Steven Collis
About Steven Collis
Steven H. Collis is an independent director of Elevance Health, elected effective August 1, 2025, with a term expiring at the 2027 annual meeting; he was appointed to the Audit and Finance Committees and designated an SEC “audit committee financial expert” by the Board . He is Executive Chairman of Cencora (formerly AmerisourceBergen) and previously served as its President and CEO (2011–2024) . Collis earned a Bachelor of Commerce (Honors) from the University of the Witwatersrand; public biographies place his birth year as 1961/1962 (age ~63–64) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Cencora (AmerisourceBergen) | Executive Chairman of the Board | Oct 2024 – Present | Board leadership; strategic oversight . |
| Cencora (AmerisourceBergen) | Chairman, President & CEO | 2016 – Sep 2024 | Led rebrand to Cencora (2023), major acquisitions/partnerships; global expansion . |
| AmerisourceBergen | President & CEO | 2011 – 2016 | CEO succession; scale-up of specialty distribution and services . |
| AmerisourceBergen | President | 2009 – 2011 | Executive leadership transition . |
| AmerisourceBergen Specialty Group | President | 1994 – 2009 | Built market-leading specialty distribution platform . |
Notable transactions under Collis’ leadership include World Courier (2012), Walgreens Boots Alliance strategic partnership (2013), MWI Veterinary (2015), and Alliance Healthcare (2021), which expanded Cencora’s global reach and capabilities .
External Roles
| Organization | Role | Type | Notes |
|---|---|---|---|
| Cencora (NYSE: COR) | Executive Chairman; Director | Public company | Current board seat and leadership . |
| International Federation of Pharmaceutical Wholesalers | Director | Industry association | Board role (industry non-profit) . |
| American Red Cross | Board of Governors (member) | Non-profit | Governance/oversight role . |
Board Governance
- Independence status: The Board determined Collis is independent under NYSE/SEC standards; he was elected as an independent director .
- Committee assignments: Audit Committee and Finance Committee; designated an “audit committee financial expert” .
- Tenure and term: Director since August 1, 2025; term to expire at the 2027 annual meeting .
- Board structure and practices (context): Independent Chair; fully independent Audit, Compensation & Talent, Governance, and Finance Committees; annual board/committee/individual evaluations (with external facilitation); independent director executive sessions; majority voting in uncontested elections .
- Attendance baseline: In 2024, the Board held six meetings and each director attended at least 75% of Board and applicable committee meetings; Collis joined in 2025, so 2024 attendance does not apply to him .
Fixed Compensation
| Component | Amount/Terms | Notes |
|---|---|---|
| Annual Board Retainer (cash) | $125,000 | Paid quarterly in advance . |
| Committee Chair Retainer (each committee) | $30,000 | Paid quarterly; only if serving as chair . |
| Non-Executive Chair Retainer | $260,000 | Paid quarterly . |
| Lead Director Retainer | $50,000 | Paid quarterly (if applicable) . |
| Annual Equity Grant (deferred shares) | $225,000 value | Granted on annual meeting date; number of shares = $225,000 / closing price; deferred for minimum 5 years . |
| Partial (Pro-Rated) Equity Grant for Mid‑Year Joiners | Pro‑rated based on days to next annual meeting | Granted first business day of month after effective date; same 5‑year deferral . |
| Director Ownership Guideline | $625,000 of ELV stock within 5 years | Includes directly owned and deferred shares; excludes options/PSUs . |
| Annual Physical Exam | Company-paid | Benefit for each director . |
| Expense Reimbursement | Travel/lodging/related | Standard board practice . |
| Matching Gifts | Up to $10,000 per year | Company foundation match . |
Collis will receive standard non-employee director compensation; no bespoke arrangements were disclosed in his election 8‑K .
Performance Compensation
| Element | Structure | Metrics/Notes |
|---|---|---|
| Director equity | Time-based deferred common stock | Deferred minimum 5 years; dividend equivalents accrue and are paid in cash at end of deferral; no stock options outstanding for directors; no performance metrics apply to director pay . |
Other Directorships & Interlocks
| Company/Entity | Relationship to ELV | Potential Interlock/Consideration |
|---|---|---|
| Cencora (pharma distribution) | Potential vendor/customer ecosystem adjacency to payers/PBM | Board has determined no Item 404(a) related-party transactions at election; continue monitoring for ordinary-course arrangements between ELV and Cencora entities . |
ELV policy limits outside public boards to three for non-CEO directors; Collis’ two current public boards (Cencora and ELV) are within this limit .
Expertise & Qualifications
- Financial expertise: Designated an SEC “audit committee financial expert,” aligning with Audit Committee oversight needs .
- Healthcare supply chain leadership: Multi-decade operator across specialty distribution, global logistics, and manufacturer services; led major M&A and partnerships at Cencora .
- Education/credentials: BCom (Honors), University of the Witwatersrand; extensive public company board leadership .
Equity Ownership
| Item | Detail |
|---|---|
| Initial ELV equity award | Pro‑rated deferred share grant based on $225,000 value; granted first business day of month after effective date; 5‑year deferral; dividend equivalents accrue during deferral and are paid in cash at distribution . |
| Director ownership guideline | Must own at least $625,000 in ELV stock (including deferred shares) within 5 years of joining . |
| Hedging/pledging | ELV prohibits hedging, short sales, publicly traded options, margin accounts, and pledging for directors and designated associates . |
Governance Assessment
-
Positives
- Adds deep healthcare distribution/supply chain expertise to Audit and Finance oversight; recognized as an “audit committee financial expert,” bolstering financial governance .
- Strong alignment and risk controls: robust director stock ownership requirements ($625k target), five-year deferral on equity, and explicit bans on hedging/pledging .
- Board governance quality: independent Chair; fully independent key committees; external-facilitated evaluations; majority voting; regular executive sessions .
-
Watch items / potential conflicts
- Commercial adjacency: As Executive Chairman of Cencora, monitor for any future commercial arrangements with ELV or its PBM (ordinary-course vendor relationships could arise industry-wide). The company disclosed no related‑party transactions under Item 404(a) at the time of Collis’ election .
- Attendance and engagement: Board-wide attendance exceeded 75% in 2024, but Collis joined in August 2025—monitor subsequent proxy disclosures for his attendance and engagement metrics .
- Overboarding risk appears low: ELV policy allows up to three other public boards; Collis currently serves on one other (Cencora) besides ELV .
Summary: Collis’ appointment strengthens ELV’s financial and healthcare operations oversight with limited overboarding risk, strong ownership alignment requirements, and no related‑party conflicts disclosed at election; continued monitoring for ecosystem interlocks is appropriate .