Centene CEO Neidorff To Take Medical Leave – Forbes
Chairman and CEO of Centene, Michael F. Neidorff will take a medical leave of absence, the company … [+]
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Centene chairman and CEO Michael Neidorff will take a “medical leave of absence” to address what he called a “treatable medical condition,” the company said Thursday.
Centene, which said the board of directors approved a request from Neidorff for the medical leave, named James Dallas as Acting Chairman of the Board. Centene, which sells an array of government subsidized health insurance including Obamacare, is already working on a permanent successor to Neidorff.
Centene didn’t specify how long the medical leave would last or what Neidorff’s medical condition was.
Centene previously announced in December Neidorff’s plan to retire later this year. Neidorff, who is 79 years old and has been Centene’s CEO since 1996, also took on a new role as executive chairman until the end of 2022, the company announced in December. Given Thursday’s news of a medical leave, the company said several executives will work to fill the void left by Neidorff’s absence in the near term.
“Effective immediately, day-to-day management of the Company will be led on an interim basis by an expanded Office of the Chairman, consisting of Sarah London, Vice Chairman of the Board; Brent Layton, President and Chief Operating Officer; Drew Asher, Chief Financial Officer; and Shannon Bagley, Chief Administrative Officer,” Centene said Thursday,” Centene said Thursday.
Under Neidorff, Centene has grown into a national healthcare giant with revenues that eclipsed $126 billion in 2021 as more Americans sign up for Medicaid, the health insurance for low income patients it manages via contracts with states and individual coverage under the Affordable Care Act known as Obamacare hits record levels. 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.
“I have full faith and confidence in this leadership team and their ability to execute on Centene’s Value Creation strategy,” Neidorff said in a statement provided by the company. “As I deal with a treatable medical condition, I want to thank the team for their ongoing work and dedication to lead this exceptional company.”
