CHICAGO (AP) — Electronic health records company Allscripts Healthcare Solutions Inc. said Monday it appointed Dennis Chookaszian as the new chairman of its board of directors.
Chookaszian has been a member of Allscripts' board since September 2010. He was the Chairman and CEO of CNA Insurance Cos. from 1992 to 1999, and the CEO of financial advice provider mPower Inc. from 1999 to 2001.
Late Thursday, Allscripts said that it had fired Chairman Phil Pead, and three other directors resigned from the board. It said it intended to name new directors soon. The moves came as Allscripts announced disappointing first-quarter results and cut its 2012 profit and revenue estimates.
The company also said Monday that it approved the repurchase of up to $200 million in stock. Allscripts had about $148 million remaining on its previous $200 million stock buyback program, which was approved in May 2011.
Shares of Allscripts rose 41 cents, or 4 percent, to $10.71 in morning trading. The stock dropped 35.7 percent Friday. Over the past year, shares have traded between $8.99 and $21.92.