Phase 1 Get rid of CEO, CFO and Board President then promotes long time protégé to President, Phase 2 Interim CEO also from Board with track record of reorganizing companies prior to merger/acquisition, Phase 3 trimmed financial/actuarial positions, Phase 4 let go of 400 director/executive director positions, Phase 5 changing culture, dress codes, etc...Don't think its Anthem because Anthem CEO (former HCSC Executive) didn't get along with Board President mentioned above but who knows, probably other mutual Blue plans like a Michigan or businesses outside Blue world, should be interesting.
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Agreed. Milton gets a huge board President salary, craines said it was $5 Million! No board people should be paid that much. Pat Hemmingway Hall gets board spot with Halliburton. Milton Fires Paula Steiner & promotes Maurice Smith. Who is actually running HCSC?
And Paula Steiner returned HCSC to the black.....some may not celebrate that!
Pat Hemingway-Hall the retired CEO of HCSC, joined the board of Halliburton in May 2019. Deposed HCSC CEO Paula Steiner, was shown the door in July 2019. Acting HCSC CEO David Lesar is the former CEO of Halliburton. HCSC chairman of the board Milton Carrol, also sits on the board of Halliburton. I'm sure this is all coincidental - no corporate fookery going on here.
Don’t disagree that HCSC will be the one “acquiring”. They need to grow fast. I will say this, after Anthem, they are the most disliked Blue plan in the Association. So, if they are looking within the Blue system & it’s a big mutual/not-for-profit Blue, there will be a BIG fight over who leads the company.
HCSC is not being purchased. The company is not merging with Anthem. Based on information relayed from people at the top of the business it may be buying other plans. Some leadership is gone now because the company needed a different approach in places where activities have been ingrained for a long time. to make progress you have to move out people who were operating things before and who didn’t want to change Fast enough.
Since we are spit balling, I believe HCSC will be acquired by Walgreens or form a BCBS for all. In the area that I work we will be working very closely with the BCBSA.
@4vby+13lEuBPw - are you saying their offspring work for HCSC right now? I heard something years ago about something like that happening but never had a chance to confirm that rumor/truth. Interesting.
In every merger one company has "hand" or control of the process. It isn't always bad for all workers but it will be bad for a lot. Old systems will go, useful talent will stay but it is a complete c-ap shoot what will happen. You can stick around and hope it will end well but it will happen. Keep doing what you are doing and be prepared.
The board of directors is rotten... their offspring are still working in easy jobs as VPs and not subject to tbe layoffs
Senior ppl in the Illinois plan are positioning themselves to try and benefit from the pending acquisition or merger. Look at the shifting roles in key places and the reporting structure. Ppl who have moved from the plan into hcsc. They're taking care of certain ppl only but as for everyone else? They don't care.
“Heeding orders”?! What is this, Star Wars? I’m so embarrassed for you, yikes.
It's an Acquisition. IL folks better learn and become use to taking heeding orders instead of giving. Haha!!!
Don't forget
- Cut budgets
- Let go contract labor
- Additional layoffs for those that don't fit in merger plan
- And repeat reorg
- go to step 1
I don’t disagree with merger or acquisition, but maybe not Anthem as they are in the middle of acquiring Beacon Health. Seems like that would be a lot of acquisition on
Anthem’s part.
When we bought and merged with NM, OK and MT we didn’t shed leadership or any positions. Seems to be a sign of getting purchased as opposed to being the purchaser here.