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.
Arnold said that he is leaving the company in a healthy position. “In the
last two years, we have put together the assets required for WebMD to take a
leading role in the evolution of healthcare,” he said
“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.”
