CorVel Corporation Announces Retirement of V. Gordon Clemons

CorVel Corporation, a leading healthcare management services provider listed on the Nasdaq Global Select Market under the ticker symbol CRVL, recently disclosed significant changes within its leadership structure through an 8-K SEC filing.

On November 26, 2024, V. Gordon Clemons, a long-serving employee and Chairman of the Board at CorVel Corporation, informed the company of his decision to retire. Clemons had been with the company for 37 years and played a pivotal role in its growth and development. Upon his retirement, effective immediately, Mr. Clemons and the company mutually agreed to terminate his Employment Agreement and Covenant Not to Compete, highlighting a smooth transition.

Subsequently, on the same day, the Board appointed Michael G. Combs, who serves as the Chief Executive Officer and President of CorVel Corporation, as the new Chairman of the Board. The transition was seamless, with no additional compensation expected for Mr. Combs in his new role. The move ensured continuity in leadership and a clear path forward for the company.

In response to these changes, on November 29, 2024, CorVel Corporation issued a press release officially announcing Mr. Clemons’ retirement and Mr. Combs’ appointment to the Board and election as Chairman of the Board. The company expressed gratitude towards Mr. Clemons for his longstanding dedication and leadership, acknowledging his instrumental role in shaping CorVel’s success over the years.

Looking ahead, Mr. Combs emphasized the importance of preserving CorVel’s core values and commitment to innovation, excellence, and service. He praised Mr. Clemons for his vision and strategic direction that laid the foundation for the company’s achievements and stated that CorVel will continue to build on that legacy.

The company emphasized that the forward-looking statements made in the press release are subject to various risks and uncertainties, in line with the U.S. Private Securities Litigation Reform Act of 1995. CorVel Corporation remains focused on navigating these challenges while maintaining its commitment to delivering value to its stakeholders.

Overall, the retirement of V. Gordon Clemons and the appointment of Michael G. Combs mark a significant transition in leadership at CorVel Corporation, underscoring the company’s dedication to seamless succession planning and sustained growth in the healthcare management sector.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read CorVel’s 8K filing here.

CorVel Company Profile

CorVel Corporation provides workers’ compensation, auto, liability, and health solutions. It applies technology, including artificial intelligence, machine learning, and natural language processing to enhance the managing of episodes of care and the related health care costs. The company also offers network solutions services, including automated medical fee auditing, preferred provider management and reimbursement, retrospective utilization review, facility claim review, professional review, pharmacy, directed care, clearinghouse, independent medical examination, and inpatient medical bill review services, as well as Medicare solutions.