Friday, March 30, 2012

CEO Takes Leave Amid Charges

The Wall St Journal reports that Highmark Inc. designated its chairman as acting chief executive, after disclosing that CEO Kenneth Melani will take an unpaid leave of absence as he faces charges of assault and trespassing. The leadership switch comes as the nonprofit company wages a high-profile battle with the University of Pittsburgh Medical Center.

Chairman and acting CEO J. Robert Baum, a University of Maryland professor, said in a statement Thursday that the company will continue with its current strategic direction, including its push to acquire a financially troubled local hospital operator, West Penn Allegheny Health System. Highmark, a major Pittsburgh-based health insurer, had $14.8 ....
Read all about it at http://online.wsj.com/article/SB10001424052702303404704577311930828094816.html?mod=WSJ_business_whatsNews

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