ST.
LOUIS, Aug. 15, 2024 /PRNewswire/ -- Centene
Corporation (NYSE: CNC) ("the Company") announced today that it has
appointed Thomas R. Greco to the
Centene Board of Directors, effective Aug.
9, 2024. Mr. Greco's term will run through the Company's
2025 annual meeting of stockholders. The appointment of Mr. Greco
expands Centene's Board of Directors to 11 members.
Mr. Greco is a seasoned operator and executive who brings more
than four decades of public company leadership and expertise to
Centene. Over the course of his career, he has implemented growth
strategies and fostered talent development and diversity for
consumer-focused companies. He most recently served as President
and Chief Executive Officer (CEO) of Advance Auto Parts, Inc., a
Raleigh-based automotive parts
retailer, from 2016 to 2023. Prior to his tenure at Advance Auto
Parts, Mr. Greco spent three decades in roles of increasing
responsibility at PepsiCo before becoming CEO of Frito-Lay North America in 2011.
"Tom's leadership and expertise, particularly in the area of
consumer marketing, will be a valuable addition to the Centene
Board as we work to transform the health of 28.5 million
Americans," said Centene CEO Sarah M.
London. "We are pleased to welcome him to the Board of
Directors and look forward to his contributions in support of our
members and our mission."
Mr. Greco currently serves on the boards of Tapestry, Inc., a
publicly traded, multinational fashion company, the Sabra Dipping
Company LLC, a joint venture between PepsiCo and the Strauss Group,
and the American Heart Association. A longtime advocate for
cardiovascular health, Mr. Greco has been actively involved in
several initiatives aimed at enhancing the nutritional profile of
consumer products throughout his career.
"Tom brings a unique combination of energy, leadership
experience and consumer focus to apply to the healthcare industry,"
said Chairman of the Board Frederick H. Eppinger.
"I'm passionate about Centene's commitment to help its members
live healthier lives," said Mr. Greco. "It is an honor to join the
Board of Directors and apply my skills to help advance the
Company's mission."
About Centene Corporation
Centene Corporation, a Fortune 500 company, is a leading healthcare
enterprise that is committed to helping people live healthier
lives. 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. Centene offers affordable and high-quality products to
more than 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 the Health Insurance
Marketplace and the TRICARE program. The Company also contracts
with other healthcare and commercial organizations to provide a
variety of specialty services focused on treating the whole person.
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.
Centene uses its investor relations website to publish important
information about the Company, including information that may be
deemed material to investors. Financial and other information about
Centene is routinely posted and is accessible on Centene's investor
relations website, http://investors.centene.com/.
Forward-Looking Statements
All statements,
other than statements of current or historical fact, contained in
this press release are forward-looking statements. 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). Centene Corporation and its
subsidiaries (Centene, the Company, our or we) intends such
forward-looking statements to be covered by the safe-harbor
provisions for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995, and we are including this
statement for purposes of complying with these safe-harbor
provisions. In particular, these statements include, without
limitation, statements about expected contract start dates and
terms, our future operating or financial performance, market
opportunity, competition, expected activities in connection with
completed and future acquisitions and dispositions, our investments
and the adequacy of our available cash resources. 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. 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. These statements are not
guarantees of future performance and are subject to risks,
uncertainties and assumptions. All forward-looking statements
included in this press release are based on information available
to us on the date hereof. 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, after
the date hereof. 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 design and price
products that are competitive and/or actuarially sound including
but not limited to any impacts resulting from Medicaid
redeterminations; 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; our ability to
accurately predict and effectively manage health benefits and other
operating expenses and reserves, including fluctuations in medical
utilization rates; competition, including for providers, broker
distribution networks, contract reprocurements and organic growth;
our ability to adequately anticipate demand and provide for
operational resources to maintain service level requirements; our
ability to manage our information systems effectively; disruption,
unexpected costs, or similar risks from business transactions,
including acquisitions, divestitures, and changes in our
relationships with third parties; impairments to real estate,
investments, goodwill, and intangible assets; changes in senior
management, loss of one or more key personnel or an inability to
attract, hire, integrate and retain skilled personnel; membership
and revenue declines or unexpected trends; rate cuts or other
payment reductions or delays by governmental payors and other risks
and uncertainties affecting our government businesses; changes in
healthcare practices, new technologies, and advances in
medicine; our ability to effectively and ethically use
artificial intelligence and machine learning in compliance with
applicable laws; increased healthcare costs; inflation and interest
rates; the effect of social, economic, and political conditions and
geopolitical events, including as a result of changes in U.S.
presidential administrations or Congress; changes in 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; uncertainty
concerning government shutdowns, debt ceilings or funding; tax
matters; disasters, climate-related incidents, acts of war or
aggression or major epidemics; changes in expected contract start
dates; changes in provider, broker, vendor, state, federal and
other contracts and delays in the timing of regulatory approval of
contracts, including due to protests; the expiration, suspension,
or termination of our contracts with federal or state governments
(including, but not limited to, Medicaid, Medicare or other
customers); the difficulty of predicting the timing or outcome of
legal or regulatory audits, investigations, proceedings or matters,
including, but not limited to, our ability to resolve claims and/or
allegations made by states with regard to past practices on
acceptable terms, or at all, or whether additional claims, reviews
or investigations will be brought by states, the federal government
or shareholder litigants, or government investigations; challenges
to our contract awards; cyber-attacks or other data security
incidents; or our failure to comply with applicable privacy, data
or security laws and regulations; the exertion of
management's time and our resources, and other expenses incurred
and business changes required in connection with complying with the
terms of our contracts and the undertakings in connection with any
regulatory, governmental, or third party consents or approvals for
acquisitions or dispositions; any changes in expected closing
dates, estimated purchase price, or accretion for acquisitions or
dispositions; losses in our investment portfolio; restrictions and
limitations in connection with our indebtedness; a downgrade of our
corporate family rating, issuer rating or credit rating of our
indebtedness; the availability of debt and equity financing on
terms that are favorable to us and risks and uncertainties
discussed in the reports that Centene has filed with the Securities
and Exchange Commission (SEC). This list of important factors is
not intended to be exhaustive. 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 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.
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SOURCE CENTENE CORPORATION