What You Should Know:
– Veradigm Inc. announced significant leadership changes and an ongoing investigation into the company’s financial reporting. The Audit Committee is conducting an independent investigation relating to the company’s financial reporting, internal controls, and disclosure controls. The potential impact on previously reported financial statements is under review.
– The Board of Directors has initiated a search process for a permanent CEO and CFO. The company previously disclosed a potential $20M reduction in revenue due to revenue recognition practices.
Leadership Changes
– Greg Garrison appointed Executive Chairman.
– Dr. Shih-Yin Ho appointed interim Chief Executive Officer.
– Lee Westerfield appointed interim Chief Financial Officer.
– Richard J. Poulton resigned as CEO and stepped down from the Board.
– Leah S. Jones resigned as CFO and agreed to serve as a consultant.
– Carol Zierhoffer appointed Lead Independent Director.
Ongoing Investigation
The Audit Committee is conducting an independent investigation relating to the company’s financial reporting, internal controls, and disclosure controls. The potential impact on previously reported financial statements is under review.
