WebMD Names Cavan Redmond as New CEO

by Christopher Freeburn | June 1, 2012 1:30 am

Cavan Redmond has been named the new CEO at WebMD (NASDAQ:WBMD[1]), the company announced today[2]. A former executive at Pfizer (NYSE:PFE[3]), 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.

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.

Endnotes:
  1. WBMD: http://studio-5.financialcontent.com/investplace/quote?Symbol=WBMD
  2. the company announced today: http://www.reuters.com/article/2012/06/01/us-webmdhealth-ceo-idUSBRE8500QU20120601
  3. PFE: http://studio-5.financialcontent.com/investplace/quote?Symbol=PFE

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