[7][9], In 2018, Neidorff was one of the executives named in a lawsuit claiming that Centene failed to disclose Health Net's potential tax exposure prior to their acquisition. March 25, 2021. He went on medical leave as Executive Chairman in February and planned to retire at the end of this year. Copyright 2023 Becker's Healthcare. It was reported that Neidorff paid $6.3 million for the four-bedroomed home. The 79 old left his family with over $500 million in his accounts. [+] oversee the health insurer as part of a deal with Politan Capital Management, the company . Michael is a life trustee, and Nomi is a vice chair of the board. Over the years, the Neidorffs have served as advocates and benefactors for dozens of these cultural and educational institutions, including Washington University. Another significant moment during his leadership was when his company Centene acquired Health Net in March 2016 for $6 billion. Hes so upset by her passing . (314) 725-4477. His daughter, Monica Neidorff, died in 2021. He also chairs the boards of the National Urban League and Trinity University in San Antonio, his alma mater. The university will name its business school after him, to be . Michael F. Neidorff, who as chief executive officer of Centene Corp. transformed a tiny medical insurance firm serving three counties in 1996 into a nationwide giant in government-backed health. He built a remarkable American business success story and his commitment to providing affordable, high-quality health care to the most vulnerable people transformed lives across the globe. His retirement will be effective sometime in 2022 and Mr. Neidorff will hold his executive chair position on Centene's board through 2022. [1] [2] He was a 1961 graduate of Altoona High School. Average of 11 Customer Reviews. That amount was roughly 1.5 times more than what Neidorff made in 2019. John Aniston cause of death: What happened to John Aniston? CEO - Centene Corporation - United States . In 2022, Mr. Neidorff will end his tenure leading Centene, closing another chapter in his nearly four decades in the health insurance industry. Michael became CEO of Centene in 1996 and . Centene said a private family service will be held and a memorial service for family and friends will be held at a later date. No charges will be filed. Michael F. Neidorff in 2019. Michael passed away surrounded by his wife, family, and friends on Thursday, April 7, 2022, after a long illness. He was also active in philanthropy. She went on to earn bachelors and masters degrees from the Manhattan School of Music and currently serves on the schools executive committee. There are no details on the parents of Michael at the moment. He graduated from Trinity University and St. Francis College with a Master of Arts degree. When it comes to their work in the community, the Neidorffs are a formidable team. For 26 years, Neidorff led the Clayton-based company, growing it from a small health-care provider to a Fortune 25 behemoth and the region's largest company. Business at Trinity Expand the Memories and Condolences form. When you look at the faculty and the work they are doing, you realize that Washington University has tremendous impact in St. Louis and around the globe, Nomi says. Contact Information. Centene said Thursday that Michael Neidorff, the company's longtime CEO, has passed away. Saint Louis, MO 63105-1849. A private family service will be held. He persevered even after many large insurers lost money and stopped offering coverage. Their commitment and outreach make the city and the organizations they engage with better for all. They now both serve on the board of trustees for the St. Louis Symphony with Noemi as vice chair and Michael as a life trustee. Neidorff owns a luxurious home on Palm Beach. We reserve the right to remove any inappropriate comments. I continued being friends with her and would take all of her floral orders. As a subscriber, you have 10 gift articles to give each month. Jay Weston cause of death: How did Jay Weston die? Neidorff led the St. Louis-based health care. Comments and respectful dialogue are encouraged, but content will be moderated. Centene is ranked #24 in the Fortune 500, #57 in the Fortune 500 Global list, and #7 on the 2019 Fortune Change the World list. This is a leading multi-line healthcare enterprise that was founded in 1984 as a single health plan and now encompasses a range of medical insurance and health care programs. Private graveside service was held at Beth Hamedrosh Hagodol Cemetery, Thurs. Im talking both together, not separate. Mr. Neidorff rebranded the payer, which was formerly known as Family Hospital Physician Associates, as Centene Corp. We zullen ook de volgende subrubrieken bekijken: Centene Careersm, Centene Corporation Jobs, Centene Cutting Jobs, Centene Jobs Tampa. Michael Frederic Neidorff was an American business executive and was CEO of Centene Corp from 1996 to 2022. Mr. Neidorff took the company public in 2001. San Antonio, Texas, United States. This property was formerly owned by Carol Lee Leezy Sculley, who is the ex-wife of former Apple Chairman, John Sculley. He is One of the Top 20 Business People, 3. Michael F. Neidorff, 79, Dies; His Company Was an Obamacare Stalwart, https://www.nytimes.com/2022/04/15/business/michael-f-neidorff-dead.html. The company says Neidorff passed away Thursday surrounded by his family and friends. However, they moved for Niedorffs work in 1985 after he accepted the position of president and chief executive officer at Physicians Health Plan of Greater St. Louis. And Centene under Neidorff expanded into the business of Medicare Advantage, the privatized health benefits myriad health insurers offer seniors via contracts with the federal government. After a lengthy illness, Michael F. Neidorff passed away on Thursday, April 7, 2022 surrounded by his family and friends. He led the company for 26 years and oversaw the company's growth to a Fortune 24 enterprise with revenues of over $125 billion . Michael became CEO of Centene in 1996 and oversaw the company's growth from a $40 million single-health plan to a $125 billion conglomerate with 25 million clients. According to the company, Neidorff had taken on a new job as executive chairman until the end of 2022, and he planned to retire later this year. At a later date to be announced, there will be a memorial service for family and friends to celebrate his extraordinary life and legacy. 