The Company’s Board of Directors has appointed Kenneth J. Fasola as Chief Executive Officer, effective November 14, 2019. Fasola will succeed the current CEO Barry M. Smith, who will remain to assist with the transition as needed.

“I am pleased that we have been able to attract someone with Ken’s breadth of healthcare experience in commercial and government-sponsored health plans and proven leadership track record,” said Steven J. Shulman, chairman of the board, Magellan Health. “I look forward to working closely with him and Magellan’s executive leadership team to continue the growth of our portfolio of businesses, Magellan Complete Care, Magellan Behavioral and Specialty Health, and Magellan Rx Management.”

“I am deeply honored to be named CEO and join the tremendous team at Magellan Health during such a dynamic time in the healthcare industry,” said Fasola. “Over the coming months, I plan to dedicate time with key stakeholders, the Board of Directors and Magellan’s executive leadership team to refine our strategy and lead this company into the next phase of growth.”

Fasola will join Magellan Health after a successful leadership career spanning three decades in the healthcare industry. Most recently, he served as president and chief executive officer of HealthMarkets, Inc., one of the largest health insurance agencies in the U.S., which was acquired earlier this year by UnitedHealth Group. Prior to joining HealthMarkets, Fasola was responsible for Humana’s individual major medical, specialty and supplemental insurance operations. Prior to that, he was chief executive officer for Secure Horizons, a division of UnitedHealth Group and one of the nation’s largest Medicare Advantage insurer. Additionally, he served as chief executive officer of UnitedHealth Care’s Central region and as National Sales Officer and president of UnitedHeath Care lines of business.

Fasola holds a Bachelor of Science in Health Planning and Administration from Pennsylvania State University.

“It has been a privilege and honor to serve as CEO of Magellan Health for the past six years,” said Barry M. Smith. “I wish Ken and the Magellan team well as they continue to address the most complex areas of health on behalf of customers and members.”