RESTON, Virginia, January 16, 2018 /PRNewswire/ --
MAXIMUS (NYSE: MMS), a leading provider
of government services worldwide, announced today that Richard A. Montoni will retire from his role as
Chief Executive Officer effective April 1,
2018. The Board of Directors has unanimously selected
President Bruce L. Caswell to succeed Mr. Montoni as
CEO.
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Since joining MAXIMUS in 2004, Mr. Caswell has held several
senior leadership roles overseeing all segments of the Company's
business. Mr. Caswell's vision and operational leadership
facilitated the growth of the Health Services Segment, the
Company's largest book of business. Under Mr. Caswell's leadership,
the Health Services Segment grew more than 300% over the last ten
years, and he led the Company's strategy in helping governments
navigate major health policy reform efforts and implement solutions
to meet changing requirements. Mr. Caswell expanded the
Company's core capabilities to include a growing level of clinical
expertise within the assessments and appeals portfolio. He
spearheaded the enhancement of the Company's technology,
automation, operational analytics and digital solutions, which
resulted in more streamlined operations and greater operating
leverage through standardized shared services.
Peter B. Pond, Chairman of the
MAXIMUS Board of Directors, commented, "We are pleased to promote
Bruce to the role of Chief Executive Officer and we expect a
seamless transition as he begins this new position. Bruce is a
seasoned operator, well known to the investment community, and a
well-respected thought leader in the implementation of public
policy reform efforts and the delivery of complex solutions to
improve government programs. We are confident that Bruce will draw
from his exemplary record of accomplishment to lead MAXIMUS in
providing high-quality services to governments and delivering
long-term shareholder value."
Mr. Montoni, who will remain at the Company as Senior Advisor to
the CEO, commented, "Bruce is the right choice to succeed as CEO of
MAXIMUS. He possesses the business and leadership skills, broad
industry experience and deep expertise to help guide MAXIMUS in the
future. Having worked with Bruce for more than a decade, I look
forward to supporting him in facilitating the ongoing development
and long-term mission of MAXIMUS. Succession planning has always
been a key component of our long-term strategy, and I thank the
Board for their steadfast support and commitment during my tenure
as CEO."
The MAXIMUS Board of Directors has nominated Mr. Caswell to
stand for election as a director and has nominated Mr. Montoni
to stand for re-election as a director at the Company's Annual
Meeting of Shareholders on March 14,
2018. Upon re-election, Mr. Montoni will also serve as Vice
Chairman.
The Board of Directors offers its sincere appreciation to Mr.
Montoni for his vision to transform MAXIMUS to a highly focused,
preeminent partner to governments around the globe. Since assuming
the role of CEO in 2006, Mr. Montoni created and led the Company's
strategic platform to drive growth, taking MAXIMUS from just under
$600 million in annual revenue to
more than $2.4 billion in fiscal
2017. During his tenure, MAXIMUS capitalized on new legislation,
expanded into new adjacencies, shed non-core businesses, and
entered new geographies. "The Board thanks Rich for these
invaluable contributions and his efforts in generating long-term
shareholder value," commented Mr. Pond.
In addition, MAXIMUS announced the retirement of Wellington E.
Webb as a director of the Company. Mr. Webb served as a director
for 15 years, and the MAXIMUS Board of Directors wishes to express
its gratitude for his dedicated service.
Mr. Pond concluded, "Lastly, the Board would like to thank
Wellington for his insights and
dedicated service to MAXIMUS. We wish him well in his future
endeavors."
About MAXIMUS
Since 1975, MAXIMUS has operated under its founding mission of
Helping Government Serve the People®, enabling
citizens around the globe to successfully engage with their
governments at all levels and across a variety of health and human
services programs. MAXIMUS delivers innovative business process
management and technology solutions that contribute to improved
outcomes for citizens and higher levels of productivity, accuracy,
accountability and efficiency of government-sponsored programs.
With more than 20,000 employees worldwide, MAXIMUS is a proud
partner to government agencies in the
United States, Australia,
Canada, Saudi Arabia, Singapore and the United Kingdom. For more information, visit
maximus.com.
CONTACT:
Lisa Miles
+1-703-251-8637
lisamiles@maximus.com
SOURCE MAXIMUS