Cano Health, Inc., a leading value-based primary care provider and population health company, today announced that it has separated the roles of Chairman and Chief Executive Officer and appointed Solomon Trujillo, the Company’s lead independent director, as the non-executive chairman of the Company’s Board of Directors, effective immediately. The change will enable Dr. Marlow Hernandez to focus his attention on his role as Chief Executive Officer, in addition to his remaining a director.
“The promise of Cano Health to reshape healthcare with better outcomes at lower costs is more powerful and timely than ever. Our Board and management team are committed to long-term shareholder value creation by capitalizing on the strong foundation we have built and the tremendous opportunities in front of us,” Mr. Trujillo said. “To that end, we are intently focused on implementing decisive actions to successfully improve the Company’s free cash flow and deliver greater value to our stakeholders. The Board determined that separating the roles of Chairman and CEO at this pivotal time for Cano Health will enable our CEO, Dr. Marlow Hernandez, to focus his full attention on executing our operating plan, while enhancing the Company’s governance structure and Board oversight.”
Mr. Trujillo continued: “Our directors collectively have deep experience in healthcare, operations, and other critical and relevant disciplines; and they are committed to sound governance and management accountability. We are working closely with Dr. Hernandez and his team to execute our disciplined near-term action plan, and deliver enhanced performance in pursuit of better long-term outcomes for our shareholders.”
Mr. Trujillo is a global business executive who has served as chief executive officer of three large market-cap global companies, known as a transformative and innovative leader. Over the course of his decades-long career, he led Telstra, Orange, and US West as CEO. Mr. Trujillo has nearly 40 years of service on boards of directors across the globe, including some of the world’s most respected companies. He has served on the boards of PepsiCo, Bank of America, Target, EDS, Orange, Telstra, Gannett, WPP, US West, and Soufun (China). In addition to serving as Cano Health’s lead independent director since it became a public company in 2021, he is currently a member of the board of Western Union, a global financial services company.
Mr. Trujillo chairs the Trujillo Group, LLC, investing in private companies domestically and internationally. He served as a trade policy advisor to both the Clinton and George W. Bush administrations and remains active in public policy issues related to trade, productivity, innovation, and economic development. Mr. Trujillo has received numerous accolades for his corporate leadership and results, including a Top 100 Directors award from the National Association of Corporate Directors; the Ronald H. Brown Corporate Bridge Builder Award for creating opportunities for women and minorities, awarded by President Bill Clinton; the National Hero of the Year award from the United States Hispanic Leadership Institute; and inclusion on Bloomberg’s list of 100 Most Influential Latinos of 2022.
About Cano Health
Cano Health (NYSE: CANO) is a high-touch, technology-powered healthcare company delivering personalized, value-based primary care to approximately 310,000 members. With its headquarters in Miami, Florida, Cano Health is transforming healthcare by delivering primary care that measurably improves the health, wellness, and quality of life of its patients and the communities it serves. Founded in 2009, Cano Health has more than 4,000 employees, and operates primary care medical centers and supports affiliated providers in nine states and Puerto Rico. For more information, visit canohealth.com or investors.canohealth.com.
