8-KLeadership ChangesRegulation FDExhibits & Filings

CENTENE CORP 8-K Report, Executive Changes (Dec 14, 2022)

Filed December 14, 2022For Securities:CNC

Summary

Centene Corporation (CNC) announced significant leadership changes effective December 14, 2022. Kenneth Fasola has been appointed as President of the company, and James Murray has been appointed as Executive Vice President, Chief Operating Officer. These appointments bring experienced executives with extensive backgrounds in the healthcare and managed care sectors to key operational roles. These changes coincide with Brent Layton's transition from President and Chief Operating Officer to Senior Advisor to the Chief Executive Officer. Mr. Layton will continue in this non-executive role until his planned retirement on December 31, 2023. The company highlighted the extensive experience of both Mr. Fasola and Mr. Murray, noting their prior leadership roles at companies like Magellan Health, United Healthcare, and Humana, suggesting a focus on operational expertise and strategic execution.

Key Highlights

  • 1Appointment of Kenneth Fasola as President, bringing significant experience from Magellan Health and United Healthcare.
  • 2Appointment of James Murray as Executive Vice President, Chief Operating Officer, with a strong background from Magellan Health and Humana.
  • 3Brent Layton transitions from President and COO to Senior Advisor to the CEO until his retirement on December 31, 2023.
  • 4Both new appointees have prior executive experience at Centene, with Mr. Fasola as EVP of Health Care Enterprises and Mr. Murray as Chief Transformation Officer.
  • 5The changes are effective immediately as of December 14, 2022.
  • 6No undisclosed arrangements or family relationships exist between the newly appointed officers and existing leadership.
  • 7The company issued a press release on December 14, 2022, detailing these leadership changes.

Frequently Asked Questions

Centene has appointed Kenneth Fasola as President and James Murray as Executive Vice President, Chief Operating Officer, effective December 14, 2022. Concurrently, Brent Layton is transitioning from his role as President and COO to Senior Advisor to the CEO until his retirement at the end of 2023.

Kenneth Fasola, 63, brings extensive experience, including his recent role as Executive Vice President of Health Care Enterprises at Centene. He was previously CEO of Magellan Health Inc. before its acquisition by Centene and has held senior leadership positions at United Healthcare and as Chairman, President, and CEO of HealthMarkets, Inc.

James Murray, 69, most recently served as Centene's Chief Transformation Officer, overseeing its Value Creation Office and Behavior Health business. Prior to that, he was President and COO of Magellan Health, Inc. and has held executive roles at Humana and other healthcare organizations.

Brent Layton's move to Senior Advisor to the CEO allows for a structured transition in leadership and ensures his continued involvement in a non-executive capacity until his planned retirement on December 31, 2023. His employment agreement has been amended to reflect this new role.