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. . Object Shot Down Over Canada in Escalating Aerial Drama. Associate Professor . Ms. London has spent her career at the forefront of innovation in healthcare. Forward-Looking StatementsAll statements, other than statements of current or historical fact, contained in this press release are forward-looking statements. In their new roles, Ms. London and Mr. Layton will each report to . In Illinois alone, over the same period, Centene grew from approximately 16,300 members in the Chicago area to nearly 1 million members in every county in the state. All forward-looking statements included in this press release are based on information available to us on the date hereof. 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. 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. Effective with her election as Vice Chairman, Ms. London will have a base salary of $1,250,000 and a target annual cash bonus of 150% of her base salary. She is on the Board of Directors at Centene Corp. Currently, Sarah London works as a Chief Executive Officer at Centene. CENTENE IS COMMITTED TO CORPORATE SUSTAINABILITY . She replaces Michael Neidorff, who took a medical leave of absence in February 2022. . 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. And less than a month ago, Centene said Neidorff was taking a medical leave of absence to address what he called a treatable medical condition, putting several executives including London to work to fill the void left by Neidorffs absence. Learn about Centene MISSING VALUE office. ", This is a BETA experience. 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. Magna Cum Laude in History & Literature from Harvard College, where she played Division I tennis. And adjusted. You may opt-out by. London spent a year working at Creative Artists Agency in Los Angeles. Centene Corporation announced that Sarah London, vice chairman of Centene, has been appointed chief executive officer, effective immediately, succeeding Michael Neidorff. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Sarah M. London. 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. Centene Corporation, a Fortune 25 company, is a leading healthcare enterprise that is committed to helping people live healthier lives. Search jobs. Total Cash Compensationinformation is comprised of yearly Base Pay and Bonuses. 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. London played Division I tennis at Harvard. March 22, 2022 Centene Corporation (NYSE: CNC) announced today that Sarah London, Vice Chairman of Centene, has been appointed Chief Executive Officer, effective immediately, succeeding Michael Neidorff. 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. ", Drew Asher, Centene's Chief Financial Officer, said, "Sarah brings a modern vision to the helm of one of this country's most important healthcare companies. 1. Jobs People Learning Dismiss Dismiss. 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 . Neidorff . CENTENE CORP income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. [40] 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. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. 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. We have a unique opportunity to empower our members, providers, and their communities in this transformation. from 8 AM - 9 PM ET. "Sarah has infused an innovative mindset across the enterprise in her relentless effort to improve Centene's capabilities to provide the highest quality of care for our members.". The chart on this page features a breakdown of the total annual pay for , at CENTENE CORP as reported in their proxy statements. 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 has promoted Sarah London, the health insurance companys current board vice chair, to the job as Chief Executive Officer, succeeding the retiring Michael Neidorff, the company said Tuesday afternoon. President. Centene Corporation and Brent Layton as President and Chief Operating Officer of Sarah London was named Centene CEO, taking over from Michael Neidorff, who will remain the company's chairman. Ms. London received an M.B.A. with High Honors from the University of Chicago Booth School of Business and a B.A. As the Uvalde community recovers from a tragic shooting, Superior HealthPlan is developing a new community center to serve as a resource for the region. Cigna fell less than 0.3% to close at $234.02, giving. Prior to joining Humedica, Ms. London was part of the team that launched Accretive Health's Quality & Total Cost of Care business, providing end-to-end population health strategy and operational consulting to leading medical centers around the country. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, CENTENE TO PRESENT AT BARCLAYS 2023 GLOBAL HEALTHCARE CONFERENCE, Centene Addresses Social Isolation in Schools with National No One Eats Alone Day. 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.". Drew Asher. 1. 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. Chief Operating Officer. $110k $170k $233k $375k London succeeds Michael Neidorff, who went on medical leave late last month, the company said. We have a unique opportunity to empower our members, providers, and their communities in this transformation. The proxy statement includes footnotes and explanations of this information plus other information that is pertinent in assessing the overall value and appropriateness of the compensation information. Sarah's mailing address filed with the SEC is 7700, Forsyth Boulevard, Clayton, Saint Louis County, Missouri, 63105, United States. .