ST. LOUIS, March 1, 2021 /PRNewswire/ -- Centene
Corporation (NYSE: CNC) today announced four executive leadership
appointments to support the company's continued growth and
innovation. Effective March 1, 2021,
the following appointments have been made:
- Brent Layton has been appointed
to President of U.S. Health plans, Products, and International. He
will retain his Executive Vice President title. Mr. Layton has
worked with Centene for over 20 years, first as a consultant for
five years and then joining Centene as an employee in 2006. Mr.
Layton has overseen the development and implementation of new
health plans and international operations, as well as being on the
front lines in Centene's approach with state governments in
developing effective and innovative managed care programs.
- Sarah London has been appointed
to President, Health Care Enterprises and Executive Vice President,
Advanced Technology. HealthCare Enterprises is a portfolio of
companies independent of Centene health plans, designing
differentiated platform capabilities and delivering
industry-leading products and services to third-party customers.
Ms. London is currently leading the Magellan integration.
Previously, she served as a Partner for Optum Ventures, working
closely with portfolio companies on product strategy and
expansion.
- Shannon Bagley has been
appointed to Executive Vice President, Chief Administrative
Officer. Ms. Bagley joined Centene in 2003 and has held positions
with increasing responsibility. She has co-led the company's Human
Resources department since 2017 and is also responsible for the
Diversity and Inclusion office, Facilities and Real Estate and
Security. She previously served as President and Chief Executive
Officer for Home State Health, Vice President of Internal Audit and
Risk Management and Health Plan Controller. Ms. Bagley has overseen
the development and execution of Centene's talent strategy, Centene
University, employee experience and HR modernization.
- H. Robert Sanders has been
appointed to Executive Vice President, Global Human Resources. Mr.
Sanders joined Centene in 2003 and has been responsible for all
aspects of employee compensation and benefits, HR operations and
international HR for the enterprise. In Mr. Sanders expanded role,
he will oversee Centene's entire HR department.
Mr. Layton, Ms. London, and Ms. Bagley will continue to report
to Michael Neidorff, Chairman, President and Chief Executive
Officer of Centene.
"Centene remains focused on innovation, growth, and agility and
these leadership enhancements align with key areas of growth for
the company," said Mr. Neidorff. "Brent, Sarah, Shannon and
Bob have been integral to our leadership team and, with their new
roles, will help us further our commitment to transforming our
healthcare model to meet the evolving needs of our members,
providers, customers and shareholders."
About Centene Corporation
Centene Corporation, a Fortune 50 company, is a leading
multi-national 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 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 the Health Insurance Marketplace, the TRICARE program, and
individuals in correctional facilities. 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. Centene focuses on long-term growth and 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 (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 our future operating or
financial performance, market opportunity, growth strategy,
competition, expected activities in completed and future
acquisitions, including statements about the impact of our proposed
acquisition of Magellan Health (the Magellan Acquisition), our
recently completed acquisition of WellCare Health Plans, Inc.
(WellCare and such acquisition, the WellCare Acquisition), other
recent and future acquisitions, 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: the impact of COVID-19 on global
markets, economic conditions, the healthcare industry and our
results of operations and the response by governments and other
third parties; the risk that regulatory or other approvals required
for the Magellan Acquisition may be delayed or not obtained or are
obtained subject to conditions that are not anticipated that could
require the exertion of management's time and our resources or
otherwise have an adverse effect on us; the risk that Magellan
Health's stockholders do not approve the definitive merger
agreement; the possibility that certain conditions to the
consummation of the Magellan Acquisition will not be satisfied or
completed on a timely basis and accordingly the Magellan
Acquisition may not be consummated on a timely basis or at all;
uncertainty as to the expected financial performance of the
combined company following completion of the Magellan Acquisition;
the possibility that the expected synergies and value creation from
the Magellan Acquisition or the WellCare Acquisition will not be
realized, or will not be realized within the applicable expected
time periods; 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 the Magellan Acquisition; the risk that unexpected costs will
be incurred in connection with the completion and/or integration of
the Magellan Acquisition or that the integration of Magellan Health
will be more difficult or time consuming than expected; the risk
that potential litigation in connection with the Magellan
Acquisition may affect the timing or occurrence of the Magellan
Acquisition or result in significant costs of defense,
indemnification and liability; a downgrade of the credit rating of
our indebtedness, which could give rise to an obligation to redeem
existing indebtedness; the possibility that competing offers will
be made to acquire Magellan Health; the inability to retain key
personnel; disruption from the announcement, pendency and/or
completion and/or integration of the Magellan Acquisition or 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; 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; 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 (ACA) 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, including the ultimate outcome in "Texas v. United States of America" regarding the
constitutionality of the ACA; 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 pending or future
legal and regulatory proceedings or government investigations;
challenges to our contract awards; cyber-attacks or other privacy
or data security incidents; the possibility that the expected
synergies and value creation from acquired businesses, including
businesses we may acquire in the future, will not be realized, or
will not be realized within the expected time period; 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; disruption
caused by significant completed and pending acquisitions making it
more difficult to maintain business and operational relationships;
the risk that unexpected costs will be incurred in connection with
the completion and/or integration of acquisition transactions;
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. 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
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.
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SOURCE Centene Corporation