David L. Steward Elected to Centene Corporation's Board Of Directors
ST. LOUIS, May 9, 2003 (BUSINESS WIRE) -- Centene Corporation (Nasdaq: CNTE) announced today that David L. Steward was elected to the Company's Board of Directors at its Annual Meeting of Shareholders, which was held on May 6, 2003 in St. Louis, Missouri.
Michael F. Neidorff, Centene's President and Chief Executive Officer, said, "We are pleased to welcome this distinguished business leader to our Board of Directors. His firm understanding of the political and social environment in which we operate will be valuable as we execute upon our stated strategy to become a multi-line government services provider. In addition, his background in technology will be important as we expand our information systems platform to accommodate future growth."
Mr. Steward serves as Chairman and Chief Executive Officer of World Wide Technology, Inc., a private company with $1 billion in sales, which he founded in 1990. He also founded Telcobuy.com, an affiliate of World Wide Technology, Inc., and has served as its Chairman since 2000. World Wide Technology, Inc. and Telcobuy.com are the leading electronic procurement and logistics services companies in the information technology and telecommunications industries.
Mr. Steward serves on numerous additional committees and boards, including Civic Progress of St. Louis, the St. Louis Regional Chamber and Growth Association, Missouri Technology Corporation, Webster University, BJC Health System, First Banks Inc., St. Louis Science Center, the United Way of Greater St. Louis Board, The Greater St. Louis Area Council Boy Scouts of America, Harris-Stowe State College African American Business Leadership Council and INROADS. He holds a bachelors degree in business management from Central Missouri State University.
He joins 5 other independent Centene directors: Samuel E. Bradt, Edward L. Cahill and Robert K. Ditmore, Claire W. Johnson and Richard P. Wiederhold.
Centene Corporation provides managed care programs and related services to individuals receiving benefits under Medicaid, including Supplemental Security Income (SSI) and the State Children's Health Insurance Program (SCHIP). The Company operates health plans in Wisconsin, Texas, Indiana and New Jersey. In addition, the Company contracts with other healthcare organizations to provide specialty services including behavioral health, nurse triage and pharmacy compliance. Information regarding Centene is available via the Internet at www.centene.com.
The second paragraph of this press release contains forward-looking statements that relate to future events and future financial performance of Centene. Subsequent events and developments may cause the company's estimates to change. The company disclaims any obligation to update this forward-looking financial information in the future. Readers are cautioned that matters subject to forward-looking statements involve known and unknown risks and uncertainties, including economic, regulatory, competitive and other factors that may cause Centene's or its industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Actual results may differ from projections or estimates due to a variety of important factors, including Centene's ability to accurately predict and effectively manage health benefits and other operating expenses, competition, changes in healthcare practices, changes in federal or state laws or regulations, inflation, provider contract changes, new technologies, reduction in provider payments by governmental payors, major epidemics, disasters and numerous other factors affecting the delivery and cost of healthcare. The expiration, cancellation or suspension of Centene's Medicaid managed care contracts by state governments would also negatively affect Centene.
SOURCE: Centene Corporation
Centene Corporation, St. Louis
Mr. Karey L. Witty, 314/725-4477
Lisa M. Wilson, 212/759-3929
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