WebMD Appoints Steven Zatz As CEO; Lifts Stock Repurchase Program - Quick Facts

(RTTNews) - WebMD Health Corp. (WBMD), a provider of health information services, announced Monday that the Board of Directors has appointed Steven Zatz, its President, to serve as its Chief Executive Officer, effective immediately.

Zatz succeeds David Schlanger, CEO since 2013, who is leaving the Company by mutual agreement.

Zatz has been a member of the senior leadership of WebMD and its predecessor companies for 17 years. He was appointed President of WebMD in 2013. For the last three years, Zatz has been responsible for all aspects of the Company's advertising and sponsorship business, which represents approximately 80% of the revenue.

Prior to becoming President, Zatz was Executive Vice President of Professional Services, responsible for Medscape, the Company's flagship site for healthcare professionals.

Separately, WebMD Health announced an increase in its existing stock repurchase program to $50 million. This is an increase of approximately $35 million over the amount remaining from prior authorizations.