Healthcare >> CEO Interviews >> January 10, 2001
LEONARD D. SCHAEFFER is Chairman and CEO of WellPoint Health Networks
Inc. Mr. Schaeffer, named by Worth magazine as one of the '50 Best CEOs
in America,' managed the turnaround of Blue Cross of California, which
lost $165 million in 1987, to WellPoint, which has been profitable since
inception. He also led the recapitalization of the company in 1995,
transforming it into a stockholder owned entity, and creating America's
sixth largest philanthropy with an endowment of over $4 billion.
Previously, Mr. Schaeffer served as President of Group Health, Inc. He
was formerly Executive Vice President and COO of the Student Loan
Marketing Association, a $4.6 billion financial institution. Mr.
Schaeffer was also the Administrator of the Health Care Financing
Administration (HCFA) in the US Department of Health Education and
Welfare (now known as the Department of Health and Human Services). As
Health, Education and Welfare's (HEW) Assistant Secretary for Management
and Budget, Mr. Schaeffer was responsible for the department's budget,
financial management, organizational control automated systems and
facilities management. Before joining HEW, he was Vice President of
Citibank, N.A., and was responsible for business planning and financial
management for the Service Management Group. He also served as Director
of the Bureau of the Budget of the State of Illinois, where he developed
the state's $10 billion annual budget and was responsible for state cash
and debt management. Mr. Schaeffer also headed the Illinois Planning
Office and was Chairman of the Illinois Capital Development Board where
he oversaw state construction activities. Earlier, he had been Deputy
Director for Management, Illinois Department of Mental Health and
Developmental Disabilities, where he was responsible for financial and
management functions of the $400 million agency which operated 28
hospitals and more than 100 community programs. Mr. Schaeffer is active
on the boards of numerous business, philanthropical, and professional
organizations. A native of Evanston, Illinois, he is a graduate of
Princeton University. Profile
Mr. Schaeffer: WellPoint is a health services company that identifies
community healthcare professionals and institutions
