8-KLeadership ChangesRegulation FDExhibits & Filings

Elevance Health, Inc. 8-K Report, Executive Changes (Nov 6, 2017)

Filed November 6, 2017For Securities:ELV

Summary

Elevance Health, Inc. (then Anthem, Inc.) announced a significant leadership transition via an 8-K filing on November 6, 2017. The key event was the appointment of Gail Boudreaux as Chief Executive Officer and President, effective November 20, 2017. Ms. Boudreaux, a seasoned executive with prior leadership roles at UnitedHealth Group, also joined the company's Board of Directors. This appointment marks a pivotal moment for the company, bringing in new leadership to steer its future strategy. The filing also detailed the transition of Joseph Swedish, the outgoing CEO, who will assume the role of Executive Chairman and later Senior Advisor. The company also provided financial guidance, reaffirming its full-year 2017 net income guidance of $10.80 - $10.90 per share, or $11.90 - $12.00 per share on an adjusted basis, excluding certain unfavorable items. The details of Ms. Boudreaux's compensation package and Mr. Swedish's transition agreement were disclosed, providing transparency on executive remuneration and post-employment arrangements. Investors are advised to consider the forward-looking statements and associated risks outlined in the filing, which include regulatory changes, market trends, and competitive pressures.

Key Highlights

  • 1Gail Boudreaux appointed Chief Executive Officer and President, effective November 20, 2017.
  • 2Gail Boudreaux also appointed to the Board of Directors.
  • 3Joseph Swedish transitions from CEO to Executive Chairman.
  • 4Reaffirmed full-year 2017 net income guidance of $10.80 - $10.90 per share (or $11.90 - $12.00 adjusted).
  • 5Details of Gail Boudreaux's compensation package disclosed, including base salary, target bonus, and long-term incentive awards.
  • 6Terms of Joseph Swedish's transition agreement outlined, including role as Executive Chairman and later Senior Advisor.

Frequently Asked Questions

Gail Boudreaux was appointed as the new Chief Executive Officer and President of Elevance Health (then Anthem, Inc.), effective November 20, 2017.

The company reaffirmed its full-year 2017 net income guidance to be in the range of $10.80 - $10.90 per share, with an adjusted net income guidance of $11.90 - $12.00 per share.

Gail Boudreaux's compensation includes an annual base salary of $1,400,000, a target incentive bonus opportunity of 175% of her base salary (beginning in 2018), and long-term incentive awards with a target value of $10,250,000 for 2018. She also received a one-time grant of performance stock units with a target value of $2,000,000.

Joseph Swedish will continue to serve as the Executive Chairman until the earlier of the company's 2018 annual meeting of shareholders or May 31, 2018. He will then serve as Senior Advisor to the CEO and Consultant until May 1, 2020.