TAMPA: Geisinger CEO Steele appointed to WellCare Health Plans board
Glenn Steele Jr., MD, president/CEO of Geisinger Health System, has been appointed to the board of directors at WellCare Health Plans, Inc. Steele's appointment was made public concurrent with the announcement that Ruben Jose King-Shaw Jr. will resign from the WellCare board at the end of the year. Steele has served in the top jobs at Geisinger Health, headquartered in Danville, PA, since March 2001. In connection with his appointment to the board, Steele received about $150,000 of restricted shares of WellCare's common stock, an SEC filing said. He also will earn fees as a director. WellCare pays all non-employee directors a base annual retainer of $50,000, effective last April, and non-employee directors also receive an additional $2,000 for each meeting of the board that they attend. Members of the committees on which Steele will serve receive an additional annual retainer of $8,000.
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