So getting the notice of this from The Layoff in my email and then reading it just angered me as a retired employee. Things seem to have become much more board self serving in the ten years I left.
So I spent some time on the internet to see if any transparency is indeed available on HCSC financials or Board members. There really isn't. But I was able to find a few things through news articles.
HCSC chairman Milton is on the Board for the Haliburton - a company that greatly profited from the warfare in the Middle East War and from its exploitation of oil and gas. The antithesis of health care I could posit.
Lesar was the Haliburton CEO and then the HCSC CEO after joining its board in 2019
HCSC ex-CEO Pat HH is also on the Board of Haliburton.
Milton was the executive chairman of the board through Sept 2021 of CenterPoint Energy, and Lesar is the current CEO of that company since May 2020 - the very month that Maurice was made HCSC CEO and Lesar left HCSC.
So people who profited hundreds of millions personally from war and oil also doubled as leaders of our health care company. And neither DL or MC have any practical health care experience outside the HCSC board meetings they attend .
But there is a quote where MC justifies his $9 million (81% annual increase) board salary because of the "strategic direction" he provides but he then doesnt disclose how much time he actually spends on HCSC business.
Other board members appear to be Clyde Drexler (yes that Clyde Drexler) and Dianne Gasbarra, a practicing internist. Who knows how many other (interlocking) board seats there are. After hours of digging I gave up in disaapointment.
A quote from one of the articles includes
"Sources familiar with HCSC’s board say Carroll has a history of filling open spots with directors who are loyal to him, noting that several members have ties to the energy industry."
It is likely HCSC hides its board membership because too many fair questions would become deafening. Who knows how many other non health care people with highly reciprocating relationships are on HCSC's board?
Thus it is easy to see why HCSC does not want sunshine on the small tight club that is the HCSC boardroom. For example, for just two of Miltons' gigs as a Chairman (note, not as an operational executive) he made $15.3M from CenterPoint and HCSC in 2020.
Some interesting notes