WebMD Health (WBMD) Names Steven L. Zatz as CEO; Schlanger Leaving by Mutual Agreement

September 19, 2016 8:03 AM EDT

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WebMD Health Corp. (NASDAQ WBMD), the leading source of health information, today announced that the Board of Directors has appointed Steven L. Zatz, M.D., its President, to serve as its Chief Executive Officer, effective immediately.

Dr. Zatz has been a member of the senior leadership of WebMD and its predecessor companies for 17 years. Dr. Zatz was appointed President of WebMD in 2013 and, for the last three years, has been responsible for all aspects of the Company's advertising and sponsorship business, which represents approximately 80% of the Company's revenue. Prior to becoming President, Dr. Zatz was Executive Vice President of Professional Services, responsible for Medscape, the Company's flagship site for healthcare professionals. As a result of this transition, Dr. Zatz's responsibilities will expand to include WebMD Health Services.

Martin J. Wygod, Chairman of WebMD, said "Steve and his very talented team have done a great job in developing Medscape into a global brand and in further strengthening WebMD's position as the leading brand of heath information for consumers. In light of Steve's deep knowledge of our business and industry, as well as his longstanding relationships across our company, I am confident that this transition will be seamless for our customers, partners and employees."

The company also announced that David J. Schlanger, who has served as CEO since 2013, is leaving the Company by mutual agreement.

Mr. Wygod added, "On behalf of the Board of Directors, we thank David for his contributions as CEO over these last three years. Under David's and Steve's leadership, we have achieved strong financial results, extended our market leading position, and strengthened the WebMD and Medscape brands. We wish David well in his future endeavors and Steve continued success in his new position."

"It is a profound privilege for me to be able to lead WebMD at this time," said Dr. Zatz. "As much as we've accomplished to date, I believe there are even greater opportunities ahead both in the US and worldwide."

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