This morning, WebMD (NASDAQ:WBMD) announced that David Schalnger would be the company's new CEO, removing the interim portion from his current title. Schalnger was named interim CEO in May of this year following the sudden departure of Caven Redmond. With the announcement, the company said it would buy back 5 million of its shares at the tender offer price of $34 per share -- a modest premium to Friday's closing price. Despite the news, shares of WebMD were trading lower on Monday morning.
In other corporate news, DaVita Healthcare (NYSE:DVA) announced plans for a 2 for 1 stock split for shareholders of record on August 23rd. Shareholders will receive their new shares on September 20th. Following the announcement, shares of DVA were relatively flat, trading just above $114.
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