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Posted 18 May, 2023

ModivCare Inc appointed new CEO

CEO Change detected for ticker Nasdaq:MODV in a 8-K filed on 18 May, 2023.


  On July 27, 2022, Daniel E. Greenleaf ceased serving as President and Chief Executive Officer or as a member of the Board of Directors (the "Board") of Modivcare Inc. (the "Company").  

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Overview of ModivCare Inc
Health Care/Life Sciences • Healthcare Provision
ModivCare, Inc. is a technology-enabled healthcare services company, which engages in the provision of a suite of integrated supportive care solutions for public and private payors and their members. It operates through the following segments: Non-Emergency Medical Transportation (NEMT), Personal Care, Remote Patient Monitoring (RPM), and Corporate and Other. The NEMT segment is involved in the non-emergency medical transportation programs for state governments and managed care organizations, or MCOs, in the U.S. The Personal Care segment offers home personal care services to State and Managed Medicaid, Medicare, and Private Pay patient populations in need of care monitoring and assistance performing activities of daily living. The RPM segment focuses on remote patient monitoring solutions, including personal emergency response systems, vitals monitoring, and data-driven patient engagement solutions. The Corporate and Other segment includes the costs associated with the company's corporate operations. The company was founded by Fletcher Jay McCusker in December 1996 and is headquartered in Denver, CO.
Market Cap
$449M
View Company Details
Relevant filing section
Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.



 

 
On July 27, 2022, Daniel E. Greenleaf ceased serving as President and Chief Executive Officer or as a member of the Board of Directors (the "Board") of Modivcare Inc. (the "Company"). In connection with the resolution of a dispute about the nature of Mr. Greenleaf's departure and the amount of compensation owed to him following his departure from the Company effective August 1, 2022, the Board has approved the Company's entry into a settlement agreement with Mr. Greenleaf (the "Settlement Agreement"), pursuant to which, in exchange for a mutual release of claims, the Company has agreed to pay Mr. Greenleaf an aggregate cash amount of $9,550,000 and release Mr. Greenleaf from any non-competition obligations owed to the Company. The description of the Settlement Agreement set forth above is qualified in its entirety by the Settlement Agreement, a copy of which is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.

 

A copy of the Company's press release is attached as Exhibit 99.2 to this Current Report on Form 8-K and incorporated herein by reference.