Board of Directors
Allen F. Wise was elected chairman of the board of directors for HealthMarkets in July 2006. He also serves as chairman of the board of directors of Coventry Health Care, a national managed health care company based in Bethesda, Md. For eight years Mr. Wise served as Coventry Health Care's president and chief executive officer. Prior to his tenure at Coventry Health Care, he was executive vice president at UnitedHealth Group, Inc., and its predecessor, MetraHealth Companies, Inc. Earlier in his career, Mr. Wise served as president and chief executive officer of Wise Health System, a health care investment company; president and chief executive officer of Keystone Health Plan; and served as chief operating officer of Independence Blue Cross. Mr. Wise earned a B.A. from Wichita State University. Mr. Wise is a director of Magellan Health Services, Inc.
William J. Gedwed has served as a director of HealthMarkets since June 2000 and as president and chief executive officer since July 1, 2003. Mr. Gedwed is a member of the Executive Committee and the Nominating Committee of the Board. Mr. Gedwed also currently serves as a Director and Chairman of the Board of The MEGA Life and Health Insurance Company, Mid-West National Life Insurance Company of Tennessee (based in Texas), The Chesapeake life Insurance Company, Fidelity First Insurance Company and Fidelity Life Insurance Company (subsidiaries of the Company). He also serves as President and Chief Executive Officer of Fidelity Life Insurance Company. Mr. Gedwed currently serves as a director of NMC Holdings, Inc. and Motor Club Investors Inc. Mr. Gedwed received his B.S. and M.B.A. from the University of Houston. He also served as a director and/or executive officer of other subsidiaries of NMC Holdings, Inc. until December 2005.
Chinh F. Chu is a Senior Managing Director of The Blackstone Group LP, which he joined in 1990. Mr. Chu has served as a director of HealthMarkets since April 2006. He is a member of the Executive, Executive Compensation, Compliance & Governance, and Nominating Committees of the Board. Mr. Chu received a B.S. in Finance from the University of Buffalo, where he graduated summa cum laude. He currently serves as a director of Celanese Corporation, Nalco Holdings LLC, SunGard Data Systems, Inc., Graham Packaging Holdings Company, Financial Guaranty Insurance Company and Encore Medical Corporation.
Harvey C. DeMovick, Jr. joined the Board of Directors of the Company effective August 30, 2007. From 1997 to 2007, Mr. DeMovick served as Executive Vice President of Coventry Health Care, responsible for Customer Service Operations and Information Technology. Prior to that time, Mr. DeMovick served in a variety of executive positions at United Health Care and CIGNA Insurance Corporation.
Adrian M. Jones has been a Managing Director of Goldman, Sachs & Co. since 2002. Mr. Jones has served as a director of HealthMarkets since April 2006. He is a member of the Executive, Executive Compensation, Compliance & Governance and Investment Committees of the Board. Mr. Jones joined Goldman, Sachs & Co.'s Investment Banking Division in 1994 and moved to its Merchant Banking Division in 1998. Before joining Goldman Sachs, Mr. Jones served as a lieutenant in the Irish Army and worked at Bank of Boston. Mr. Jones earned a B.A. from University College Galway, an M.A. in Economics from University College Dublin and an M.B.A. from Harvard Business School. Mr. Jones currently serves on the boards of directors of Burger King Corporation, Autocam Corporation and Signature Hospital Holdings.
Mural R. Josephson has been a director since May 2003 and is a member of the Audit Committee and Executive Compensation Committee of the Board. Following his retirement in October 2002 as Senior Vice President and Chief Financial Officer of Lumbermens Mutual Casualty Company (the lead company of Kemper Insurance Companies), Mr. Josephson has served as a consultant to various financial institutions. In July 1998, Mr. Josephson retired as a partner with KPMG LLP after 28 years with the firm. Mr. Josephson is a licensed Certified Public Accountant in the State of Illinois, and is a member of the American Institute of Certified Public Accountants. He has served as a director and Treasurer of Omni Youth Services (Buffalo Grove, Illinois) since October 2003, as a director of SeaBright Insurance Holdings, Inc. (a publicly-traded company providing multi-jurisdictional workers' compensation insurance) since February 2004 and as a director of PXRE Group Ltd. (a publicly-traded company providing primarily catastrophe and risk excess reinsurance products and services) since August 2004. Mr. Josephson received his B.S. in Accountancy from Northern Illinois University.
