Centene Corporation has tapped a new chief financial officer.
Drew Asher stepped into the position of executive vice president and CFO as of Friday, replacing Jeffrey Schwaneke. Asher will report to CEO Michael Neidorff.
Schwaneke will move into the role of executive vice president of HealthCare Enterprises, Centene said in its announcement. HealthCare Enterprises is a growing Centene subsidiary that includes its platforms for third parties.
Asher joined Centene as part of the insurer's acquisition of rival WellCare, and previously served as executive vice president of specialty.
RELATED: Centene CEO Neidorff raked in nearly $25M last year. Take a look what other insurance execs earned
"Consistent with our rotation practice and in an effort to enhance his operational experience, Drew has been responsible for all Specialty product lines for the past 18 months," Neidorff said in a statement. "Drew brings critical skills to his new role, given his leadership experience, financial expertise as well as a strong understanding of the managed care space."
"His track record at WellCare demonstrates his ability to lead a growing enterprise as CFO. At Centene, he has been instrumental in driving the strategy and leading the growth of our overall specialty business since the beginning of last year," Neidorff added. "I've been impressed with Drew since first meeting him several years ago and I'm pleased to welcome Drew to his new role."
In the new position, Asher will oversee Centene's accounting, treasury, tax, actuarial services, health economics and more. He will work with Schwaneke to manage the executive transition.
"Since joining Centene over a year ago, I've seen firsthand the agility and operational execution of our organization in a highly dynamic and challenging landscape, while consistently serving our members and state partners," Asher said in a statement. "I look forward to leading our experienced finance team in my new role as we look to deliver on our growth objectives, execute on our disciplined capital allocation strategy and generate long-term value for our shareholders."