Published Mar 22, 2022 < 1 minute read. And finally I'll walk through our updated full-year guidance. 48% of all employees identify as people of color, including 36% at the supervisory + level. In her past career Ms. London held the position of Vice President-Client Management & Operations at Humedica, Inc., Senior Principal & Partner at Optum Venture Management LLC and Head-Marketing & Media Relations at Omega Protein Corp. 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Morgan Healthcare Conference, Jan-09-2023 07:30 AM, Centene Affirms 2022 Guidance, Offers Mixed 2023 Outlook, Transcript : Centene Corporation - Analyst/Investor Day, Centene Corporation Announces Management Changes. Between June 2021 and January 2022, Centene agreed to settlements with several states on behalf of their subsidiary, Envolve, a pharmacy benefit manager, including Ohio, Mississippi, Illinois, Arkansas, and New Hampshire to resolve allegations of overpayments to the PBM from the states' Medicaid programs. 396 Ratings. Sarah M. London is the Pres of Health Care Enterprises & Exec. Her focus has been advancing integrated, value-based care models through the development and application of data-driven insights and technology. 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. Will His AI Plans Be Any Different? 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. He is One of the Top 20 Business People. Glassdoor. Ms. London has spent her career at the forefront of innovation in healthcare. JPMorgan Downgrades Centene to Neutral From Overweight, Adjusts Price Target to $90 Fro.. Analyst recommendations: BP, Centene, Experian, Intel, Walgreens.. CENTENE CORP Management's Discussion and Analysis of Financial Condition and Results Centene ( NYSE: CNC) said it had appointed Sarah London to succeed Michael Neidorff as the Chief . Women represent 76% of our employees and 65% of employees in supervisory positions. Sarah London, Centene CEO, joins 'Power Lunch' to discuss disruptions in the Medicaid market, collaboration between Centene and state agencies and data driven decision-making to improve. Jan 3, 2023 09:43pm. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. 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. Her focus has been advancing integrated, value-based care models through the development and application of data-driven insights and technology. 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Office phone: (773) 834-4302 Fax: (773) 702-6898 Office: BPSB 125C london@uchicago.edu. The proxy statement's main purpose is to alert shareholders to the annual meeting and provide them information about the issues that will be voted on during the annual meeting, including decisions such as electing directors, ratifying the selection of auditors, and other shareholder-related decisions, including shareholder-initiated initiatives. Previously, she served as Chief Product Officer for Optum Analytics and Vice President of Client Services & Operations at Humedica. 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 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. . 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. We discuss certain of these matters more fully, as well as certain other factors that may affect our business operations, financial condition and results of operations, in our filings with the Securities and Exchange Commission (SEC), including our annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. Due to these important factors and risks, we cannot give assurances with respect to our future performance, including without limitation our ability to maintain adequate premium levels or our ability to control our future medical and selling, general and administrative costs. The salaries that employees earn in Centene can be influenced by the department or organization function that they work in. Without limiting the foregoing, forward-looking statements often use words such as "believe," "anticipate," "plan," "expect," "estimate," "intend," "seek," "target," "goal," "may," "will," "would," "could," "should," "can," "continue" and other similar words or expressions (and the negative thereof). 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. Insiders trading at Centene 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 . Sarah London is the Chief Executive Officer of Centene Corporation, a diversified healthcare enterprise providing a portfolio of government-sponsored healthcare programs focusing on under-insured and uninsured individuals to more than 26 million Americans. The chart on this page features a breakdown of the total annual pay for , at CENTENE CORP as reported in their proxy statements. 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. Transforming the health of the community, one person at a time. This was for his contribution to the growth of Centene, which has expanded rapidly under his leadership. 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. 1. Centene, which sells an array of government subsidized health insurance including Obamacare, has been working for much of this year on a permanent successor to Neidorff, who in December announced his plan to retire later this year. VP of Advanced Technology & Vice Chairman at Centene. 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 turned it into a national player by competing aggressively for state Medicare contracts. In their new roles, Ms. London and Mr. Layton will each report to . 5.0 . Sarah M London is Chief Executive Officer at Centene Corp. See Sarah M London's compensation, career history, education, & memberships. In a March 31 regulatory filing, Centene said its board of directors had approved a compensation package for new CEO Sarah London with an annual base salary of $1.4 million and a cash. 