2022 Updated!! Mr. Neidorff owns over 50,000 units of Centene stock worth over $552,351,296 and over the last 19 years he sold CNC stock worth over $83,099,100. [19], He died of complications of an infection in St. Louis on April 7, 2022, at the age of 79.[20][21]. According to local property records, Niedorff and his wife own a condominium in the area. We are fortunate to have them as partners in our efforts to improve the quality of life forpeople in our region and beyond.. He Also has a South Palm Beach Property He has made important contributions to the development of St. Louis through his work with the boards of the St. Louis Regional Chamber, United Way of Greater St. Louis, Saint Louis Science Center and many other organizations. In 2018, Neidorff was mentioned in a complaint alleging that Centene neglected to disclose Health Nets possible tax exposure before the acquisition. Michael Neidorff made it on to this list in 2017 in 17th position. Opinions expressed by Forbes Contributors are their own. The $25 million donation of Michael Neidorff, a Trinity University board member, is the largest in the school's history. Neidorff grew raised in Altoona, Pennsylvania, and was born in 1943. When a new market for insurance was created under the Affordable Care Act the federal law, known as Obamacare, that helps provide private insurance to people who do not qualify for Medicaid but who are not covered by their employers Mr. Neidorff positioned Centene as a major provider of low-cost plans. Former Chairman and CEO of Centene, Michael F. Neidorff has died, the company announced April 7, [+] 2022. Without asking any questions, Michael said, whatever you need us to do to minimize disruption, we will do it. And he did. Monica loved children; loved laughter and life. In 2020, Neidorff earned $4.7 million in bonuses that contributed to a total yearly earnings of $24.96 million while laying off 3000 workers. It may take up to 1 hour for your comment to appear on the website. He doubles as an alumni of the Trinity University and St. Francis College. This is a BETA experience. We also cannot address individual medical concerns or provide medical advice in this forum. Neidorff started at Centene in 1996 when it was a single health plan. Michael Neidorff is a businessman who is best-known as the Chief Executive Officer of the Centene Corporation. Aged 54, Wife, Family. She was already friends with some members of the St. Louis Symphony before they moved to the city. NEIDORFF--Michael F. (1943--2022). Neomi's husband, Michael Neidorff, had taken a medical leave of absence and had been promoted to serve as an executive chairman until 2022. 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He was dedicated to supporting arts and civic organizations. To offer your sympathy during this difficult time, you can now have memorial trees planted in a National Forest in memory of your loved one. A non-public own family carrier might be held. 1. Michael Neidorff, Centene's CEO and chairman, doesn't just have his fingerprints all over Centene's history his influence expands well across the payer landscape. This site is provided as a service of SCI Shared Resources, LLC. Smart, quick and witty, she had a gift for writing. I will be praying for you and family. Researching, preparing, submitting, and managing event proposals for fundraising and donor . He built a remarkable American business success story and his commitment to providing affordable, high-quality health care to the most vulnerable people transformed lives across the globe.. His continual support for hundreds of not-for-profit organizations was widely celebrated. Sculley used her homestead exemption on the house, according to property records. 2023 SCI SHARED RESOURCES, LLC. He was 79. LOUIS Michael Neidorff, the longtime CEO of Centene, has died after battling a lengthy illness, the company announced Thursday. Early life and education [ edit] Neidorff was born in 1942 in Altoona, Pennsylvania. bergermemorialchapel.com for more information. Moreover, he has been in both of these positions ever since the corporation was spun off of American Express in September of 2005,, Read More 10 Things You Didnt Know about Ameriprise Financial CEO James CracchioloContinue, David Klein is the newly appointed CEO of Canopy Growth, one of the largest cannabis producers in the country of Canada. Thanks to his strong commitment, Fortune ranked Centene as the #2 company nationally for diversity and inclusion. Neidorff was listed on Fortune's Businessperson of the year list in 2017. We have focused on improving the health of communities by providing the highest-quality care at the most reasonable cost.. Michael Neidorff married Nomi Neidorff, with whom he had two children. Neidorff started at Centene in 1996 when it was a single health plan. Apr 13, 2022 Michael F. Neidorff passed away after a lengthy illness on Thursday, April 7, 2022, surrounded by his family and friends. Michael was very clever from a strategic standpoint, said Dr. J. Mario Molina, the former chief executive of Molina Healthcare, one of Centenes main rivals. You can help Wikipedia by expanding it. Hes an interesting executive who has recently made news for his unique leadership style as well as for a few controversies that have surrounded him, Read More 10 Things You Didnt Know About Newell Brands CEO Michael PolkContinue, Does anyone remember the days when you could get a hot dog and a beer for under $5.00 at a football game? Centene grew into the Medicare Advantage industry under Neidorff, the privatized health benefits that a variety of health insurers give seniors through contracts with the federal government. Privacy Policy. Michael F. Neidorff, who built the Centene Corporation from a small Milwaukee health plan into the nation's largest insurer for the government's Medicaid program and a stalwart of the Obamacare.