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Tampa's WellCare Health Plans names new CEO

 
Kenneth A. Burdick
Kenneth A. Burdick
Published Dec. 16, 2014

TAMPA — WellCare Health Plans has named president and chief operating officer Kenneth A. Burdick as its new CEO, effective Jan. 1.

He replaces David J. Gallitano, a WellCare board member who has been acting CEO for more than a year. Gallitano remains WellCare's nonexecutive chairman of the board.

The Tampa managed care provider, one of Tampa Bay's biggest public companies, has been without a permanent leader since November 2013, when then-CEO Alec Cunningham was ousted.

Cunningham said he was let go because of differing agendas. Gallitano, a WellCare board member since 2009, said the board wanted a top manager with a track record to execute "large-scale growth" as WellCare expanded its operation.

Burdick, 56, joined WellCare in January as president, national health plans, in part of a broad management and cultural makeover under Gallitano.

Within five months, Burdick was promoted to president and chief operating officer, becoming a front-runner internal candidate for the top job.

Before joining the company, Burdick was CEO of Blue Cross and Blue Shield of Minnesota. He also had executive roles with Coventry Health Care and UnitedHealth Group.

"Ken demonstrates the kind of leadership that the board believes is necessary to lead WellCare into the future," Gallitano said in a statement. "Over the past year, Ken has been instrumental in developing our strategy, building the infrastructure we need for the future and transforming our company's culture. Further, his extensive health care background will enable him to continue to effectively implement the company's long-term plans."

According to regulatory filings, Burdick will receive a base salary of $1 million and be entitled to a short-term incentive target of 150 percent of his salary, or $1.5 million, and long-term incentive target up to 500 percent of his salary. The long-term stock incentives are performance-based.

WellCare provides managed care services in government-sponsored health care programs, including Medicaid and Medicare, as well as prescription drug plans and the Health Insurance Marketplace. As of Sept. 30, its plans covered about 4 million members nationwide.

Contact Jeff Harrington at jharrington@tampabay.com or (813) 226-3434. Follow @JeffMHarrington.