Centene Corp. announced a new lead to its financial division on Friday, with the St. Louis-based insurer appointing Drew Asher as chief financial officer.
Asher previously served as executive vice president of Centene's specialty division. Asher succeeds Jeffrey Schwaneke, who will now rotate to the role of executive vice president of healthcare enterprises. The leadership change is part of the company's executive development program, Centene said, and is effective immediately. Compensation for the new role was not disclosed. Asher will report to CEO Michael Neidorff.
"Consistent with our rotation practice and in an effort to enhance his operational experience, Drew has been responsible for all specialty product lines for the past 18 months," Neidorff said in a statement. "Drew brings critical skills to his new role, given his leadership experience, financial expertise as well as a strong understanding of the managed care space."
Asher joined Centene in January 2020 as part of the company's $17 billion acquisition of WellCare, a Tampa, Fla.-based insurer where he served as the chief financial officer for six years. In his new role as CFO of Centene, Asher will oversee accounting, treasury, tax, actuarial services, health economics, enterprise performance excellence, financial planning and procurement.
Asher holds a bachelor's degree in accounting from the University of Florida and a master's degree in taxation from the University of Central Florida.
"I look forward to leading our experienced finance team in my new role as we look to deliver on our growth objectives, execute on our disciplined capital allocation strategy and generate long-term value for our shareholders," Asher said in a statement.
In his new role as executive vice president of healthcare enterprises, former CFO Schwaneke will report to Sarah London, who serves as president of the division and executive vice president of the business line's advanced technology services. Centene's healthcare enterprises is its non-insurance division that develops tech products and services to sell to third-party customers.