| Thu 5 Feb 2004, 11:36 | | Destiny Health Appoints New CEO |
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Discovery Holdings Limited - Destiny Health Appoints New CEO
DISCOVERY HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1999/007789/06)
Share code: DSY
ISIN : ZAE000022331
("Discovery" or "Discovery Holdings")
Destiny Health Appoints New CEO
Financial services expert tapped to propel Discovery"s consumer-driven health
plans into the mainstream US healthcare market
Johannesburg, 5 February 2004 - Discovery Holdings announced today that its US
subsidiary, Destiny Health, has appointed J. Scott Spiker as President and Chief
Executive Officer, replacing Ken Linde, who will remain as a member of the
board.
Spiker joins Destiny Health with broad financial services-industry experience,
including senior level positions in banking, investment brokerages, health
insurance and benefits consulting companies. He brings expertise in both large
environments and entrepreneurial endeavors, helping organizations define their
core strengths and devise and execute appropriate market and growth strategies.
"Discovery undertook an extensive process to identify and approach Scott for
this position," said Adrian Gore, CEO of Discovery Holdings. "Destiny Health is
making significant progress, and we have recognized the need for a CEO in the US
that brings the stature and discipline that will continue to propel Destiny
Health forward, as a leader in providing consumer-driven health plans. Scott"s
strengths, style and personality are a perfect match for leading our skilled
management team. As we embark in our next phase of growth through significant
partnerships with The Guardian and Tufts Health Plan, Scott"s leadership skills
are exactly what we need."
Most recently, Spiker served as president, CEO and director of the Stanton
Group, an employee benefits company based in Minneapolis, where he led the
privately owned company through numerous acquisitions and rapid growth. Prior to
that, as president and COO of Definity Health, he was instrumental in bringing
the company to fully operational status by building a disciplined, strategic
approach to business development and operations for the privately held provider
of healthcare benefits. Additionally, Spiker has served in senior leadership
positions at Dain Rauscher, Norwest Corporation (now Wells Fargo Corporation)
and other financial institutions.
"Destiny Health occupies a unique place in the newly emerging field of consumer
driven health plans" said Spiker. "As the company with the most experience in
this field, they bring solutions to many of the fundamental issues facing
healthcare in the U.S. The team led by Ken Linde has done much to make Destiny
Health operationally vital. Now I look forward to working with that team and our
partners, Guardian and Tufts, to bring this plan to the mainstream."
Spiker holds an MBA from the University of Chicago Graduate School of Business
and a Bachelor"s degree from the U.S. Naval Academy. Following graduation from
the academy, Spiker fulfilled his military commitment by serving as navigator
aboard a frigate, undertaking a four-year tour of duty in India and West Africa,
and holding the position of head of Navy enlisted recruiting for the Midwest at
Great Lakes Naval Training Center. A Chicago-area native, he will relocate along
with his family, which includes wife, Nancy, and two teenage daughters.
The Destiny Health team in the US market is supported by about 69 people at the
Discovery head office in Johannesburg. The number of Destiny staff in
Johannesburg is expected to rise to 300 within the next two and a half years.
ENDS
For more information, please contact:
Rosemary Renton
Corporate Communications Consultants
Tel: (011) 783 8926 Fax: (011) 783 7608 Cell: 083 365 5152
On behalf of:
Adrian Gore CEO, Discovery Holdings
Contact: (011) 529 2800
Sandton
5 February 2004
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
CORPORATE FINANCE
Date: 05/02/2004 11:32:03 AM Produced by the JSE SENS Department
