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Centene CEO to Retire After 25 Years; Politan Adds to Board

  • Michael Neidorff to step down from managed care giant he built
  • Board refresh follows pressure from activist Politan Capital
Michael Neidorff

Michael Neidorff

Photographer: David Paul Morris/Bloomberg
Updated on

Centene Corp. said Chief Executive Officer Michael Neidorff will retire next year and the managed-care company will refresh its board in an agreement with activist investor Politan Capital Management LP.

Neidorff, 78, plans to retire after 25 years as chief executive officer. After he steps down, he will serve as executive chairman until the end of 2022. The board has been crafting a succession plan and will evaluate internal and external candidates for the CEO post, St. Louis-based Centene said in a statement.