executive Officer of Centene Corporation, a diversified healthcare enterprise providing a portfolio of government-sponsored healthcare programs focusing on. We have a unique opportunity to empower our members, providers, and their communities in this transformation.. Jan 3, 2023 09:43pm. Delayed Nyse CB Rank (Person) 87,126. Centene executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. And less than a month ago, Centene said Neidorff was taking a medical leave of absence to address what he called a treatable medical condition, putting several executives including London to work to fill the void left by Neidorffs absence. . Senior Planner, Global Meetings & Events. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. 2. Our local approach allows us to help members access high-quality, culturally sensitive healthcare services. The health of individuals drives our focus on the environment, removing social barriers to health, and prioritizing responsible corporate governance. Prior to Centene, she was an Operating Partner at Optum Ventures, the venture capital arm of UnitedHealth Group. Dec 5, 2022. Centene shuffled its senior management ranks Wednesday, elevating Ken Fasola to become president of the health insurer, reporting to chief executive officer Sarah London. ", "I am honored and humbled to have been selected as the next CEO of Centene and to work alongside extraordinary colleagues to provide quality healthcare to over 26 million Americans," said Ms. London. The Company also serves several international markets, and contracts with other healthcare and commercial organizations to provide a variety of specialty services focused on treating the whole person. Jim Murray. Financial and other information about Centene is routinely posted and is accessible on Centene's investor relations website, https://investors.centene.com/. January 12, 2022, 8:01 AM Sarah London, Vice Chairman of Centene, joins Yahoo Finance Live to talk about Centene's health care initiatives, CMS changes, and how they are handling COVID-19. California Weighs $360,000 in Reparations to Eligible Black Residents. The board of Centene has picked Sarah London an executive with roots in venture capital and talent management to succeed Michael Neidorff as the companys CEO. She is on the Board of Directors at Centene Corp. Sarah London. London has spent her career at the forefront of innovation . Her focus has been advancing integrated, value-based care models through the development and application of data-driven insights and technology. London, who has been vice chairman of Centenes board, has led the companys technology and digital strategy while also running the health insurers health care enterprises and specialty divisions, corporate strategy, quality operations, internal audit, compliance and risk management, the company said. . Share & Print. Except as may be otherwise required by law, we undertake no obligation to update or revise the forward-looking statements included in this press release, whether as a result of new information, future events or otherwise, afterthe date hereof. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. The average Centene salary ranges from approximately $36,879 per year for Senior Customer Service Representative to $172,832 per year for Vice President of Compliance. Office phone: (773) 834-4302 Fax: (773) 702-6898 Office: BPSB 125C london@uchicago.edu. o.. Centene Joins Pro Football Hall of Fame for Military Salute to Service in Arizona. Over the last 19 years, insiders at Centene have traded over $220,031,916 worth of Centene stock and bought 89,005 units worth $5,026,837 Musk Made a Mess at Twitter. Without limiting the foregoing, forward-looking statements often use words such as "believe," "anticipate," "plan," "expect," "estimate," "intend," "seek," "target," "goal," "may," "will," "would," "could," "should," "can," "continue" and other similar words or expressions (and the negative thereof). Of this total $0 was received as a salary, $0 was received as a bonus, $0 was received in stock options, $0 was awarded as stock and $0 came from other types of compensation. Neidorff, who is 79 years old and has been Centenes CEO since 1996, also took on a new role as executive chairman until the end of 2022, the company announced in December. Net income dropped 26% to $1.3 billion. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. ST. LOUIS, March 22, 2022 /PRNewswire/ -- Centene Corporation (NYSE: CNC) announced today that Sarah London, Vice Chairman of Centene, has been appointed Chief Executive Officer, effective . Michael built one of the great success stories in American business, and his commitment to providing affordable, high-quality healthcare to our fellow citizens will remain a bedrock of this Company going forward," said Ms. London. Centene offers affordable and high-quality products to nearly 1 in 15 individuals across the nation, including Medicaid and Medicare members (including Medicare Prescription Drug Plans) as well as individuals and families served by theHealth Insurance Marketplace, the TRICARE program, and individuals in correctional facilities. Big Jumps In Diversity Fuel Surge In U.S. Tennis Participation Since 2020, Walgreens-Backed VillageMD Buys 30-Location Physician Group In Connecticut, Banning Abortion Pill Mifepristone Would Set A Dangerous Precedent For The Politicization Of Public Health, Ukraine Wars Toll Of Death, Destruction, Displacement, And Trauma: