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StayWell buyout, under sole ownership
HAGÅTÑA, Guam—The sole owner of StayWell, Chen Yu Mack, said yesterday that the company has embarked on an exciting new chapter, “one infused with energy and a renewed commitment to excellence for its members and the community.”
One of the original founders of the company, Mack is also the new president and CEO of StayWell and Island Home Insurance Company. Mack was involved from the time of the company’s inception and is now the sole owner through a recent buyout of its previous shareholders.
Chen Yu Mack
Mack’s leadership is augmented by StayWell’s board of directors, which includes longtime professional businessmen Michael Sablan, CPA, George Lostracco, and Joseph Camacho, EVP/COO of CU Holdings.
“I am so fortunate to have the best on our board. The business acumen and proven abilities that Mike, George, and Joe bring are exactly what is needed to fulfill the new vision for StayWell,” said Mack.
Camacho said: “StayWell is a strong company and with a renewed and refreshed direction it will be even better. Our members and the community have much to look forward to. Our plans are exciting. As a board, we support Chen and the management team and are committed to providing nothing short of excellence to our members and the community of Guam.”
Since 1988, Mack has been involved in the company’s challenges, successes, and operations and eventually became a shareholder and director. In 2008, Mack formed Island Home Insurance Company to be the underwriter for StayWell Insurance. Mack’s background and success includes the acquisition and management of commercial and residential real estate in the U.S. mainland.
“Being at the helm of reinvigorating a company can be challenging. I am confident and positive because StayWell has an outstanding team of managers and employees. More than half of our key managers have been with the company for over 10 years while some have been with us for over 20 years. It is the dedication and commitment of those that drive this company that have made it successful, and now we are all looking forward to the challenge of making it even better,” she said. (StayWell)
