Health Net says CFO Joseph Capezza to retire Health Net announced that James Woys has been named executive vice president, chief financial and operating officer, and interim treasurer, effective September 2. This is a new position. Woys has been executive vice president and COO since November 2007. Previously Woys served as acting CFO from November 2006 through October 2007. The company announced that Joseph C. Capezza, currently executive vice president, CFO and treasurer, will retire as CFO. He will have a consulting contract with the company through year end to assist with transition issues. Capezza has been Health Netís CFO since November 2007.
Health Net downgraded to Sell from Buy at Citigroup Citigroup downgraded Health Net two notches to Sell from Buy citing the stock's 60% year-to-date rally and its belief that 2015 consensus estimates are too high. Citi thinks the company's dual enrollment in California is tracking well short of projections. It raised its price target for shares to $42 from $35.