Centene executive resigns: 4 things to know

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Centene's executive vice president of healthcare enterprises has resigned, the health insurance company said in a Sept. 27 filing with the Securities and Exchange Commission. 

Four things to know: 

1. Centene said Jeffrey Schwaneke's resignation was effective Sept. 22. The company and Mr. Schwaneke "mutually agreed" that he would resign from his position and entered into a separation agreement, according to the SEC filing.

2. Under the separation agreement, Mr. Schwaneke will receive one year of his current salary. He also will receive a cash payment of $3 million in exchange for relinquishing any accelerated vesting of his outstanding and unvested equity awards.  

3. Centene said Mr. Schwaneke will not receive a prorated annual bonus for this year. 

4. Mr. Schwaneke stepped into the role of executive vice president of healthcare enterprises in May. He previously served as the company's CFO.

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