Below is a summary of our committee structure and membership information. To read more about any of the committees, click on committee names in the chart below.
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Audit Committee
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Management Compensation Committee
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Nominating and Governance Committee
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René Lerer, M.D.
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Chairman and Chief Executive Officer, Magellan Health Services
René Lerer, M.D., is chairman and chief executive officer of Magellan Health Services, one of the country's leading specialty health care management organizations, leveraging clinical excellence, innovation and operational expertise to manage behavioral health, radiology, specialty pharmaceuticals and Medicaid benefits. With revenue of nearly $3 billion in 2011, Magellan is a market leader with broad and deep experience. The company's customers include health plans, employers and government agencies, serving approximately 33.8 million members in its behavioral health business, 16.1 million in its radiology benefits management segment, and 6.2 million members in its medical pharmacy management product. In addition, the specialty pharmaceutical segment serves 41 health plans and several pharmaceutical manufacturers and state Medicaid programs. The Company's Medicaid Administration segment serves 24 states and the District of Columbia.
As chairman and CEO, Dr. Lerer is responsible for Magellan's strategic direction and overall growth. Joining the company in 2002, he served as president and chief operating officer with responsibility for all operations, including care management centers, and many of the company's enterprise-wide functions, including clinical, product development, information technology, and marketing and communications. During his tenure, the company's portfolio of business has diversified and its value has more than doubled. He was appointed CEO in February 2008, and Chairman in February 2009.
Dr. Lerer has more than 30 years of health care experience. Prior to joining Magellan, he was co-founder and president of Internet HealthCare Group, a health care technology venture fund. Earlier in his career he served as chief operating officer of Prudential Healthcare nationally and as president of the Travelers Health Network. He also served as senior vice president of operations, pharmacy and disease management with Value Health, Inc., a New York Stock Exchange-listed specialty managed care organization.
Currently, he serves on the board of directors for the Internet HealthCare Group.
Deeply committed to community issues, particularly related to health care, mental health and education, Dr. Lerer serves as the New England Chapter representative on the American Cancer Society's CEOs Against Cancer National Meeting Advisory and has led several initiatives in conjunction with the Connecticut chapters of organizations such as the Juvenile Diabetes Research Foundation (JDRF) and the National Alliance on Mental Illness (NAMI). He also serves on the board of directors of HAIS, the international migration agency of the American Jewish community.
In 2011, Dr. Lerer was appointed to the Board of Regents for Higher Education by Governor Dannel Malloy of Connecticut.
Dr. Lerer is also a founder of Hero Health Hire, an effort by the health care industry to employ and support America's wounded warriors, which currently consists of nearly 25 companies, associations and other health care entities collectively employing more than 500,000 people.
He holds a bachelor's degree in Psychobiology from Oberlin College and a doctor of medicine degree from the State University of New York at Buffalo. He is board-certified in internal medicine.
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| Term Expiring 2012 |
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Eran Broshy
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Senior Advisor, Providence Equity Partners
Mr. Broshy has over 25 years of management experience within the healthcare industry. Currently Mr. Broshy is senior advisor at Providence Equity Partners LLC, the world's leading private equity firm focused on media and information with over $22 billion of equity capital under management, and leads the firm's global healthcare investment efforts.
Prior to joining Providence in 2009, he served as chief executive officer and then chairman of inVentiv Health (Nasdaq: VTIV) for over a decade. Mr. Broshy took inVentiv public in the fall of 1999, and under his leadership transformed the company into the leading provider of commercialization and complementary services to the global pharmaceutical and biotechnology industries, growing revenues from $215 million in 2002 to $1.1 billion in 2008. Mr. Broshy stepped down as CEO in 2008 and remained chairman until the company was taken private in 2010.
