Burdick is out.
Another board change. Another transformation executive.
If your job depends on manual process instead of judgment and business impact, I’d be paying close attention.
https://www.prnewswire.com/news-releases/centene-announces-board-of-directors-changes-302835967.html
They keep hiring new people so far.
How has to Board not let London go?
It is what it is!
@a2 London Bridges falling down 👎
Honestly, Burdick is not for the company - he was there to line his pockets. When he was hired by WellCare - it was within 5yrs the company was set up nicely for a takeover by Centene. Look at the history of the career when they hire in a new C-Suite especially on the board. The new guy - what has he done in the past? Worked for an investor firm? Has history of focusing on restructuring? Hmmmm interesting background for a healthcare company on the board - not interested in the business, just lower costs, move labor force and make it look profitable to a potential buyer - INVESTOR. My bet is Centene will be for sale within a few years. They are restructuring and moving as much labor offshore - same they did with WellCare before it got sold. You are drinking the Kool-Aid of 'we loved Ken Burdick'. Did you know what he did at prior companies before he came to WellCare - same thing - structuring costs and selling companies. Wake up. If he does come back - kiss your future Centene goodbye but maybe it will be scooped up by a better company.
@a2 If Burdick was going to save Centene, today would’ve been the day. Instead, he’s leaving the board while the company is betting on layoffs, outsourcing, and AI to make the next operating model work better than the last one. If that’s the resume of the next CEO, I’d hate to see what failure looks like.
Centene escaped the call today without having their feet held to the fire. I think the comp is going to eat Centene’s lunch in the quarters and years to come, but I digress…
Burdick already realized roughly $5 million from recent stock sales and still holds about $12 million more. He’s probably going to be fine.
Don’t be surprised if he returns to replace London