Centene taps Chris Neczypor to succeed retiring CFO Drew Asher

Asher joined Centene in January 2020 following its acquisition of WellCare, where he was CFO, and helped steer the insurer through Medicaid eligibility redeterminations and disruptions in Obamacare Marketplace plans.

During his tenure, the company expanded from about $126 billion in revenue in 2021 to about $195 billion in 2025.

Asher's biggest test came in 2025, when Centene withdrew its 2025 earnings forecast after identifying a roughly $1.8 billion shortfall in expected risk-adjustment revenue from Obamacare plans.

Americans this year are dropping off the plans as many of them are struggling to make payments due to the end of extra subsidies created during the pandemic.

Centene is preparing for an expected decline in enrollment in Medicaid plans for lower-income individuals, as it manages the financial fallout from new work requirements and tighter state eligibility rules, which could leave it with a smaller, higher-cost member base.

The work requirements are set to take effect by January 1, potentially extending the pressure into Neczypor's first year as finance chief.

"We are incrementally cautious on the upcoming CFO change but comforted by the longer transition period," said Baird analyst Michael Ha.

Centene said on Monday Chris Neczypor would succeed Drew Asher as chief financial officer in January, while the health insurer seeks to bolster profitability following pressure in its Medicaid and Obamacare businesses.

Centene said Asher, who was its CFO since 2021, would step down in December and retire at the end of 2027, while Neczypor would join in September to ensure a smooth transition.