WebMD CEO, Board Member Resign
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WebMD Corp. reported Thursday that Jeffrey T. Arnold has resigned from his position as co-CEO and from its board of directors. Martin J. Wygod is now sole CEO.
WebMD also announced the resignation of Jim Clark from its Board of Directors.
The departures follow last month's layoff of 1,100 employees. The staff cuts, which came as no surprise to the industry, were attributed to overlapping positions created by the acuqisitions of Envoy, Medical Manager, CareInsite and OnHealth.
The restructuring was expected to save the company about $250 million by the end of 2001.
"Now, the focus is on streamlining the organization and delivering maximum value to shareholders. I am confident that the team in place can successfully lead this effort."