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Centene Corporation announced Chairman and CEO Michael Neidorff’s intent to retire in 2022 as CEO. Upon his retirement as CEO, he will serve as Executive Chairman until the end of 2022.
As previously disclosed in July 2021, the Board of Directors (“the Board”) put a succession planning initiative in place. Following the changes to the Board announced today, the reconstituted Board will be responsible for appointing a new CEO following a thorough selection process, including evaluating internal and external candidates with the support of an external search firm.
“It has been one of the greatest privileges of my life to serve as CEO of Centene. Nothing has been more important to me than providing the highest quality of care to the most vulnerable populations we serve. I am deeply appreciative of our employees who have worked tirelessly and with an unwavering commitment to serving our members and partners. I have been in discussions with the Board about my retirement plans since the summer, and today I have informed the Board of my decision to retire as CEO in 2022,” said Mr. Neidorff. “I am confident our company is well positioned to ensure a smooth transition. With the value creation plan in place, the governance enhancements announced today, and our strong leadership team, I have never been more confident in the future success of this company.”
“I want to thank Michael for his exemplary service over the past 25 years, for all of Centene’s stakeholders,” said Robert Ditmore, Director. “Michael successfully built one of the most important healthcare enterprises in the country. He joined Centene as CEO in 1996 and took Centene from a $40 million corporation in 1996 serving three counties in two states to a $125 billion market leader Fortune 24 nationally and a Fortune 57 global leader, with nearly 76,000 employees serving 26.5 million members in all fifty states in the U.S. and three international countries. While it is difficult to put into words the immeasurable impact he has had on this company and the members whose health has been transformed, and the communities that have been served, on behalf of all the Board at Centene we are immensely grateful and proud of the work Michael has inspired and delivered as our CEO.”
About Michael Neidorff, Chairman and CEO, Centene Corporation
As Chairman and CEO, Mr. Neidorff has successfully grown Centene into the leader in government sponsored healthcare with projected revenues of over $125 billion in 2021. Under his leadership, Centene has grown from a $40 million corporation to a publicly traded, FORTUNE® 25, diversified, healthcare enterprise. Since becoming CEO, Mr. Neidorff has led Centene to establish operations in all 50 states to become the largest Medicaid managed care organization in the U.S., the top insurer on the Health Insurance Marketplace as well as a leader in Medicare. With a history of successfully implementing healthcare programs and services under Medicaid, Medicare, and commercial managed care through both organic growth and large-scale acquisitions, Mr. Neidorff has championed providing high quality healthcare at low cost to millions of members, particularly amongst the most vulnerable, underserved populations. Centene’s unique, local approach to healthcare combined with its commitment to serving high quality care to its members have led to Centene serving approximately 1 in 15 individuals across the nation today. Mr. Neidorff is a transformative leader in the healthcare industry, recognized for his entrepreneurship, impact to millions of members, commitment to diversity and contributions to the community. Under his tenure, Centene has won numerous awards, including being ranked #2 on the 2021 Fortune and Refinitiv ranking for transparency around diversity disclosures and being recognized by numerous publications for its COVID-19 response efforts. In 2017, Mr. Neidorff appeared on Fortune’s annual “Businessperson of the Year” list for his impact on the healthcare industry and has been named one of the “100 Most Influential People in Healthcare” by Modern Healthcare magazine in 2018, 2019, and 2020.
About Centene Corporation
Centene Corporation, a Fortune 25 company, is a leading multi-national healthcare enterprise that is committed to helping people live healthier lives. 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 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. 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. Centene focuses on long-term growth and the development of its people, systems and capabilities so that it can better serve its members, providers, local communities, and government partners.
Centene uses its investor relations website to publish important information about the Company, including information that may be deemed material to investors. Financial and other information about Centene is routinely posted and is accessible on Centene’s investor relations website, http://investors.centene.com/.
