RE:The Market hasnt Missed a Beat EStreet, I appreciate where you're coming from on this. However, what this signals to me more than anything is a piece of the change that we have all been eager to see. Personally, the timing doesn't seem that strange to me. I'm going to guess Young will be on the CC after Q4 gets released. If the numbers come in as promised they can present to the world a graceful hand-off from Kenny, who lead them this far, to the guy that's going to take them to the next level. Another month of Young looking at the books before he's introduced can't hurt.
Secondly, regarding "they plan to ensure a culture of focus and discipline when managing their cost structure" it's important to note that that did not come from Fleming, but rather Young himself. When I read his quote it instilled in me a sense that this guy has a clear objective and that he understands precisely what he needs to do. Add in his background/experience (specifically within healthcare) and this looks like a guy who could actually make a difference. In my experience, in a fully functioning business, everyone is ultimately accountable to the CFO (provided he/she is the type of CFO that commands respect). Young sounds like he does. As for expenses, as another poster already mentioned, once this guy gets a look under the hood, who knows which/how many heads will roll.
Young's words below:
"Nobilis has a history of strong revenue performance. As we build on that history and continue our aggressive acquisition strategy we need to strengthen our integration process and ensure a culture of focus and discipline when managing our cost structure, beginning with the Hospital Division. With 24 locations in seven states, including 4 hospitals, 10 ASCs and 10 clinics, efficient operations will become critical to the company's continued success," stated Mr. Young.