Frank Williams, the CEO of Evolent Health, is stepping down from the role Oct. 1.
Seth Blackley, Evolent's co-founder and president, will be promoted to CEO on the same day. He has served as the company's president for nine years. Mr. Williams will remain with the company as its executive chairman.
The leadership change comes as Evolent moves to spin off assets of its health insurance subsidiary, Passport Health Plan, to Molina Healthcare. Under the transaction, Molina will acquire the Passport name and will employ about 500 Kentucky-based Passport and Evolent Health employees.
Evolent became a majority holder of Passport when it acquired 70 percent of its stake in 2019.