Envision CFO Claire Gulmi leaves at short notice

  • Push-out Score suggests push-out forces
  • After less than one year on the job
  • Praise, thanks and good wishes for Gulmi
  • Kevin Eastridge taking over

(exechange) — Nashville, Tennessee & Greenwood Village, Colorado, September 19, 2017 — Claire Gulmi, finance chief of Envision, leaves. It is a change at short notice. As announced by Envision Healthcare Corporation in a news release published on Monday, September 18, 2017 and in a regulatory filing published on Tuesday, September 19, 2017, Claire M. Gulmi leaves the post as Chief Financial Officer at the hospitals company after less than one year on the job, effective October 02, 2017.

No company wants a CFO to flame out in the first year.

Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, only 5 percent of the CFOs who departed over the past twelve months left within their first year. Around 21 percent left within two years, and 36 percent left within three years. Overall, the average tenure of those who left was 5.6 years, according to data compiled by exechange.

Gulmi’s move comes ten months after Christopher A. Holden took over as CEO of Envision Healthcare Corporation.

Gulmi’s duties are taken over by Kevin Eastridge, currently Chief Accounting Officer at Envision Healthcare Corporation.

Gulmi’s move is part of a management shake-up also involving the positions of Chief Operating Officer and President of Physician Services.

No reason given

In the announcement, Envision did not explicitly explain the reason for Gulmi’s imminent move, leaving room for speculation.

Precise information about the future plans of Gulmi was not immediately available.

“Retire”

Envision said: “On September 13, 2017, Claire M. Gulmi, the Executive Vice President and Chief Financial Officer of Envision Healthcare Corporation …, notified the Company of her intention to retire from her position, effective October 2, 2017.”

Share price decline

The change follows a sharp decline in the share price of Envision Healthcare Corporation since August 2015.

Chaired by William A. Sanger

Envision Healthcare Corporation is chaired by William A. Sanger.

CEO: Christopher A. Holden

Christopher A. Holden serves as CEO of Envision Healthcare Corporation. Christopher A. Holden has been the Chief Executive Officer and President of Envision Healthcare Corporation since December 2016.

On the job as CFO since 2016

Claire M. Gulmi has been the Chief Financial Officer of Envision Healthcare Corporation since October 11, 2016.

Claire M. Gulmi was named to the inaugural board of Envision Healthcare on Oct. 11, 2016.

Previously, Gulmi served in various roles at AMSURG including Director, Executive Vice President and Chief Financial Officer between 1994 – 2016.

Gulmi will be employed as an advisor to the Company for a period of one year following the date of her retirement to assist with the transition of her responsibilities to the new Executive Vice President and Chief Financial Officer.

Push-out Score suggests push-out forces

It is not completely certain what forces eventually triggered Claire Gulmi’s imminent move.

The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the management change.

Read the full story in the exechange report 39.2017 ($).