WebMD Names Cavan Redmond as New CEO

The former Pfizer executive joins after the website ends buyer search


Cavan Redmond has been named the new CEO at WebMD (NASDAQ:WBMD), the company announced today. A former executive at Pfizer (NYSE:PFE), Redmond previously headed the pharmaceutical giant’s animal and consumer unit. Interim CEO Anthony Vuolo will continue as CFO.

The appointment comes after the medical information website stopped efforts to attract a potential buyer, Reuters noted. WebMD has seen its advertising revenue and profits fall in recent years. The company’s former CEO, Wayne Gattinella, left the company in January.

Pfizer is Still a Pharmaceutical-Giant Buy
Pfizer is Still a Pharmaceutical-Giant Buy

The company has attracted the interest of billionaire investor Carl Icahn, who has acquired a 13.12% stake as of April.

The website attracts about 25 million online visitors a month and ranks second only to Everyday Health among medical websites.

Article printed from InvestorPlace Media, http://investorplace.com/2012/06/webmd-names-cavan-redmond-as-new-ceo/.

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