Pharmacy-benefit manager Express Scripts Holding Co. has named James Havel to serve as its finance chief, returning him to a role he held on an interim basis two years ago.
Mr. Havel succeeds Eric Slusser, who will remain with the St. Louis-based company through the first three months of 2018. Mr. Slusser, who is leaving the company to pursue other opportunities, joined Express Scripts in September 2015, according to the company's website.
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A spokesman for Express declined to comment further.
Mr. Havel is slated to assume the CFO role Wednesday, the company said. He worked for more than 30 years for Ernst & Young LLP, and was interim finance chief for Express Scripts from January 2015 to September 2015 and remained in the role of executive vice president, finance until March 2016, according to a regulatory filing.
From April 2016 through November 2016, Mr. Havel served as chief operating officer of Vatterott Educational Centers, a private for-profit college group. Most recently, Mr. Havel operated Havel Associates, LLC, a consulting firm.
"We are pleased to have a professional with Jim Havel's financial and operational expertise, as well as proven experience with Express Scripts, to lead our finance function and manage a seamless transition," said Tim Wentworth, chief executive of Express Scripts.
Mr. Havel will receive a base salary of $750,000 and is eligible to collect a bonus target at 100% of his salary. He will also be awarded a one-time grant of restricted stock units valued at $2.5 million, which will vest in three years. Beginning next year he will eligible for annual equity grants with a targeted value of $2.75 million.
Earlier this month, Express Scripts said it would buy private medical-benefits manager eviCore healthcare for $3.6 billion. Express Scripts said the deal, which is expected to close at the end of the year, is part of an effort to reposition the business as it grapples with replacing revenue following the expected loss of insurer Anthem Inc. as its largest customer.
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(END) Dow Jones Newswires
October 24, 2017 19:09 ET (23:09 GMT)