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twitterPacifiCare CEO quits, stock falls
Thursday, Oct. 26, 2000 | 11:07 a.m.
THE ASSOCIATED PRESS
SANTA ANA, Calif. -- PacifiCare Health Systems Inc., the nation's biggest provider of Medicare coverage, Wednesday announced the resignation of its president and chief executive officer.
Robert W. O'Leary had been on the job just three months; his resignation is effective immediately. Chief Financial Officer Howard Phanstiel was named interim CEO.
PacifiCare, a big insurer in Nevada, has struggled along with other large health maintenance organizations to cope with rising costs.
Its already beleaguered stock fell $1.56 to $10.44 Wednesday.
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