By Christy Santhosh
Aug 17 (Reuters) – Centene said on Monday Chris Neczypor would succeed Drew Asher as chief financial officer in January, while the health insurer seeks to bolster profitability following pressure in its Medicaid and Obamacare businesses.
Asher, who was CFO since 2021, will step down in December and retire at the end of 2027. Neczypor will join in September to ensure smooth transition, the company said. Its shares fell 4%.
Barclays analyst Andrew Mok said Asher’s leadership would be “difficult to replace”, but the one-year transition period should help to reduce investor concerns.
Centene is preparing for an expected enrollment decline in Medicaid plans for lower-income individuals, as it manages the financial fallout from new work requirements and tighter state eligibility rules, which could leave it with a smaller, higher-cost member base.
The work requirements are set to take effect by January 1, potentially extending the pressure into Neczypor’s first year as finance chief.
Prior to Centene, Neczypor worked as executive vice president and CFO at life insurer Lincoln Financial.
His appointment echoes a broader reshuffle of finance chiefs across the U.S. healthcare sector, with Pfizer, Amgen, GE Healthcare and Baxter announcing major executive changes this year.
CENTENE UNDER ASHER
Asher joined Centene in January 2020 following its acquisition of WellCare, where he was CFO, and helped steer the insurer through Medicaid eligibility redeterminations and disruptions in Obamacare Marketplace plans.
During his tenure, the company expanded from about $126 billion in revenue in 2021 to around $195 billion in 2025.
Asher’s biggest test came in 2025, when Centene withdrew 2025 earnings forecast after identifying a roughly $1.8 billion shortfall in expected risk-adjustment revenue from Obamacare plans.
Several Americans this year are dropping off the plans as they are struggling to make payments due to the end of extra subsidies created during the pandemic.
(Reporting by Christy Santhosh in Bengaluru; Editing by Shilpi Majumdar)
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