Fresh Evidence Of Systematic Planning Of Torture Leaves Behind An Indelible Mark, Walmart To Double Health Clinic Footprint As Amazon And Rivals Buy Doctor Offices, Covid-19s Enormous Death Toll: Worldwide Life Expectancy Has Experienced A Steep Decline, Questions Scientists Should Now Explore With Respect To Covid-19, Sustainable Development A Smart Solution for Africa and the Middle East, And less than a month ago, Centene said Neidorff. Total Cash Compensationinformation is comprised of yearly Base Pay and Bonuses. You should not place undue reliance on any forward-looking statements, as actual results may differ materially from projections, estimates, or other forward-looking statements due to a variety of important factors, variables and events including, but not limited to: our ability to accurately predict and effectively manage health benefits and other operating expenses and reserves, including fluctuations in medical utilization rates due to the impact of COVID-19; the risk that the election of new directors, changes in senior management and inability to retain key personnel may create uncertainty or negatively impact our ability to execute quickly and effectively; uncertainty as to the expected financial performance of the combined company following the recent completion of the Magellan Acquisition; the possibility that the expected synergies and value creation from the Magellan Acquisition or the WellCare Acquisition (or other acquired businesses) will not be realized, or will not be realized within the respective expected time periods; the risk that unexpected costs will be incurred in connection with the integration of the Magellan Acquisition or that the integration of Magellan Health will be more difficult or time consuming than expected, or similar risks from other acquisitions we may announce or complete from time to time; disruption from the integration of the Magellan Acquisition or from the integration of the WellCare Acquisition, or similar risks from other acquisitions we may announce or complete from time to time, including potential adverse reactions or changes to business relationships with customers, employees, suppliers or regulators, making it more difficult to maintain business and operational relationships; a downgrade of the credit rating of our indebtedness; competition; membership and revenue declines or unexpected trends; changes in healthcare practices, new technologies, and advances in medicine; increased healthcare costs; changes in economic, political or market conditions; changes in federal or state laws or regulations, including changes with respect to income tax reform or government healthcare programs as well as changes with respect to the Patient Protection and Affordable Care Act and the Health Care and Education Affordability Reconciliation Act (collectively referred to as the ACA) and any regulations enacted thereunder that may result from changing political conditions, the new administration or judicial actions; rate cuts or other payment reductions or delays by governmental payors and other risks and uncertainties affecting our government businesses; our ability to adequately price products; tax matters; disasters or major epidemics; changes in expected contract start dates; provider, state, federal, foreign and other contract changes and timing of regulatory approval of contracts; the expiration, suspension, or termination of our contracts with federal or state governments (including, but not limited to, Medicaid, Medicare, TRICARE or other customers); the difficulty of predicting the timing or outcome of legal or regulatory proceedings or matters, including, but not limited to, our ability to resolve claims and/or allegations made by states with regard to past practices, including at Envolve Pharmacy Solutions, Inc. (Envolve), as our pharmacy benefits manager (PBM) subsidiary, within the reserve estimate we have recorded and on other acceptable terms, or at all, or whether additional claims, reviews or investigations relating to our PBM business will be brought by states, the federal government or shareholder litigants, or government investigations; timing and extent of benefits from strategic value creation initiatives, including the possibility that these initiatives will not be successful, or will not be realized within the expected time periods; challenges to our contract awards; cyber-attacks or other privacy or data security incidents; the exertion of management's time and our resources, and other expenses incurred and business changes required in connection with complying with the undertakings in connection with any regulatory, governmental or third party consents or approvals for acquisitions; changes in expected closing dates, estimated purchase price and accretion for acquisitions; the risk that acquired businesses will not be integrated successfully; restrictions and limitations in connection with our indebtedness; our ability to maintain or achieve improvement in the Centers for Medicare and Medicaid Services (CMS) Star ratings and maintain or achieve improvement in other quality scores in each case that can impact revenue and future growth; availability of debt and equity financing, on terms that are favorable to us; inflation; foreign currency fluctuations and risks and uncertainties discussed in the reports that Centene has filed with the Securities and Exchange Commission.
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