- Push-out Score determined
- After almost 20 years in the position
- Dale White taking over
- Tabak will remain as Chairman at MultiPlan
- Tabak spoke at length and said 188 words
(exechange) — New York, August 6, 2021 — Mark Tabak, chief executive of MultiPlan, prepares for his departure. As announced by MultiPlan Corp. in a news release published on Thursday, August 5, 2021 and in a regulatory filing published on Friday, August 6, 2021, Mark H. Tabak is preparing to leave his post as chief executive officer at the provider of healthcare cost management products after almost 20 years in the role, effective in early 2022.
It is the end of an era.
MultiPlan Corporation announced that long-time MultiPlan executive Dale White, currently President of Payor Markets, has been promoted to President and Chief Operating Officer.
“White’s promotion to President and COO is part of an orderly succession by which the Board of Directors plans to promote him to Chief Executive Officer in early 2022,” MultiPlan stated.
Mark Tabak’s move forms part of a management shake-up also involving the position of Chief Financial Officer.
No reason given
In the announcement, MultiPlan did not explicitly explain the reason for the move.
Tabak will remain as Chairman at MultiPlan
“Upon Mr. White’s elevation to CEO in early 2022, Mr. Tabak will remain actively engaged in the Company as Chairman of the Board, driving strategy, organic growth and M&A initiatives for the Company,” MultiPlan said.
MultiPlan said: “The Board also announced that it plans to appoint Mr. White as Chief Executive Officer of the Company in early 2022. Mr. Mark H. Tabak, the Company’s current Chief Executive Officer and Chairperson of the Board, is expected to continue to serve as Chief Executive Officer until Mr. White’s accession and to work closely with Mr. White to ensure a smooth transition.”
Share price decline since August 2020
The announcement follows a decline in MultiPlan Corp.’s share price of 25% since August 2020.
In the position of CEO since 2002
Mark Tabak became CEO of the Company in 2002.
Mark H. Tabak has served as the Company’s Chief Executive Officer and as a member of the Company’s Board since the closing of the Transactions in October 2020, and has served as Chief Executive Officer of MultiPlan Parent (or its predecessor) since 2002 and as a director of MultiPlan Parent since June 2016.
Tabak served as Vice Chairman of MultiPlan Parent (or its predecessor) from 2000 to 2002.
Prior to that, Tabak held executive roles at Healthcare Capital Partners, the healthcare arm of Capital Z Partners, International Management Care Advisors, LLC, now an affiliate of Insurance Partners, American International Group, Inc. (NYSE: AIG), a global insurance company, Group Health Plan Inc., a managed care company, Health America, a pioneering HMO, and The International Union, United Automobile, Aerospace, and Agricultural Implement Workers of America.
Tabak also served on a commission created to evaluate the impact of various healthcare reform proposals on New York State.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Mark Tabak’s move on a scale of 0 to 10.
exechange reached out to MultiPlan and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 32.2021 ($).