Andrew Asher – heir apparent to Thomas Tran as chief financial officer at WellCare Health Plans Inc. – officially becomes the top bean counter at the Tampa-based managed care provider starting Nov. 14.
Asher, who was hired in August as senior vice president, will get a base salary of $500,000 and be eligible for bonuses and stock awards as CFO, a filing with the U.S. Securities and Exchange Commission said. He also got a signing bonus of $250,000.
WellCare told Tran in February that he would be let go, but he agreed to stay on until his replacement was settled.
Tran’s swan song came this morning on WellCare’s conference call with analysts when he joined Asher and Chairman and CEO David Gallitano in discussing third quarter 2014 earnings.
WellCare (NYSE: WCG) reported net income of $19.3 million, or 44 cents a share, for the three months ended Sept. 30, compared to $64 million, or $1.45 a share, in net income for the year-ago period. During the third quarter, the company had an 18 cents a share reduction in the bargain purchase gain from the acquisition of Windsor Health Plans Inc. earlier this year.
Revenue for 3Q2014 was $3.4 billion, compared to $2.5 billion in revenue a year ago.
Date: November 05, 2014