Centene taps Chris Neczypor to succeed retiring CFO Drew Asher

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.

The move echoes a broader reshuffle of finance chiefs across the U.S. healthcare sector, with Pfizer, Amgen, GE Healthcare and Baxter among companies that have announced major executive changes this year.

Centene said Asher, who was its CFO ‌since ​2021, would step down in December and ⁠retire at the end ⁠of 2027, while Neczypor would join in September to ensure smooth transition.

Before this, Neczypor worked as executive vice president and CFO for life insurer Lincoln Financial.

Centene is preparing for an ​expected decline in enrollment 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.

“We are incrementally cautious on the upcoming CFO change but comforted by the longer transition period,” said Baird analyst Michael Ha.

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 about $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.

Americans this year are dropping off the plans as many of them 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)