UPDATE 1-WellCare CEO Schiesser to hand over leadership

* CEO to leave once health insurer finds replacement

* Follows resolution of government probes

NEW YORK June 29 (Reuters) - The chief executive officer of WellCare Health Plans Inc (WCG.N), Heath Schiesser, intends to leave his post now that the health insurer has taken steps to move past various government probes.

Schiesser informed WellCare's board on Friday that he would resign his current officer and director positions upon the appointment of a new president and CEO.

WellCare's board has formed a committee to focus on leadership transition, the company said on Monday.

Schiesser was named CEO in January 2008, about three months after more than 200 federal and state agents raided the health insurer's headquarters in Tampa, Florida. Schiesser had previously served as WellCare's senior vice president of marketing and sales.

Last month, WellCare agreed to pay $80 million to settle Florida healthcare fraud allegations. The company has also resolved an investigation by the Securities and Exchange Commission.

"As we begin the next chapter of the company's history, it is an appropriate time to focus on a transition of leadership, and I look forward to working closely with our board during that process," Schiesser said in a statement. (Reporting by Lewis Krauskopf, Editing by Maureen Bavdek)