Chicago-based electronic health record vendor Allscripts hired Richard Poulton as its chief financial officer, according to Healthcare Finance News.
Allscripts has been without a CFO since April, which is also when Board Chairman Phil Pead was fired and three board members resigned in protest. The former CFO resigned to take a position out of healthcare, and the departure triggered a stock downgrade from "buy" to "neutral."
Allscripts is also said to be looking for a buyer, and it does not appear that Mr. Poulton's hiring will change that. Mr. Poulton is reported to receive an annual salary of $450,000. He will receive a one-time cash payment of $750,000 in June 2013 and will receive stocks with a grant-date value of $1 million and an incentive equity grant of restricted stock with a grant-date value of $1 million.
Mr. Poulton previously spent 10 years at UAL Corporation and was president and CFO of its client focused Loyalty Services subsidiary. He succeeds interim CFO David Morgan.
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Allscripts has been without a CFO since April, which is also when Board Chairman Phil Pead was fired and three board members resigned in protest. The former CFO resigned to take a position out of healthcare, and the departure triggered a stock downgrade from "buy" to "neutral."Allscripts is also said to be looking for a buyer, and it does not appear that Mr. Poulton's hiring will change that. Mr. Poulton is reported to receive an annual salary of $450,000. He will receive a one-time cash payment of $750,000 in June 2013 and will receive stocks with a grant-date value of $1 million and an incentive equity grant of restricted stock with a grant-date value of $1 million.
Mr. Poulton previously spent 10 years at UAL Corporation and was president and CFO of its client focused Loyalty Services subsidiary. He succeeds interim CFO David Morgan.
More Articles on Coding, Billing and Collections:
Litton & Giddings Radiological Associates Announces HIPAA Breach of 13K Patient Records
Outsourced Billing Can Have Numerous Benefits for Physician Practices
Medicare RACs Recoup Record-High $657M in Third Quarter