(Reuters) - Centene (NYSE:CNC) Corp said on Thursday its board had approved a request from its chairman and chief executive officer Michael Neidorff for a period of medical leave, effective immediately.
The company named board member James Dallas as acting chairman, and said it expects to appoint a new CEO no later than the second quarter of this year.
In December, the company had reached a deal with activist investment firm Politan Capital Management under which Neidorff was expected to retire this year after serving for a quarter of a century.
Centene in July laid the groundwork for a succession plan when it established its office of the president and Neidorff, the CEO since 1996, said in public that he would not expect to be renewing his contract as the chief.