MAGELLAN HEALTH,INC. (NASDAQ:MGLN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

ME Staff 8-k

6 years ago

MAGELLAN HEALTH,INC. (NASDAQ:MGLN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02(b). Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers

Magellan Health, Inc. (the “Company”) today announced that the employment of Sam K. Srivastava, Chief Executive Officer of Magellan Healthcare, Inc. (“Magellan Healthcare”), the Company’s managed healthcare division, will end on December 28, 2018.Mr. Srivastava’s employment will be terminated without cause as defined in his employment agreement dated September 18, 2013 (the “Employment Agreement”). to the terms of the Employment Agreement, Mr. Srivastava will be entitled to 12 months’ base salary and continuation of medical and other benefits under COBRA.Barry M. Smith, Chairman and Chief Executive Officer of the Company, will assume the duties of Chief Executive Officer of Magellan Healthcare in addition to his current duties.

About MAGELLAN HEALTH,INC. (NASDAQ:MGLN)
Magellan Health, Inc. is engaged in the healthcare management business. The Company’s segments include Healthcare, Pharmacy Management and Corporate. It is focused on managing special populations, complete pharmacy benefits and other specialty areas of healthcare. Its Healthcare includes its management of behavioral healthcare services and employee assistance program (EAP) services, management of other specialty areas, including diagnostic imaging and musculoskeletal management, and the integrated management of physical, behavioral and pharmaceutical healthcare for special populations, delivered through Magellan Complete Care (MCC). Its Pharmacy Management segment consists of products and solutions that provide clinical and financial management of pharmaceuticals paid under medical and pharmacy benefit programs. Its Corporate segment consists primarily of operational support functions. It provides services to health plans and other managed care organizations (MCOs).