TRUMBULL, Conn., Nov. 22 /PRNewswire-FirstCall/ -- Oxford Health Plans,
Inc. (NYSE: OHP) announced today that the senior management transition
announced on September 19, 2002 has been completed. On November 22, 2002,
Chairman and Chief Executive Officer Norman C. Payson, M.D. officially
completed his tenure as an officer and Director of the company. Charles G.
Berg, previously President and CEO-elect, has become Chief Executive Officer.
Kent J. Thiry, previously Chairman of the Board-elect, has become non-
executive Chairman of the Board.
Dr. Payson became CEO and a Director of Oxford Health Plans in May 1998
and assumed the role of Chairman of the Board in May 1999. Prior to his
tenure at Oxford, Dr. Payson co-founded and was President and CEO of
Healthsource from 1985 through its sale to CIGNA Corporation in 1997.
Mr. Berg became the President and Chief Operating Officer of Oxford Health
Plans in March 2001 and was appointed CEO-elect and a member of the Board of
Directors in September 2002. He previously served as Oxford's Executive Vice
President of Medical Delivery and Technology since January 2001 and as
Executive Vice President of Medical Delivery since April 1998. Prior to his
tenure at Oxford, Mr. Berg was founder and CEO of Health Partners, Inc., a
physician network management company.
Mr. Thiry has been a Director of Oxford Health Plans since August 1998 and
was appointed Chairman of the Board-elect in September 2002. Mr. Thiry has
been Chairman and Chief Executive Officer of DaVita, Inc. (NYSE: DVA), a
publicly traded company that operates a chain of dialysis centers, since
October 1999. He previously served as CEO of Vivra, a NYSE company, from 1991
through its sale to Gambro in 1997. Mr. Thiry is also a former partner at
Bain & Company.
In discussing the transition, Dr. Payson said, "Our close working
relationship and shared commitment to ensuring a smooth transition enabled
Chuck and me to successfully complete this process in a timely manner. It has
truly been an honor to be the CEO and Chairman of the Board of Oxford Health
Plans."
Mr. Berg added, "I have had the great pleasure to work with Norm during
the past four and a half years, and our transition went exceptionally well. I
speak for the entire Oxford organization in wishing Norm and his family the
best for the future."
Oxford Health Plans also announced that Fred F. Nazem, who was Chairman
and involved in the recruitment of Dr. Payson to lead the company's turnaround
in 1998, has retired from the Board of Directors today. Mr. Nazem has served
as a Director of the company since June 1990 and was non-executive Chairman of
the Board from February 1998 to May 1999.
Founded in 1984, Oxford Health Plans, Inc. provides health plans to
employers and individuals in New York, New Jersey and Connecticut, through its
direct sales force, independent insurance agents and brokers. Oxford's
services include traditional health maintenance organizations, point-of-
service plans, third party administration of employer-funded benefits plans
and Medicare plans.
SOURCE Oxford Health Plans, Inc.
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Related links:
http://www.oxfordhealth.com
CONTACT:
Investor - Gary Frazier, +1-203-459-7331, or
Deborah Abraham, +1-203-459-6674; or Media - Maria Gordon Shydlo,
+1-203-459-7674, all of Oxford Health Plans
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