Resignation: Arthur M. Southam, above, the head of Health Net, the main California HMO of Foundation Health Systems Inc., announced he was quitting Nov. 10 after Foundation reported a 52 percent drop in its third-quarter profits. Cora Tellez, 49, former head of Prudential Healthcare’s California operation, was named as Southam’s replacement on Nov. 13. Foundation in the past three months has sought to overhaul unprofitable businesses, including Health Net.
