Enhabit, Inc., a leading provider of home health care services, has announced the appointment of Collin McQuiddy as the company's new Senior Vice President and Chief Accounting Officer. The appointment took effect on Monday, August 5, 2024.
Mr. McQuiddy, 47, brings over two decades of experience in public accounting and the healthcare industry, including expertise in home health, hospice services, and managed care payor experience. Before joining Enhabit, McQuiddy held the position of Senior Director of Finance at UnitedHealthcare of Louisiana, a subsidiary of UnitedHealth Group (NYSE:UNH), from 2020 to 2024. His previous roles include Chief Accounting Officer at LHC Group (NASDAQ:LHCG), Inc., Senior Vice President and Chief Accounting Officer for Schumacher Clinical Partners, and Vice President of Finance at Louisiana Healthcare Connections, a subsidiary of Centene (NYSE:CNC) Corporation. McQuiddy's career began at PricewaterhouseCoopers LLP.
In his new role at Enhabit, McQuiddy will serve as the principal accounting officer, a key position for the company's financial management and reporting. The company's filing with the Securities and Exchange Commission (SEC) disclosed that McQuiddy has no direct or indirect material interest in any transaction requiring disclosure under SEC regulations. Additionally, there are no familial ties between McQuiddy and any of Enhabit's directors or executive officers.
In other recent news, Enhabit reported robust Q2 preliminary results, expecting an Adjusted EBITDA between $24.5 million and $25.0 million, and announced a significant $15 million reduction in bank debt. Concurrently, the company's CFO, Crissy Carlisle, has decided to step down, prompting a search for a new CFO. Amid these developments, AREX Capital Management, a major shareholder, proposed seven new director nominees for Enhabit's board, expressing dissatisfaction with the company's direction.
However, Enhabit defended its current board, emphasizing recent improvements and urging shareholders to back its nominees. As a result of the recent Annual Meeting of Stockholders, Mark W. Ohlendorf, an AREX nominee, was elected to the company's board of directors, a move backed by leading proxy advisory firms Institutional Shareholder Services Inc. and Glass, Lewis & Co. These are the latest developments in Enhabit's ongoing financial performance and governance issues.
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