Magellan Health Appoints Kenneth J. Fasola as Chief Executive Officer and Member of the Board, Effective as of November 14, 2019

The Board of Directors of Magellan Health, Inc. has appointed Kenneth J. Fasola as Chief Executive Officer of the Company, and member of the Board, effective as of November 14, 2019. In connection with his appointment as Chief Executive Officer, on October 31, 2019, Mr. Fasola and the Company entered into an employment agreement. As previously disclosed, Barry M. Smith will step down as a member of the Board and Chief Executive Officer of the Company, effective as of November 14, 2019.

Mr. Fasola currently serves as Chief Growth Officer, Ancillary and Individual, at UnitedHealthcare. Previously, Mr. Fasola served as Chairman, President and Chief Executive Officer of HealthMarkets, Inc, from October 2010 through April 2019. Prior to joining HealthMarkets, Mr. Fasola was responsible for Humana's individual major medical, specialty and supplemental insurance operations.

Prior to that, he was Chief Executive Officer for Secure Horizons, a division of UnitedHealth Group. Additionally he served as chief executive officer of UnitedHealth Care's Central region and as national sales officer and president of UnitedHeath Care lines of business.