Looks like it will be a $10 billion 100x zero distance zero quality disaster.
10 replies (most recent on top)
Announcement coming - April 5
Look, Witty will save the company. But another data breach and heads will roll. The current CISO will live a few months but a new one will come in. There is only one leader in EIS and that is the Optum CISO, the rest should be put out to pasture!
Things were much better when Wichmann was CEO and Santelli was CIO
anyone else get the weymouth meeting invite ?
The next big question is when is Witty gone?
Stock's been dead in the water for two years, the buying spree may have juiced the numbers but wall street didn't care, and now the acquisitions are blowing up like landmines (security breaches, layoff protests, anti-trust). There's no positive PR coming out anywhere for UHG right now, and when one shark smells blood they all starting coming for you.
If his "brand" suffers enough damage, he'll have no goodwill or sway left to "re-invent" American healthcare, and he'll be useless to the board.
They should hire the hackers to replace him. They sure tore through CHC at 100x.
Late May or June, once the dust has settled, though that may be complicated by McMahon's departure.
Other complicating factor is finding someone who will be skilled and can engage the overseas employees, since that's where Witty intends to move many more of the U.S. located roles. That was one of the unspoken reasons why 100x was hired.
S. Martin will be gone first, so the next guy doesn't have to do the dirty work.
I'd guess they'd stagger Martin and 100x's departure to avoid the optics of blame.
over/under is April 5
When will the board fire Witty?
Rumor is he's a dead man walking. He will carry on for a few months then be allowed to leave for family reasons or some cr-p.
The big domino that needs to fall is Chief DEI officer Patricia Lewis. She is close with a few of big private equity firms and personally brought in "Mr Sars do not redeem 100x".
Spoiler: No private equity firm is going to trade cash for UHN stock now because a Congressional hearing is around the corner. SELL YOUR STOCK AND OPT OUT OF THE EMPLOYEE STOCK OPITION ASAP. About to be sub 400
Infosys never trusted the guy. Talk is cheap.