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The Board has appointed Roy H. Bubbs, a member of the Board, to serve asthe Company's interim President and CEO. Mr. Bubbs, age 58, has served as amember of the Board since being elected to the Board by the Company'sshareholders at the 2007 annual shareholders' meeting. For the past twoyears, Mr. Bubbs has been a self-employed consultant, developing strategicbusiness and operational plans for new ventures for insurance companies andprivate investors. From 2000 to 2005, Mr. Bubbs was President of AXA Partners(formerly known as MONY Partners), a distributor of life insurance products tobrokerage firms and brokerage general agents, based in Hartford, Connecticut.Mr. Bubbs has over 30 years' experience in the insurance industry.
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The Board has also elected John W. Remshard, age 60, to serve as theChairman-elect of the Board, to succeed Benjamin A. Currier as Chair followingthe 2008 annual shareholders' meeting. Mr. Remshard has served as a member ofthe Board since July 2006. Mr. Remshard served as the Senior Vice Presidentand Chief Financial Officer of Wellchoice, a New York state health insurer forten years. Before that, he served as Vice President and Assistant GeneralAuditor for Cigna Corporation over a period of close to 20 years.
In his new role, Mr. Remshard has been charged with exploring theCompany's various strategic alternatives.
In commenting on the change in leadership, Ben Currier stated, "The Boardwishes to express its appreciation and thanks for the leadership James Calverhas provided over the last two years. In what admittedly has been achallenging period in the Company's history, James has worked very diligentlyto further the Company's efforts to effect a turnaround."
About Hooper Holmes
Hooper Holmes is the leader in collecting personal health data andtransforming it into useful information, enabling customers to take actionsthat manage or reduce their risks and expenses. As the leading provider ofrisk assessment services for the insurance industry, Hooper Holmes providesinsurers with the widest range of medical exam, data collection, laboratorytesting and underwriting services in the industry.
With presence in over 250 markets and a network of more than 9,000examiners, Hooper Holmes can arrange a medical exam anywhere in the U.S. anddeliver the results to its customers. Each year we arrange more than 2.3million medical exams and process about the same number of samples in ourlaboratory. We provide a complete service for wellness, disease management,and managed care companies including scheduling support, fulfillment ofsupplies, blood collection kits, medical screenings, lab testing and datatransmission. We underwrite 300,000 cases annually and complete more than twomillion telephone interviews. We are also a leading provider of medicalclaims evaluation services used by property and casualty insurance carriers,law firms, self-insureds and third-party administrators to handle personalinjury and accident claims.
Certain information contained herein includes information that is forward-looking. The matters referred to in forward-looking statements may beaffected by the risks and uncertainties involving the Company's business.These forward-looking statements are qualified in their entirety by cautionarystatements contained in the Company's Securities and Exchange Commissionfilings. The Company disclaims any obligation to update these forward-lookingstatements.
SOURCE Hooper Holmes
