This sums it up from CNBC’s Jim Cramer -
“Ok, ever since the late Michael Neidorff passed away, I have not been as involved or liked Centene. I think he was the driving force behind Centene, he’s now gone, he was a great man. “
Thank you current executives for destroying everything good about Centene. Ms London you are no Michael Neidorff. Just look at the stock price … We will all lose our jobs soon.
Touché- a premonition? Centene is dead 💀
Which lines of business are they cutting? Medicaid? Medicare?
Sarah has never done anything for that company other than getting a hefty paycheck of $15mill every year she is there, she is been running around investor saying how great she was and backstabbing people that helped her and had tried to fix the place, she is been there for 5 years, they put a rocket in her a-s all the way up to CEO, not having the tenure neither the experience or knowledge in healthcare, now she is floating in space running out of oxygen, what happened with all those transformation ideas she had, she is just not qualified for that gig, leading by consensus and hearsay, , there is no leader in the company, it is just money grab
This is pure bullsh-t. Mike grew the company through acquisitions. Most of the health plans which Centene started tend to be small and not the market leader in their state, with maybe one exception. Remember, Sarah was handpicked to lead the company by Mike. That being said, the executive team is clueless about what needs to be done to raise standards. The company needs substantial investments in technology just to get on par with competing companies. They're putting to much focus on EIG but that's what the largest shareholder Blackrock demands. Enrollment will shrink by about 10% next year, so expect a similar percentage of staff reductions.
I hope this is not true. Is the CeO of Centene using tickets bought with Medicaid funds to entertain her kids and their friends at their private school? If so she should resign … and maybe write a poem about it since she is a poet per the Business Journal article
Looks like the Chief Communication Officer has joined the party with responses … Trying to turn the conversation. Maybe she can comment on the $20k parties at Tony’s with a requested DJ or why compliance reports to legal .. serious questions in a value based environment .. or why business tickets are used for executive kid birthday parties ..
Neidorf built that company, weather some people like it or not, he probably made mistakes like everyone and after many years maybe a change was needed, It just doesn't hash out why the handed it the company to Sarah who is so incompetent for that role, doesn't understand the business and don't know what is doing, there was not out there a person with 25 to 30 years of experience in healthcare,with history of success but they chose Sarah, a data geek from Hollywood.
so many crybabies on here purporting to know the inner workings of the C-suite. if you don’t like it, go somewhere else.
I’d be more concerned about the list of projects and various organizational “pivots” taking place. We’re all going to feel it either by losing our own job or by taking on work from those laid off. If niedorf was still in charge those jobs would already be gone.
MFN was shown the door by the board of of directors. Decisions he and his team made in 2020 caused massive losses that didn’t show until 2021-2022. We are paying dearly for it now. Things are going to get worse before they get better.
Elizabeth Holmes … now that is a very spot on comparison.
Even the new COO, who is veteran in healthcare and truly knew what was doing she pushed him out just recently after 6 months into the job because she couldn't handle her insecurities of someone way way way more qualified than her telling people what to do to fix problems, now they are reshuffling people all over the place, no one knows who is in charge, who is making decisions, the little traction won is now lost and going backwards amidst huge trouble in medicare ,some sleezebags are being given jobs they don't understand or have no business doing, it is mess and it seems will get nothing but worse, unfortunately people will just play the game to get the paycheck and keep their mouth shut while the place gets burned to the ground by this arrogant very much unqualified CEO.
Sarah was selected " one of 100 the most influential women in America" WOW,🤣, what has she done that other than being handed the CEO job and jamming systems at Optum? Unbelievable this world of narratives we live.
I wish you guys would stop getting my hopes up about getting unemployment…..
I think it's also worth noting how many top level executives and board members have left/will be leaving since Sarah took over, Shannon, Marcela, Brent, Leslie etc. I don't think its a coincidence.
Her only skill is to say something that may sound compelling with a bunch of buzzwords , but she clearly 100% doesn't understand the intricacies of the operation, the work involve to pull it off and the details behind the results. She is just in la la la land thinking about culture, which never have been an issue at centene, guess what, being highly superior culturally is just not going to work your way out of business problems
Yeah I'm sure she's very smart but it was Brent's job. She just didn't have the right experience. She ran Optum's investment portfolio I think? And was at CNC for like 1.5 years in the middle of covid before getting the top job at F50? Not how it should go. That said, no place for the Doomer nonsense, worse come to worse United will gobble us up and you take a payout.
Sarah a poet😆, filmmaker wannabe, self denominated data geek that has no experience, background or history that support getting the CEO job, the board handed to her the company that Neidorf and his team built almost from nothing to a fortune 25, some of the board members : "I am so inspired for Sarah passion about healthcare" , just crazy they gambled the future of the organization in this 2.0 version of Elizabeth Holmes from Theranos
Centene is going backwards, for a good reason, the CEO su-ks, using a hoodie in front of investors ,wasting resources on non sense exec ,chief customer experience, no one knows with certain what that person do other than being a friend of Sarah, Chief communication officer, in charge of saying how bright is Sarah, Chief people officer, a glorified name for head of HR that spies on behalf of Sarah, there is a lot of instability because she can't make good decisions, it is pitfall after pitfall and some the leaders are leaving and having enough with someone with that level of incompetence telling them what to do, well she can't do better because is not qualified and now that people are realizing she doesn't care either, she is a wealthy woman wanting to milk that cow for as long as she can before the ship sinks.
Normally I would prefer the Inverse Cramer strategy. But this time might be different….
The reality is that Sarah is just way way under qualified for that role of CEO. But it is what it is..
From someone who worked in investment finance for years - Cramer is a joke. He made his money shorting stocks as a hedge fund guy.
The problems we have today were created by Michael’s vision and direction. I’m
not suggesting Sarah is perfect but she was handed a lot of big problems.
Well said!