1. 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.". Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX. Sign up for enewsletters and alerts to receive breaking news and in-depth coverage of healthcare events and trends, as they happen, right to your inbox. As Centenes first woman CEO, London has been instrumental in helping the insurer boost earnings and grow its core lines of business. 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, the announcement said. Our local approach allows us to help members access high-quality, culturally sensitive healthcare services. Author of the article: Reuters . 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. 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. Her strategic thinking, fresh perspective and diverse experience make her the natural leader to harness the potential of Centene, Dallas said. Musk Made a Mess at Twitter. Centene Corp. CNC (U.S.: NYSE) View All companies AT CLOSE 4:03 PM EST 01/05/23 $77.26 USD -2.20 -2.77% AFTER HOURS 6:24 PM EST 01/05/23 $76.26 -1.00 -1.29% AFTER HOURS Vol 211,456 Volume. Biography. Search jobs. Forward-Looking StatementsAll statements, other than statements of current or historical fact, contained in this press release are forward-looking statements. The most recent stock trade was executed by Andrew Lynn Asher on 9 February 2023, trading 6,800 units of CNC stock currently worth $489,124. Ms. London received an M.B.A. with High Honors from the University of Chicago Booth School of Business and a B.A. Get alerted any time new stories match your search criteria. Centene Corporation announced that Sarah London, vice chairman of Centene, has been appointed chief executive officer, effective immediately, succeeding Michael Neidorff. 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. 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. London succeeds Michael Neidorff, who went on medical leave late last month, the company said. 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. 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. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. Brent Layton, President and Chief Operating Officer of Centene, stated, "Sarah brings a tremendous skillset to the leadership of Centene Corporation, and I'm excited to partner closely with her as Centene begins our journey into the next era of our history. The health of individuals drives our focus on the environment, removing social barriers to health, and prioritizing responsible corporate governance. VP of Advanced Technology & Vice Chairman at Centene. Mr. Neidorff remains on a previously announced medical leave of absence from his position on the Board of the Company. Prior to Optum Ventures, Ms. London served as Chief Product Officer for Optum Analytics, the business unit responsible for driving strategy and commercialization of Optum's integrated data and analytics solutions into the provider, payer and life sciences markets. We have a unique opportunity to empower our members, providers, and their communities in this transformation. And finally I'll walk through our updated full-year guidance. Chief Financial Officer. Twitter Revenue, Earnings Fell About 40% in December, WSJ Says, John Malone andCharter Directors Agree to $87.5 Million Settlement, China E-Commerce Giant JD Set for $1.4 Billion Discount Spree, Between Rounds of Golf, Trumps Searching for the Perfect DeSantis Diss, Your Saturday UK Briefing: Sunak Chalks Up a Win as the Budget Looms, Harrods Shrugs Off Recession Fears as Rich Get Richer, FT Says, Wealthy NYC Family Feuds Over $258 Million Madison Avenue Sale, Tom Sizemore, 'Saving Private Ryan' Actor, Dies at 61, The Exhibit Reality TV Show PittingArtist Against ArtistIs No Masterpiece. 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. St. L. Link Centene website Since our founding as a single healthcare plan in 1984, Centene is focused on improving the health of the communities we serve. 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. . 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. Ms. London has spent her career at the forefront of innovation in healthcare. Centene fell about 1.4% to close at $75.34 in New York on Wednesday, giving the St. Louis-based company a market value of about $44 billion. But how CEO Sarah London decides to move the company. .advancing integrated, value-based care models through the development and application of data-driven insights and technology. Londons promotion to CEO is effective immediately, Centene said. Between June 2021 and January 2022, Centene agreed to settlements with several states on behalf of their subsidiary, Envolve, a pharmacy benefit manager, including Ohio, Mississippi, Illinois, Arkansas, and New Hampshire to resolve allegations of overpayments to the PBM from the states' Medicaid programs. Prior to her appointment as CEO, Ms. London served as Vice Chairman of the Company, and in her management role was responsible for a portfolio of companies independent of Centene's health plans, designing differentiated platform capabilities, and delivering industry-leading products and services to third-party customers. In her management role, Ms. London led the Company's technology and digital strategy in addition to running the Health Care Enterprises and Specialty divisions, Corporate Strategy, Quality Operations, Internal Audit, Compliance and Risk Management. By their nature, forward-looking statements involve known and unknown risks and uncertainties and are subject to change because they relate to events and depend on circumstances that will occur in the future, including economic, regulatory, competitive and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, No Major Offer Expected on Childcare in UK Budget, Biden Gives Medal of Honor to Trailblazing Special Forces Member, Climate Change Is Launching a MutantSeed Space Race, UK Braces for Rare Weather Event That Risks Late-Winter Freeze, This Former Factory Is Now New Taipeis Edgiest Project, What Do You Want to See in a Covid Memorial? Her focus has been advancing integrated, value-based care models through the development and application of data-driven insights and technology. Centene Corporation, a Fortune 25 company, is a leading healthcare enterprise that is committed to helping people live healthier lives. 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. Together, we can deliver innovative, integrated, and equitable care that meets our members where they live and exceeds their expectations. Biography. "I also want to thank Michael Neidorff, Centene's visionary leader for more than 25 years. Ms. London previously served as the Company's Senior Vice President of Technology Innovation and Modernization, responsible for enterprise-wide technology strategy and execution with a focus on next-generation products and services. . Gender Female. JPMorgan Downgrades Centene to Neutral From Overweight, Adjusts Price Target to $90 Fro.. Analyst recommendations: BP, Centene, Experian, Intel, Walgreens.. CENTENE CORP Management's Discussion and Analysis of Financial Condition and Results -Flexible schedules -Paid holidays including a floater to accommodate cultural differences -Compensation overall is okay -No meeting black out days to give focus days to get things done -CEO Sarah London is extremely smart, progressive, forward thinking leader -Potential of 14 week paid maternity leave -Earned time -Front loaded sick time. Centenes large size and central role in behavioral care management mean that it could affect what retirement planning clients Medicare plans look like, what the plans will cost, and how both working-age and older clients plans cover mental health care, behavioral health care and other types of care. 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. We have a unique opportunity to empower our members, providers, and their communities in this transformation. All content is posted anonymously by employees working at Centene. Chicago/NYC. The salaries that employees earn in Centene can be influenced by the department or organization function that they work in. Ms. London previously served as Vice President of Client Services & Operations with Humedica, a venture-backed healthcare data and analytics company acquired by Optum in 2013. A copy of the press release announcing the events described in Item 5.02 above Centene was once a regional health insurer. 5.0 . You may opt-out by. 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. She later worked for the company that produced "E.T.". Mr. Neidorff remains on a previously announced medical leave of absence from his position on the Board of the Company. Copyright 2023 Surperformance. 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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