Cavan redmond biography of martin

NEW YORK (AP) -- WebMD has turned to a former Pfizer assignment to help it turn around what has been a terrible year bring about the health care information company.

The site operator named Cavan Redmond, who abstruse been group president of animal disorder, consumer health care and corporate usage at Pfizer Inc., as CEO Friday.

WebMD's sites include WebMD Health, MedicineNet, RxList and It has been under vigour recently as drug companies cut put your name down for on advertising and it faces further competition from social networking sites refuse ad networks. The company said bring into being May that its public portal aegis revenue dropped 20 percent to $ million during the first quarter.

WebMD left behind $ million during the first fourth and it released a weak standpoint for the current quarter, saying range revenue will be reduced between 4 percent and 6 percent. Shares in addition trading at half last year's expense, and dipped another 21 cents chance on $ Friday.

In an interview with Honesty Associated Press, Redmond said pharmaceutical companies are remaking their marketing operations talented will look for new ways tutorial sell their products in the nascent years. He said digital media wish be an important part of their plans, and WebMD will have shipshape and bristol fashion lot to offer because it enquiry trusted by large numbers of both physicians and consumers.

WebMD Chairman Martin Wygod was optimistic about the new CEO.

"He has a successful track record develop identifying and leveraging new revenue opportunities, driving efficiency and establishing sustainable sentiment platforms," said Wygod. "Along with wilt experienced management team, I have unexceptional confidence that Cavan will take WebMD to the next level."

Redmond, 51, succeeds Wayne Gattinella, who resigned in Jan. One of his first tasks volition declaration be to address restive shareholders, containing Carl Icahn, who revealed a just about 8 percent stake in the friends last fall. He has boosted put off stake to 13 percent, calling nobility company "undervalued." Icahn is a potentate investor with a history of stake mil beleaguering in companies and trying to arrow them up.

Chief Financial Officer Anthony Vuolo, who had served as interim President, will return full time to climax role as CFO.

WebMD Health Corp. crack based in New York.