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Kaiser Permanente's Chief Financial Officer Leaving


10/19/2005 5:12:40 PM

OAKLAND, Calif., Feb. 8 /PRNewswire/ -- Robert E. Briggs, chief financial officer for Kaiser Foundation Health Plan, Inc. and Kaiser Foundation Hospitals, announced today he is leaving the organization.

"Bob has made a tremendous contribution to the financial performance and management of the company. He came in a time of financial challenge for us and is leaving at a time when the organization has never been more financially strong," said George Halvorson, chairman and CEO, in accepting Briggs' resignation. "Having gone through this transition, the timing is right for change."

Halvorson said a national search will be conducted to select Briggs' replacement. He said high on the selection criteria will be experience in adopting Sarbanes-Oxley rules and regulations.

Kathy Lancaster, KFHP/H's senior vice president for strategic planning, will serve as interim CFO, during the search for Briggs' successor.

Briggs joined KFHP/H in 2001 and was named CFO in March 2002 by former KFHP/H President L. Dale Crandall. Briggs' appointment came during a time when the company was emerging from financial hardships. Under his leadership, KFHP/H posted one of its best financial years in 2003. Through the first three quarters of 2004, the financial performance has continued to improve and, while year-end results will not be released until next month, KFHP/H is on track for another solid financial year.

Prior to joining Kaiser Permanente, Briggs was senior vice president and chief financial officer for The Pillsbury Company Worldwide. He also served as president of Arby's International, and worked at PepsiCo, where he held various domestic and international senior financial positions.

Kaiser Permanente is America's leading integrated health plan. Founded in 1945, it is a not-for-profit, group practice prepayment program with headquarters in Oakland, California. Kaiser Permanente serves the health care needs of 8.2 million members in 9 states and the District of Columbia. Today it encompasses the not-for-profit Kaiser Foundation Health Plan, Inc., Kaiser Foundation Hospitals and their subsidiaries, and the for-profit Permanente Medical Groups.

Nationwide, Kaiser Permanente includes approximately 138,000 technical, administrative and clerical employees and caregivers, and more than 11,000 physicians representing all specialties.

Kaiser Permanente

CONTACT: Mike Lassiter of Kaiser Permanente, +1-510-271-5953, ormike.lassiter@kp.org


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