Mac Crawford

AAA

DEFINITION of 'Mac Crawford'

Former CEO, president and chairman of Nashville-based Caremark, a mail-order pharmaceutical and pharmacy benefits management company. In 1997, Mac Crawford became president and CEO of physician-practice management company MedPartners. When he joined MedPartners, it was struggling with operating losses and a high level of debt. It sold most of its physician-practice management companies to focus on pharmacy benefits management and changed its name to Caremark.


In 1998, Crawford became the company's CEO, president and chairman. He increased Caremark's revenues, paid off its debt and helped it acquire rival AdvancePCS. In 2007, Caremark merged with pharmacy CVS to become the Fortune 20 company CVSCaremark.


After leaving Caremark, Crawford became the co-founder and principal in 2008 of CrawfordSpalding Group, a business advisory and management services company whose services are based on Crawford's experience in turning around struggling companies.

INVESTOPEDIA EXPLAINS 'Mac Crawford'

Born in 1949, Crawford earned his bachelor of science degree in accounting from Auburn University and began his career as an accountant with Arthur Young & Co. in 1971. He joined GTI in 1981 as its CFO, became CFO of Oxylance in 1985, became president of Mulberry Street Investment Company in 1986 and later became chairman, CEO and president of Charter Medical Corp., which he helped rescue from Chapter 11 bankruptcy. In 1995, Crawford became chairman, CEO and president of Magellan Health Services when Charter purchased Magellan and took its name.

RELATED TERMS
  1. Chairman

    An executive elected by a company's board of directors that is ...
  2. Corporate Headquarters

    A place where a company's executive offices and executives' direct ...
  3. Health Savings Account - HSA

    An account created for individuals who are covered under high-deductible ...
  4. Health Reimbursement Account - ...

    Employer-funded plans that reimburse employees for incurred medical ...
  5. Board Of Directors - B Of D

    A group of individuals that are elected as, or elected to act ...
  6. Corporate Governance

    The system of rules, practices and processes by which a company ...
RELATED FAQS
  1. How are Rupert Murdoch's holdings distributed?

    Rupert Murdoch owns a controlling share of News Corporation and over 750 different businesses. Some of the major brands he ... Read Full Answer >>
  2. How did Bernard Baruch attain his wealth?

    Bernard Baruch obtained his fortune by investing in profitable stocks on Wall Street. Baruch is known as a legendary stock ... Read Full Answer >>
  3. Why was Bernard Baruch known as the "Park Bench Statesman?"

    As someone who preferred to conduct his meetings in informal settings and was led by persuasion rather than pressure, Bernard ... Read Full Answer >>
  4. How did Nathan Rothschild become a stock exchange speculator?

    Market maker Nathan Rothschild learned much of his financial savvy from his father, who dealt in coins and paper money. He ... Read Full Answer >>
  5. What advice does Howard Schultz offer would-be business moguls?

    Starbucks CEO, billionaire and former sports tycoon Howard Schultz has several pieces of advice for would-be moguls and, ... Read Full Answer >>
  6. Why did Howard Schultz leave Starbucks, only to return eight years later?

    Howard Schultz left Starbucks in 2000 due to exhaustion from growing Starbucks from a regional coffee chain to a global company ... Read Full Answer >>
Related Articles
  1. Insurance

    Health Insurance Tips For College Students

    Why buy for health insurance when your parents' policy can cover you? Read on to avoid paying twice.
  2. Home & Auto

    Fighting The High Costs Of Healthcare

    If your employer is cutting medical benefits, a health savings account may be right for you.
  3. Home & Auto

    Concierge Healthcare: The Pros and Cons Of Having A Doctor On Call

    Concierge healthcare can mean extra attention from your doctor when you need it, but it isn't the best substitute for health insurance.
  4. Fundamental Analysis

    Evaluating Pharmaceutical Companies

    Learn how to find a healthy pharmaceutical investment in a market full of weak drugs.
  5. Active Trading Fundamentals

    Evaluating A Company's Management

    Financial statements don't tell you everything about a company's health. Investigate the management behind the numbers!
  6. Home & Auto

    How To Avoid Medical Debt

    Find out what you can do to avoid a financial meltdown when there's a medical emergency.
  7. Retirement

    Failing Health Could Drain Your Retirement Savings

    You may not be able to prevent illness, but it doesn't have to infect your savings.
  8. Investing

    The Right Mindset for CEO Success

    Owning the role of CEO is no simple task so it is imperative that CEOs have the correct mindset to ensure the success of their organization.
  9. Stock Analysis

    Are These America's 5 Best CEOs?

    Do great leaders lead to great investment opportunities? Here's a few to consider.
  10. Investing Basics

    Pfizer CEO: The Story Behind Ian Read

    Learn about the rise of Ian Read, the CEO of Pfizer. Pfizer is one of the most profitable and largest pharmaceutical companies in the world.

You May Also Like

Hot Definitions
  1. Multicurrency Note Facility

    A credit facility that finances short- to medium-term Euro notes. Multicurrency note facilities are denominated in many currencies. ...
  2. National Currency

    The currency or legal tender issued by a nation's central bank or monetary authority. The national currency of a nation is ...
  3. Treasury Yield

    The return on investment, expressed as a percentage, on the debt obligations of the U.S. government. Treasuries are considered ...
  4. Bund

    A bond issued by Germany's federal government, or the German word for "bond." Bunds are the German equivalent of U.S. Treasury ...
  5. European Central Bank - ECB

    The central bank responsible for the monetary system of the European Union (EU) and the euro currency. The bank was formed ...
  6. Quantitative Easing

    An unconventional monetary policy in which a central bank purchases private sector financial assets in order to lower interest ...
Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!