{"id":760807,"date":"2023-05-30T16:06:31","date_gmt":"2023-05-30T20:06:31","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/concerned-shareholders-of-cano-health-issue-presentation-to-underscore-the-urgent-need-for-changes-in-leadership-and-strategy-following-massive-value-destruction-at-the-company\/"},"modified":"2023-05-30T16:06:31","modified_gmt":"2023-05-30T20:06:31","slug":"concerned-shareholders-of-cano-health-issue-presentation-to-underscore-the-urgent-need-for-changes-in-leadership-and-strategy-following-massive-value-destruction-at-the-company","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/concerned-shareholders-of-cano-health-issue-presentation-to-underscore-the-urgent-need-for-changes-in-leadership-and-strategy-following-massive-value-destruction-at-the-company\/","title":{"rendered":"Concerned Shareholders of Cano Health Issue Presentation to Underscore the Urgent Need for Changes in Leadership and Strategy Following Massive Value Destruction at the Company"},"content":{"rendered":"

<\/p>\n

Concerned Shareholders of Cano Health Issue Presentation to Underscore the Urgent Need for Changes in Leadership and Strategy Following Massive Value Destruction at the Company<\/b><\/p>\n

Details the Ways in Which Dr. Alan Muney, Chair of the Compensation Committee, and Kim Rivera, Chair of the Nominating and Corporate Governance Committee, Have Failed Stockholders<\/i><\/b><\/p>\n

Urges Stockholders to Help Initiate a Turnaround by WITHHOLDING<\/span> Support for Dr. Muney and Ms. Rivera \u2013 the Only Directors Standing for Re-Election at the Annual Meeting<\/i><\/b><\/p>\n

Reiterates Parties are Awaiting a Resolution of Litigation to Compel the Company to Reopen Window for Nominating Director Candidates and Making Proposals<\/i><\/b><\/p>\n

NEW YORK & MIAMI–(BUSINESS WIRE<\/a>)–
\nElliot Cooperstone, Lewis Gold and Barry Sternlicht (collectively with certain of their affiliates, the \u201cGroup,\u201d \u201cus\u201d or \u201cwe\u201d), who recently resigned as members of the Board of Directors (the \u201cBoard\u201d) of Cano Health, Inc. (\u201cCano\u201d or the \u201cCompany\u201d) (NYSE: CANO), today announced that they have issued a presentation<\/a> that outlines the urgent case for changes in leadership and strategy at the Company. The Group, which holds an approximately 35% equity stake in Cano, is soliciting WITHHOLD<\/span><\/b> votes against the two members of the Board up for re-election at the 2023 Annual Meeting of Stockholders (the \u201cAnnual Meeting\u201d) on June 15, 2023: Dr. Alan Muney, Chair of Cano\u2019s Compensation Committee, and Kim Rivera, Chair of Cano\u2019s Nominating and Corporate Governance Committee. Dr. Muney and Ms. Rivera are also members of Cano\u2019s Audit Committee. The Group believes stockholders can take the first step toward turning around Cano by voting WITHHOLD<\/span><\/b> on Proposal 1 (Election of Dr. Muney and Ms. Rivera) on any proxy card received (GREEN or WHITE).<\/p>\n

DOWNLOAD AND READ THE GROUP\u2019S PRESENTATION BY CLICKING HERE.<\/a><\/b><\/span><\/p>\n

\nAs a reminder, the Group has also submitted a notice to Cano to nominate two highly qualified, independent candidates \u2013 Joseph Berardo, Jr. and Guy P. Sansone \u2013 for election to the Board at the Annual Meeting. Messrs. Berardo and Sansone possess significant healthcare services experience as well as backgrounds in corporate governance, capital allocation, transactions and strategic planning. The Group also submitted a business proposal to give stockholders the opportunity to vote on the removal of Dr. Marlow Hernandez, the Company\u2019s Chief Executive Officer, from the Board for cause at the Annual Meeting.<\/p>\n

\nStockholders\u2019 ability to vote on the election of the Group\u2019s director candidates and its other proposal at the Annual Meeting is dependent on the success of its previously disclosed action in the Delaware Court of Chancery. The action seeks to compel Cano to reopen the window for nominating director candidates and making proposals under the Company\u2019s Bylaws at the upcoming Annual Meeting. A ruling is expected in early June.<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230530005620\/en\/<\/a><\/span><\/p>\n

\nInvestors:<\/p>\n

\nHKL & Co., LLC
\n
Peter Harkins, Jr. \/ Jordan Kovler
\n
Toll-Free: (800) 326-5997
\n
CANO@hklco.com<\/a><\/p>\n

\nMedia:<\/p>\n

\nLongacre Square Partners
\n
Charlotte Kiaie \/ Greg Marose, 646-386-0091
\n
ckiaie@longacresquare.com<\/a> \/ gmarose@longacresquare.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America Florida New York<\/p>\n

INDUSTRY KEYWORDS:<\/b> Professional Services Finance<\/p>\n

MEDIA:<\/b><\/p>\n\n","protected":false},"excerpt":{"rendered":"

Concerned Shareholders of Cano Health Issue Presentation to Underscore the Urgent Need for Changes in Leadership and Strategy Following Massive Value Destruction at the Company Details the Ways in Which Dr. Alan Muney, Chair of the Compensation Committee, and Kim Rivera, Chair of the Nominating and Corporate Governance Committee, Have Failed Stockholders Urges Stockholders to Help Initiate a Turnaround by WITHHOLDING Support for Dr. Muney and Ms. Rivera \u2013 the Only Directors Standing for Re-Election at the Annual Meeting Reiterates Parties are Awaiting a Resolution of Litigation to Compel the Company to Reopen Window for Nominating Director Candidates and Making Proposals NEW YORK & MIAMI–(BUSINESS WIRE)– Elliot Cooperstone, Lewis Gold and Barry Sternlicht (collectively with certain of their affiliates, the … <\/p>\n

Continue reading “Concerned Shareholders of Cano Health Issue Presentation to Underscore the Urgent Need for Changes in Leadership and Strategy Following Massive Value Destruction at the Company”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-760807","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nConcerned Shareholders of Cano Health Issue Presentation to Underscore the Urgent Need for Changes in Leadership and Strategy Following Massive Value Destruction at the Company - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/concerned-shareholders-of-cano-health-issue-presentation-to-underscore-the-urgent-need-for-changes-in-leadership-and-strategy-following-massive-value-destruction-at-the-company\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Concerned Shareholders of Cano Health Issue Presentation to Underscore the Urgent Need for Changes in Leadership and Strategy Following Massive Value Destruction at the Company - 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