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. Together, we can deliver innovative, integrated, and equitable care that meets our members where they live and exceeds their expectations. Biography. Under Neidorff, Centene has grown into a national healthcare giant with revenues that eclipsed $126 billion in 2021 as more Americans sign up for Medicaid, the health insurance for low income patients it manages via contracts with states and individual coverage under the ACA known as Obamacare hits record levels. 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. The most active insiders traders include Michael F Neidorff, Frederick H Eppinger, and Edward L Cahill. ", "I am honored and humbled to have been selected as the next CEO of Centene and to work alongside extraordinary colleagues to provide quality healthcare to over 26 million Americans," said Ms. London. 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. Full-year profits declined to $1.35 billion, from $1.81 billion in 2020. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Centene Profile and History . 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. 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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. [40] Centene shuffled its senior management ranks Wednesday, elevating Ken Fasola to become president of the health insurer, reporting to chief executive officer Sarah London. Forward-Looking StatementsAll statements, other than statements of current or historical fact, contained in this press release are forward-looking statements. Presently, Sarah London is President-Health Care Enterprises at Centene Corp. "I am delighted that the Board has appointed Sarah as CEO. 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. 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. The health of individuals drives our focus on the environment, removing social barriers to health, and prioritizing responsible corporate governance. And for those of us who are survivors of US health plans, top payer Centene, after 25 years of one man at the top, now has a new CEO, effective immediately. Biography. Her strategic thinking, fresh perspective and diverse experience make her the natural leader to harness the potential of Centene," said James Dallas, Acting Chairman of Centene. 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. In her management role, Ms. London led the Company's technology and digital strategy in addition to running the Health Care Enterprises and Specialty divisions, Corporate Strategy, Quality Operations, Internal Audit, Compliance and Risk Management. Founded in 1984 and headquartered in St. Louis, Missouri, Centene Corporation is a diversified, multi-national healthcare enterprise that provides a portfolio of services to government sponsored and commercial healthcare programs, focusing on under-insured and uninsured individuals. Author of the article: Reuters . from 8 AM - 9 PM ET. Kevin Carmichael: Canada's 'blowout' jobs report raises questions about the path of interest rates. Based on our analysis, the employees in engineering earn salaries at Centene that are well above average, with yearly earnings averaging $97,613. Centene, Superior HealthPlan, and Community Health Development, Inc. leadership hosted a groundbreaking ceremony at the site. ", 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. This list of important factors is not intended to be exhaustive. Sarah London, previously appointed President, Health Care Enterprises and Executive Vice President of Advanced Technology, will continue in these roles. London has been a Centene executive since 2020. Centene Corporation announced that Sarah London, vice chairman of Centene, has been appointed chief executive officer, effective immediately, succeeding Michael Neidorff. YEAR. James Dallas, Centenes acting chairman, said the board sees London as a visionary leader. HealthCare Enterprises is a portfolio of high growth companies independent of Centene health plans, designing differentiated platform capabilities and delivering industry-leading products and . Prior to being appointed Chief Executive Officer in 2022, she served as Centene's Vice Chairman, responsible for strategy, technology, pharmacy. "Centene expects to lose an estimated 2.2 million Medicaid members during the redetermination process over the next 18 months, which would significantly dial Ms. London began her healthcare career at Health Leads, a nationally-recognized social enterprise that partners with healthcare organizations to address social determinants of health by connecting patients to the community-based resources needed to support high-quality, cost-effective health outcomes. Net income dropped 26% to $1.3 billion. Of this total $0 was received as a salary, $0 was received as a bonus, $0 was received in stock options, $0 was awarded as stock and $0 came from other types of compensation. 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. "I am honored and humbled to have been selected as the next CEO of Centene and to work alongside extraordinary colleagues to provide quality healthcare to over 26 million Americans," London said in a statement. Sarah London is the Chief Executive Officer of Centene Corporation, a diversified healthcare enterprise providing a portfolio of government-sponsored healthcare programs focusing on. London is also dedicated to prioritizing wellness for employees, including through enhanced caregiver benefits. 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 . Chief Operating Officer. The oldest executive at Centene Corp. is RobertDitmore, 86, who is the Presiding Independent Director. Michael Neidorff made it on to this list in 2017 in 17th position.