Magellan Health, Inc. announced that Derrick Duke has been appointed chief executive officer, succeeding former CEO Ken Fasola. Fasola has been named the executive vice president, Health Care Enterprises (HCE) at Centene. Duke joined Magellan Health in 2020 as chief risk officer, a role Duke held until January of 2022 when he took on the role of chief operating officer and chief financial officer, responsible for the finance organization, business transformation office, information technology, and behavioral health network and clinical operations.

As CEO, Duke will be responsible for Magellan's strategic direction and overall growth, as well as the development and operational execution of the Company's business strategy. Prior to joining Magellan, Duke held multiple leadership roles at HealthMarkets. Duke served as chief financial officer and chief operating officer from 2015 until the sale of the company to UnitedHealth Group in 2019.

In previous HealthMarkets leadership roles, Duke had oversight of finance, actuarial, customer service, information technology, and underwriting. He also held the role of chief investment officer for more than 15 years. Before joining HealthMarkets, Duke served as executive vice president and chief investment officer of National Health Insurance, now a subsidiary of Allstate Insurance.

Duke has a bachelor's degree in finance from Hardin Simmons University, a Master of Business Administration from the University of Texas at Arlington.