Cano Health CEO Marlow Hernandez stepped down in June 2023 following a campaign from former board members to remove the chief executive, the value-based primary care provider announced. Hernandez will stay on the company’s board of directors. In March 2003, three Cano board members — Barry Sternlicht, Elliot Cooperstone and Lewis Gold — resigned in protest, saying the company had burned through the funds it had raised when it went public, leaving it with a “crippling debt burden.” The investors, who hold about 35% of Cano’s shares, later alleged other specific concerns, like conflicts of interest, related-party transactions and insider loans, repeating their calls to replace Hernandez.
| Types | Person, Business |