- Significant signs for push-out forces
- After less than a year and a half on the job
- Laud, praise and thanks for Wagner
(management-change.com) — Fort Lauderdale, Florida, November 07, 2016 — Karl Wagner, top manager of Mednax, leaves. As announced by Mednax, Inc. in a news release and in a regulatory filing published on Monday, November 07, 2016, Karl B. Wagner leaves the post as President of the Eastern Division at the medical group in a surprising move after a year and a half on the job.
Wagner will continue to serve as an executive officer of the Company through December 31, 2016.
Thereafter, the Company anticipates that Wagner will remain in a full-time role with the Company through early 2017 and continue to serve the Company through the first half of 2017 in a consulting role.
The position of President of the Eastern Division is currently not filled. Karl B. Wagner’s responsibilities are redistributed.
“To pursue personal opportunities”
Wagner’s departure is explained as follows. Mednax said: “On November 1, 2016, Karl Wagner, President, Eastern Division, of Mednax, Inc. … informed the Company of his intent to resign from the Company in order to pursue personal opportunities.”
The phrase “to pursue personal opportunities” is often used in corporate announcements and opens the door to speculation.
Precise information about the future plans of Wagner was not immediately available.
Share price decline
The change follows a decline in the share price of Mednax, Inc. since September 2015.
Chaired by Cesar Alvarez
Mednax, Inc. is chaired by Cesar L. Alvarez.
Cesar L. Alvarez has been a Director since March 1997 and was elected as Chairman of the Board of Directors in May 2004.
Roger J. Medel serves as CEO of Mednax. Medel, M.D., has been a Director of the Company since he co-founded it in 1979.
On the job as President of the Eastern Division since 2015
Wagner has been President of Eastern Division at Mednax, Inc. since June 2015.
Wagner joined the Company in 1997.
Prior to this, Wagner had served as President of the Company’s American Anesthesiology Division since 2010.
He also served as Chief Financial Officer from 1998 until 2009 and Treasurer from 1998 until 2008.
Prior thereto, he served as the Company’s Controller.
Prior to joining the Company, Wagner was Chief Financial Officer for the East Region of Columbia/HCA’s Ambulatory Surgery Group from 1995 until 1997.
From 1993 through 1995, Wagner was Assistant Controller of Medical Care International, Inc., a subsidiary of Medical Care America, Inc.
Significant signs for push-out forces
It is not completely certain what forces eventually triggered Karl B. Wagner’s move.
The Push-out Score™ determined by management-change.com suggests significant signs for push-out forces that may have contributed to the management change.
Read the full story in the management-change.com report 42.2016 ($).