Centene Corporation (NYSE: CNC) today announced key actions taken during its Annual Meeting of Stockholders and related board of directors meeting.
1) Steve Bartlett and Tommy Thompson, current Class III directors, have been re-elected to the Centene board of directors for three-year terms ending at the Company’s 2010 Annual Meeting of Stockholders:
- Mr. Bartlett has been a director since May 2004 and is President and Chief Executive Officer of The Financial Services Roundtable in Washington, D.C.
- Mr. Thompson has been a director since April 2005 and is a partner in the firm of Akin Gump Strauss Hauer & Feld LLP in Washington, D.C.
2) The following Centene executive officers were elected by the Centene board of directors:
- Michael F. Neidorff, Chairman, President and Chief Executive Officer.
- Christopher H. Bowers, Acting Head, Health Plan Business Unit.
- J. Per Brodin, Senior Vice President, Chief Financial Officer and Treasurer.
- Patti J. Darnley, Senior Vice President, Operations.
- Marie J. Glancy, Senior Vice President, Operational Services and Regulatory Affairs.
- Carol E. Goldman, Senior Vice President, Chief Administration Officer.
- Jesse N. Hunter, Senior Vice President, Corporate Development.
- Edmund E. Kroll, Senior Vice President, Finance and Investor Relations.
- Mary V. Mason, M.D., Senior Vice President and Chief Medical Officer.
- William N. Scheffel, Senior Vice President, Specialty Business Unit.
- Keith H. Williamson, Senior Vice President, General Counsel and Secretary.
3) KPMG LLP has been appointed as the company’s independent registered public accounting firm for the current fiscal year. KPMG previously audited Centene’s financial statements for the fiscal years ended December 31, 2005 and 2006.
4) The amendment to the 2003 Stock Incentive Plan (2003 Plan) was approved to increase the number of common stock available for grant under the 2003 Plan by 800,000 from 5,100,000 to 5,900,000.
5) The 2007 Long-Term Incentive Plan (2007 LTIP) was approved, which provides for cash-based awards to those employees selected by the compensation committee to participate.
6) An amendment to the Company’s shareholder rights agreement, dated August 30, 2002, was approved. The change was effected to reflect past stock splits and other economic changes since the plan was implemented in 2002.
7) A Government and Regulatory Affairs Committee has been formed to assist the Board in identifying, evaluating and monitoring legislative, political and regulatory trends and in addressing public policy issues and concerns that affect or could affect Centene’s business activities, performance, or public image. The Committee will be jointly chaired by Richard A. Gephardt and Tommy Thompson. Centene board members David L. Steward and Steve Bartlett will also sit on the Committee.
About Centene Corporation
Centene Corporation is a leading multi-line healthcare enterprise that provides programs and related services to individuals receiving benefits under Medicaid, including Supplemental Security Income (SSI) and the State Children’s Health Insurance Program (SCHIP). The Company operates health plans in Georgia, Indiana, New Jersey, Ohio, Texas and Wisconsin. In addition, the Company contracts with other healthcare and commercial organizations to provide specialty services including behavioral health, disease management, long-term care, managed vision, nurse triage, pharmacy benefit management and treatment compliance. Information regarding Centene is available via the Internet at www.centene.com.