FRISCO, Texas–(BUSINESS WIRE)–Magellan Health, Inc. today announced that Derrick Duke has been appointed chief executive officer, succeeding former CEO Ken Fasola. Fasola has been named the executive vice president, Health Care Enterprises (HCE) at Centene.
“Derrick is a tremendous executive who will provide exemplary leadership to Magellan as it continues on its growth journey,” said Fasola. “It has been a great honor to serve Magellan as CEO, and I look forward to working with Derrick as he embarks on his new role.”
Duke joined Magellan Health in 2020 as chief risk officer, a role he held until January of 2022 when he took on the role of chief operating officer and chief financial officer, responsible for the finance organization, business transformation office, information technology, and behavioral health network and clinical operations. As CEO, Duke will be responsible for Magellan’s strategic direction and overall growth, as well as the development and operational execution of the Company’s business strategy.
“I am deeply honored to be named CEO of Magellan and am immensely proud to have been chosen to serve in this role,” said Duke. “I’m proud to be leading a company that is devoted to its mission and making an impact to the health and wellbeing of the communities we serve.”
Prior to joining Magellan, Duke held multiple leadership roles at HealthMarkets, one of the largest health insurance agencies and ancillary insurance product underwriters in the U.S. He served as chief financial officer and chief operating officer from 2015 until the sale of the company to UnitedHealth Group in 2019. In previous HealthMarkets leadership roles, Duke had oversight of finance, actuarial, customer service, information technology, and underwriting. He also held the role of chief investment officer for more than 15 years.
Before joining HealthMarkets, Duke served as executive vice president and chief investment officer of National Health Insurance, now a subsidiary of Allstate Insurance. He has a bachelor’s degree in finance from Hardin Simmons University, a Master of Business Administration from the University of Texas at Arlington.
About Magellan Health: Magellan Health, Inc. is a leader in managing the fastest growing, most complex areas of health, including special populations, complete pharmacy benefits and other specialty areas of healthcare. Magellan supports innovative ways of accessing better health through technology, while remaining focused on the critical personal relationships that are necessary to achieve a healthy, vibrant life. Magellan’s customers include health plans and other managed care organizations, employers, labor unions, various military and governmental agencies and third-party administrators. For more information, visit MagellanHealth.com.