Mr. Broshy previously was a partner at The Boston Consulting Group (BCG) and had responsibility for the firm's healthcare practice across the Americas. During his fourteen-year tenure at BCG, Mr. Broshy consulted widely with senior executives from a number of the major global pharmaceutical manufacturers, managed care organizations, and academic medical centers, and served as the lead partner on a broad range of strategic, organizational and operational initiatives. Mr. Broshy has also served as president and chief executive officer of Coelacanth Corporation, a privately-held biotechnology company.
Mr. Broshy serves as a director of Magellan Health Services (Nasdaq: MGLN), a specialty healthcare management company, Virtual Radiologic, a privately-held leading tele-radiology company, and as chairman of ikaSystems, a privately-held provider of web-based technologies for healthcare payers. He is also on the Simon Wiesenthal Center's NY Executive Board and the MIT Visiting Committee for the Social Sciences. Mr. Broshy is a graduate of Harvard University (MBA), Stanford University (MSc), and the Massachusetts Institute of Technology (BSc).
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Mary F. Sammons
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Chairman of the Board of Rite Aid Corporation
Ms. Sammons has been chairman of the board of Rite Aid since June 2007 and has been a member of the company's board of directors since December 1999, when she joined the company as president and chief operating officer. She was named chief executive officer in 2003 and served in that role until June 2010. Brought in as part of a new leadership team in 1999, Ms. Sammons accomplished successful operational turnaround of the company, including revamping more than 3,000 retail stores, increasing investments in technology to help the company compete more effectively, and rebuilding the company's supply chain. During her tenure, she created a new corporate culture and made important strides in restoring its brand identity. Prior to joining Rite Aid, Ms. Sammons served as president and chief executive officer of Fred Meyer Stores, Inc., a subsidiary of The Kroger Company. She is a member of the board of the National Association of Chain Drug Stores, a trade association; director of StanCorp Financial Group, Inc.; and president of the Rite Aid Foundation.
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| Term Expiring 2013 |
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Michael S. Diament
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Former Portfolio Manager and Director of Bankruptcies and Restructurings, Q Investments
Michael S. Diament formerly served as portfolio manager and director of bankruptcies and restructurings from January 2001 to February 2006 for Q Investments, an investment management firm. From February 2000 until January 2001, Mr. Diament was a senior analyst for Sandell Asset Management, an investment management firm, and served as vice president of Havens Advisors, an investment management firm, from July 1998 to January 2000.
He currently serves on the board of directors of Mark IV Industries, Inc., a manufacturer of engineered systems and components, Journal Register Company, a private multi-media news company, and within the previous five years he served on the board of directors of J.L. French Automotive Castings, Inc., a privately-held auto parts company, i2 Technologies, Inc., a formerly-public supply chain software and services company, and WilTel Communications Group, Inc., a publicly-traded telecommunications company.
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Michael P. Ressner
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Retired Vice President of Finance, Nortel Networks Corporation
Michael P. Ressner retired from Nortel Networks where between 1981 and 2003 he was a senior executive with functional responsibilities that spanned the areas of finance and general management including vice president, finance. Mr. Ressner was an adjunct professor of finance and accounting at the North Carolina State University College of Management between 2003 and 2005. He now sits on the advisory board of the Enterprise Risk Management Institute at North Carolina State University. Mr. Ressner currently serves on the boards of directors at two public companies other than our company: Exide Technologies, a NASDAQ-listed stored electrical energy solution company, and Tekelec, a NASDAQ-listed provider of network signaling systems, and within the previous five years served on the board of Entrust, Inc., a publicly-traded information security company, Arsenal Digital Solutions, a private data storage services company, Riverstone Networks, a publicly-traded developer and manufacturer of carrier class switches, Proxim Corporation, a publicly-traded supplier of wireless broadband infrastructure, WilTel Communications Group, Inc., a publicly-traded wholesale voice and data communications carrier, and Netgear, a network equipment manufacturer. As a member of the Executive Service Corps, Mr. Ressner participates in assignments that focus on providing financial management and governance consultancy to not-for profit organizations in the Raleigh/Durham/Chapel Hill area.
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Barry M. Smith
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Founder, Chairman and Chief Executive Officer of Bon Travay, S.A.
