Corvel Corporation (NASDAQ: CRVL) has announced the retirement of V. Gordon Clemons, who served as the chairman of the board for 37 years, effective November 26, 2024. Upon Clemons' retirement, Michael G. Combs, the company’s president and chief executive officer, was appointed as the new chairman of the board.
Under Clemons' leadership, Corvel Corporation experienced significant growth and transformation. Clemons' commitment to technological innovation, conservative fiscal practices, entrepreneurship, exceptional service, internal growth and opportunity, and a vision to make a meaningful difference in the market has been instrumental in shaping the company's success.
Clemons' impact on the organization is undeniable, as he set the strategic direction, acquired companies, and formed partnerships to expand Corvel's capabilities while providing guidance. His dedication has left an indelible impact on the organization.
Michael G. Combs, in acknowledging Clemons' contributions, emphasized that Clemons' legacy will continue to inspire and guide the organization as they move forward. Combs expressed confidence in the executive team's commitment to continuing the tradition of innovation, excellence, and vision that has characterized Corvel under Clemons' guidance.
Clemons will continue to be available to Combs as an outside consultant, ensuring that his wealth of knowledge and experience remains accessible to the company.
The announcement marks a significant transition in Corvel Corporation's leadership, with Combs taking on the role of chairman of the board. This change comes at a time when the company is poised to carry forward the legacy of innovation and excellence established under Clemons' leadership. Today the company's shares have moved 1.1% to a price of $365.4. For more information, read the company's full 8-K submission here.