Matthew Kabaker is a Managing Director of The Blackstone Group LP, which he joined in 1998. Mr. Kabaker has served as a director of HealthMarkets since April 2006. He is a member of the Audit, Executive Compensation, Compliance & Governance and Investment Committees of the Board. Mr. Kabaker received a B.A. in Philosophy, Politics & Economics from the University of Pennsylvania, where he graduated summa cum laude and was elected to Phi Beta Kappa. Mr. Kabaker currently serves on the boards of directors of TRW Automotive, Financial Guaranty Insurance Company, Ariel Reinsurance Holdings and Michaels Stores, Inc.
Andrew S. Kahr has been a director of HealthMarkets since August, 2006. Mr. Kahr retired as Chairman and Chief Executive Officer of Providian Corporation in 1986. Following his retirement, Mr. Kahr has been a consultant in consumer services marketing and development, as he was prior to founding Providian. Earlier in his career, Mr. Kahr was Financial Vice President of Ventron Corporation, a public company. Mr. Kahr holds a B.A. from Harvard College and a Ph.D. in Mathematics from The Massachusetts Institute of Technology.
Sumit Rajpal is a Managing Director in the Principal Investment Area of Goldman, Sachs & Co. which he joined in 2000. Mr. Rajpal has served as a director of HealthMarkets since June 2007. He is a member of the Audit Committee of the Board. Prior to joining Goldman Sachs, Mr. Rajpal worked for McKinsey & Company. Mr. Rajpal currently serves on the board of directors of USI Holdings Corporation, Entertainment Co AB (CSI), Alliance Films, and Buck Acquisition (Dollar General).
Kamil M. Salame is a partner of DLJ Merchant Banking Partners, the leveraged buyout business of Credit Suisse's asset management business. Mr. Salame has served as a director of HealthMarkets since April 2006. He is a member of the Executive, Nominating and Investment Committees of the Board. Mr. Salame joined DLJ Merchant Banking Partners in 1997. Previously, he was a member of DLJ's Leveraged Finance Group. Mr. Salame is a director of Aspen insurance Holdings Limited, Merrill Corporation, Professional Career Development Institute, LLC and US Express Leasing, Inc. Mr. Salame received a B.S. from Georgetown University, a J.D. from Columbia Law School and an M.B.A. from Columbia Business School.
Steven J. Shulman began serving as a director for HealthMarkets in July 2006, and is a member of the Executive Compensation Committee. He also serves as chairman of Magellan Health Services, Inc. (Nasdaq:MGLN), a manager of behavioral health and radiology benefits. Prior to joining Magellan Health Services, Mr. Shulman founded IHCG, an early-stage healthcare technology venture fund, and served as its Chairman and Chief Executive Officer from 2000 to 2002. Prior to IHCG, he was employed by Prudential Healthcare, Inc. as its Chairman, President and Chief Executive Officer from 1997 to 1999. Prior to his tenure at IHCG, Mr. Shulman co-founded Value Health, Inc., a New York Stock Exchange-listed specialty managed health care company, and served as President of its Pharmacy and Disease Management Group and director from 1991 to 1997. Mr. Shulman is a member of the board of directors of IHCG, Digital Insurance, a private employee benefit service company, and BenefitPoint Inc., a private insurance software company. Mr. Shulman holds a B.S. in Economics and MS in Health Administration from State University of Stony Brook (NY).
