Jeffrey McWaters, chief executive officer of insurer Amerigroup Corp.,
has announced his retirement effective Aug. 31, citing personal reasons
for his departure while reaffirming the companys profit target.
McWaters, 50, will continue to serve as chairman of the Virginia Beach,
Va.-based companys board of directors, he said in a call with investors.
He will be succeeded by James Carlson, 55, president and chief operating
officer for the past four years.
Theres no intrigue here, McWaters said. Its really a personal
decision on my part backed up by a capable organization.
McWaters founded Amerigroup in 1994 and has served as its sole CEO.
Amerigroup is expecting 2007 earnings per share of $1.81 to $1.96. --