Barry Smith is stepping down as chairman and CEO of Magellan Health Inc.
The announcement comes in the wake of a high-profile activist investor shaking up the board of the Scottsdale-based managed care and pharmacy benefits company in the wake of share price declines.
Magellan reported Smith's pending retirement to the U.S. Securities and Exchange Commission in a regulatory filing.
He was elected to the board in 2011, named CEO in January 2013 and executive chairman in January 2014.
