8-KLeadership ChangesRegulation FDExhibits & Filings

CENTENE CORP 8-K Report, Executive Changes (Aug 12, 2015)

Filed August 12, 2015For Securities:CNC

Summary

Centene Corporation (CNC) announced a significant leadership transition in their finance department via an 8-K filing on August 12, 2015. Executive Vice President and Chief Financial Officer, William N. Scheffel, has informed the company of his intention to retire in early 2016, with his departure timed for February following the filing of the Form 10-K or the completion of the Health Net transaction, whichever occurs later. To ensure a smooth handover, the Board of Directors has appointed Jeffrey A. Schwaneke, currently Senior Vice President, Corporate Controller and Chief Accounting Officer, to succeed Mr. Scheffel as Chief Financial Officer. Mr. Schwaneke's qualifications and background are well-documented in the company's 2014 Form 10-K. This change in CFO is a key event for investors to monitor, particularly in light of the pending Health Net acquisition, as it signifies a change in financial leadership during a period of significant corporate activity.

Key Highlights

  • 1William N. Scheffel, EVP & CFO, announced his intention to retire in early 2016.
  • 2Mr. Scheffel's retirement is planned for February 2016, contingent on the Form 10-K filing or Health Net transaction completion.
  • 3Jeffrey A. Schwaneke appointed as the new Chief Financial Officer, effective upon Mr. Scheffel's departure.
  • 4Mr. Schwaneke's background is detailed in the Company's 2014 Form 10-K.
  • 5No disclosed family relationships or reportable transactions for Mr. Schwaneke with current directors or officers.
  • 6The announcement was made via an 8-K filing on August 12, 2015.
  • 7The CFO transition occurs during the period leading up to the completion of the Health Net transaction.

Frequently Asked Questions

Mr. Scheffel intends to retire in early 2016, specifically in February, after the filing of the Form 10-K or upon the completion of the Health Net transaction, whichever is later.

Jeffrey A. Schwaneke, currently Senior Vice President, Corporate Controller and Chief Accounting Officer, has been designated by the Board to become the new Chief Financial Officer when Mr. Scheffel steps down.

Yes, Mr. Schwaneke's biographical information is available in Centene Corporation's Annual Report on Form 10-K for the year ended December 31, 2014, filed on February 23, 2015.

The filing states that Mr. Schwaneke does not have any family relationships with the Company's directors or executive officers and is not a party to any transactions requiring disclosure under Item 404(a) of Regulation S-K, indicating no apparent conflicts of interest.