A group of three former directors, including billionaire investor Barry Sternlicht, had repeatedly called for Dr. Hernandez to relinquish his role because of Cano Health’s “staggering underperformance.”
The same group also called for shareholders to withhold their vote for current directors of the value-based care provider at the annual meeting June 15. Approximately 82 percent did, a move touted by the group as they continue to seek the removal of directors they deem to be too closely linked with Dr. Hernandez, who will remain on the board.
“Regardless of the board’s apparent disdain for stockholders’ feedback, we will continue to pursue change through all available means until Dr. Marlow Hernandez, Sol Trujillo and other misaligned directors are no longer affiliated with the company,” they said in a statement.
Cano Health has named its current chief strategy officer, Mark Kent, as its interim CEO.
“On behalf of the entire board, I would like to thank Dr. Hernandez for all he has done to build this strong platform, which has made healthcare more connected, aligned, and proactive,” Chair Solomon Trujillo said. “We look forward to continuing to benefit from his clinical expertise and unique understanding of our patient population as a member of the board.”
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