WebMD Announces New CEO And More Than Doubles Stock Buyback Program

WebMD Health Corp. said Monday that its chief executive officer since 2013, David Schlanger, is exiting the company by "mutual agreement," with Steven Zatz, the company's president, replacing Schlanger effective immediately. WebMD also said it will be increasing the size of its stock buyback program by about $35 million to $50 million. Zatz has been a senior leader at WebMD and its predecessor companies for nearly two decades and has served as president since 2013, the company said. WebMD shares dropped 16.4% over the last three months, compared with a 3.3% rise in the S&P 500 .