Barry M. Smith is the founder, Chairman and Chief Executive Officer of Bon Travay, S.A., a charitable organization dedicated to healthcare and educational efforts in Third World countries. Prior to founding Bon Travay, he founded and served as Chairman, President and CEO of VistaCare, Inc., a national provider of hospice services, from 1996 to 2003. Earlier in his career, Mr. Smith served as Chairman and CEO of Value Rx, Inc., then one of the country's largest pharmacy benefit management companies, and, prior to that, served as Vice President of Operations for PCS Health Systems, also a pharmacy benefit management firm. Mr. Smith serves as Chairman and Chief Executive Officer of B&J Associates, Inc. and B&J Investments, LLC. He previously served as a director of the company from 2004 to 2008.
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| Term Expiring 2014 |
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William D. Forrest
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Managing Partner and Equity Owner, Tower Three Partners, LLC
William D. Forrest is a managing partner and equity owner of Tower Three Partners, LLC, a private equity fund that invests in distressed companies requiring operational and/or financial restructuring. He served as the non-executive chairman of Cosi, Inc., a national restaurant chain which is listed on NASDAQ, from December 2006 through November 2008. He served as the executive chairman of Cosi from April 2003 until December 2006. Prior to joining Cosi, Mr. Forrest was a managing director leading the restructuring group and serving on the management committee at the international investment bank, Gleacher Partners from 2001 until 2004. Prior to his position at Gleacher Partners, he was a managing director of Catterton-Forrest LLC, where he was responsible for the acquisition and management of portfolio companies in the troubled business space. Mr. Forrest is a Certified Turnaround Professional. He began his professional career in the consulting division of Laventhol & Horvath. Throughout his career, he has served in executive management, investment banking and investor roles with organizations in a variety of industries including healthcare, manufacturing and food services. Within the previous five years he served on the board of directors of Cosi, Inc. and Restoration Hardware, Inc., a privately-held furniture retailer.
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Robert M. Le Blanc
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Managing Director, Onex Corporation
Robert M. Le Blanc, the board's lead director, currently serves as a managing director for Onex Corporation. Prior to joining Onex in 1999, Mr. Le Blanc worked for Berkshire Hathaway for seven years. From 1988 to 1992, Mr. Le Blanc worked for General Electric. Mr. Le Blanc also serves as a director of ResCare, Inc., a publicly-traded human service company, Center for Diagnostic Imaging, Inc., a national network of outpatient diagnostic imaging centers, Skilled Healthcare, a publicly-traded service provider to the long-term care industry, First Berkshire Hathaway Life, a publicly traded diversified insurance and investment company, Emergency Medical Services Corporation, a publicly-traded provider of emergency medical services in the United States, Cypress Holdings, Inc., an insurance holding company, The Warranty Group, a provider of warranty and service contracts, Carestream Health, Inc., a provider of medical and dental imaging systems, and Connecticut Children's Medical Center.
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William J. McBride
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Retired President and Chief Operating Officer, Value Health, Inc.
William J. McBride is currently retired. Prior to his retirement in 1995, Mr. McBride had been a director of Value Health, Inc., a New York Stock Exchange-listed specialty managed care company which included Value Behavioral Health, one of the largest behavioral health managed care companies at the time. From 1987 to 1995, Mr. McBride served as president and chief operating officer of Value Health, Inc., overseeing all operational activities of the company and its subsidiaries. Prior to his tenure at Value Health, Mr. McBride spent 15 years in a variety of positions with INA Corporation and its successor, CIGNA Corporation, including serving as president and chief executive officer of CIGNA Healthplan, Inc. Mr. McBride currently serves on the board of directors of AmeriGroup Corporation, a managed healthcare company focused on providing services to Medicaid recipients, Evolution Benefits, Inc., a private insurance services company, Internet HealthCare Group, an early-stage healthcare technology venture fund, and Women's Health USA, Inc., a private healthcare services company.
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