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. Over the last 19 years, insiders at Centene have traded over $220,031,916 worth of Centene stock and bought 89,005 units worth $5,026,837 This is the Centene company profile. Since then, the company has become a major force in the commercial health insurance market by acquiring Health Net, a California health insurer; WellCare Health Plans, a big Medicare plans issuer; and Magellan Health, a behavioral health, specialty care and pharmacy benefits manager. Pros. Sarah London is the Chief Executive Officer of Centene Corporation, a diversified healthcare enterprise providing a portfolio of government-sponsored healthcare programs focusing on. VP of Advanced Technology & Vice Chairman of Centene since . She spent two years working in film production management, first at Creative Artists Agency in Los Angeles, and then at Kennedy/Marshall Co., the company that produced E.T.. All forward-looking statements included in this press release are based on information available to us on the date hereof. You may also find the annual proxy statement by going directly to the company's website. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. March 22 (Reuters) - U.S health insurer Centene Corp CNC.N on Tuesday named Vice Chairman Sarah London as its new chief executive officer, effective immediately. The health of individuals drives our focus on the environment, removing social barriers to health, and prioritizing responsible corporate governance. Centene Corp.'s decision to cancel its planned East Coast hub in University City will cost Charlotte at least 3,000 expected jobs. -, Health Net Providing Special Assistance to Members Affected by Winter Storms, Centene to present at barclays 2023 global healthcare conference, Mizuho Securities Adjusts Centene Price Target to $80 From $92, Maintains Neutral Rating. Cision Distribution 888-776-0942 Michael built one of the great success stories in American business, and his commitment to providing affordable, high-quality healthcare to our fellow citizens will remain a bedrock of this Company going forward," said Ms. London. Sarah London CEO, Centene Tweet More As Centene's first woman CEO, London has been instrumental in helping the insurer boost earnings and grow its core lines of business. "The healthcare landscape is rapidly changing, and Centene's mission to transform the health of our communities one member at a time has never been more relevant, London added. Our local approach allows us to help members access high-quality, culturally sensitive healthcare services. 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. "I also want to thank Michael Neidorff, Centene's visionary leader for more than 25 years. Michael Neidorff made it on to this list in 2017 in 17th position. The company will report its 2022 first quarter earnings on April. Ms London is 40, she's been the Pres of Health Care Enterprises & Exec. Ms. London has spent her career at the intersection of health data, technology, and the transformation of value-based care for vulnerable Americans with the greatest needs. "The healthcare landscape is rapidly changing, and Centene's mission to transform the health of our communities one member at a time has never been more relevant. From September 2011 to June 2016, he served as the Company's Senior Vice President, Business Development. 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. The oldest executive at Centene Corp. is RobertDitmore, 86, who is the Presiding Independent Director. This was for his contribution to the growth of Centene, which has expanded rapidly under his leadership. Executive Compensation Data Year: Trend Analysis As at CENTENE CORP, made $0 in total compensation. 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. In the biggest economic-development deal in state history, the CEO of health-insurance giant Centene said Wednesday that it will build an East Coast regional headquarters and technology hub on an 80-acre site in the University City area a massive project that he said could . YEAR. 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. Women represent 76% of our employees and 65% of employees in supervisory positions. On average, Centene executives and independent directors trade stock every 17 days with the average trade being worth of $1,189,041. 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. Neidorff was the Clayton, Missouri-based health insurance giants chairman as well as its CEO. . is attached hereto as Exhibit 99.1 and incorporated herein by reference. 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. Mar. 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. We salute the Veterans and members of military families who have joined our team. . Forward-Looking StatementsAll statements, other than statements of current or historical fact, contained in this press release are forward-looking statements. In 2010, she helped start a health care cost and quality data business for Accretive Health, a medical billing and debt collection company. While at Optum Ventures, she oversaw investments in companies such as IDx, a startup that uses artificial intelligence to detect diabetic retinopathy, and Apervita, a health care quality data company. Mr. Neidorff remains on a previously announced medical leave of absence from his position on the Board of the Company. 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. and strategy roles with the health insurer, the company said March 22, 2022. Centene generated revenue of $126 billion in 2021, a 13% increase over the year prior as more people were enrolled in Medicaid plans following the pandemic. Prior to her appointment as CEO, Ms. London served as Vice Chairman of the Centene Board of Directors. Will Others Follow? Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. Together, we can deliver innovative, integrated, and equitable care that meets our members where they live and exceeds their expectations. Article content. London is also dedicated to prioritizing wellness for employees, including through enhanced caregiver benefits.
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