The three top executives at WellCare Health Plans resigned effective immediately, the company announced.
Todd Farha, chairman of the board, chief executive officer and president; Paul Behrens, chief financial officer; and Thaddeus Bereday, general counsel, all resigned from their positions but will stay on with the company as nonexecutive employees until March 31, the company said.
Charles Berg, 50, was named executive chairman and Heath Schiesser, 40, was named president and CEO, effective immediately, the company said. Since January 2007, Berg has been a senior adviser to Welsh, Carson, Anderson & Stowe, a private-equity firm. Schiesser joined WellCare in 2002 and since 2006 has served as a senior adviser focusing on Medicare plans. Last October, federal and state agencies conducted a raid on the companys headquarters in Tampa, Fla. WellCare said in a statement it continues to cooperate with the U.S. Justice Department, the Florida attorney generals office, and the other agencies involved in the ongoing investigation. -- by Rebecca Vesely
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