Chemed Corporation Announces the Appointment of Michael D. Witzeman as CFO

Rhea-AI Summary

Chemed Corporation (NYSE: CHE) appoints Michael D. Witzeman as Chief Financial Officer, effective January 1, 2024, following the retirement of David P. Williams. Mr. Witzeman, currently Chemed’s Vice President and Controller, joined the company in 2005. Chemed Corporation operates two wholly owned subsidiaries: VITAS Healthcare and Roto-Rooter.

Insights

Financial Analyst

The appointment of Michael D. Witzeman as Chief Financial Officer for Chemed Corporation represents a strategic executive move that could have implications for the company's financial management and investor relations. Witzeman's background with Deloitte & Touche LLP and his tenure as Vice President and Controller at Chemed suggest familiarity with the company's financial operations, which is beneficial for a smooth transition.

For investors, the continuity in leadership through internal promotion may signal stability and a commitment to maintaining the company's financial strategies. However, it is also important to monitor how Witzeman's leadership style and strategic choices might differ from his predecessor's and how these changes could affect Chemed's financial performance and stock valuation.

Given that Chemed operates in the healthcare and service industries through its subsidiaries VITAS Healthcare and Roto-Rooter, the CFO's role in navigating industry-specific financial challenges, such as reimbursement rates and regulatory changes in healthcare, and competitive dynamics in service sectors, will be critical. Investors should look for Witzeman's potential initiatives to optimize costs, drive profitability, and potentially explore strategic growth opportunities.

It's also noteworthy that leadership changes can sometimes lead to shifts in corporate policy or strategic refocusing. While there's no immediate indication of such changes, stakeholders should stay informed about the company's direction under new financial leadership.

In summary, while the direct impact of a CFO appointment on stock market performance is often not immediate, it is a development that investors should consider as part of their long-term evaluation of Chemed Corporation.

CINCINNATI--(BUSINESS WIRE)-- Chemed Corporation (NYSE: CHE) – Today Chemed Corporation’s Board of Directors has appointed Michael D. Witzeman as Chief Financial Officer, effective January 1, 2024, following the retirement of David P. Williams from that role.

Mr. Witzeman is currently Chemed’s Vice President and Controller and serves as Chemed’s principal accounting officer. He joined Chemed in 2005 following employment as Senior Manager of Assurance at Deloitte & Touche LLP. He is a licensed CPA and a BBA in Accounting from the University of Cincinnati and an MBA from The Ohio State University.

Listed on the New York Stock Exchange and headquartered in Cincinnati, Ohio, Chemed Corporation (www.chemed.com) operates two wholly owned subsidiaries: VITAS Healthcare and Roto-Rooter. VITAS is the nation's largest provider of end-of-life hospice care and Roto-Rooter is the nation’s leading provider of plumbing and drain cleaning services.

Statements in this press release or in other Chemed communications may relate to future events or Chemed's future performance. Such statements are forward-looking statements and are based on present information Chemed has related to its existing business circumstances. Investors are cautioned that such forward-looking statements are subject to inherent risk and that actual results may differ materially from such forward-looking statements. Further, investors are cautioned that Chemed does not assume any obligation to update forward-looking statements based on unanticipated events or changed expectations.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231218192892/en/

Michael D. Witzeman

(513) 762-6714

Source: Chemed Corporation

FAQ

Who is the new Chief Financial Officer of Chemed Corporation?

Michael D. Witzeman has been appointed as the new Chief Financial Officer of Chemed Corporation, effective January 1, 2024.

What are the subsidiaries of Chemed Corporation?

Chemed Corporation operates two wholly owned subsidiaries: VITAS Healthcare, the nation's largest provider of end-of-life hospice care, and Roto-Rooter, the nation’s leading provider of plumbing and drain cleaning services.

What is the ticker symbol for Chemed Corporation?

The ticker symbol for Chemed Corporation is CHE.

Where is Chemed Corporation headquartered?

Chemed Corporation is headquartered in Cincinnati, Ohio.

When did Michael D. Witzeman join Chemed Corporation?

Michael D. Witzeman joined Chemed Corporation in 2005.

What is the background of Michael D. Witzeman?

Michael D. Witzeman is currently Chemed’s Vice President and Controller and serves as Chemed’s principal accounting officer. He joined Chemed in 2005 following employment as Senior Manager of Assurance at Deloitte & Touche LLP. He is a licensed CPA and holds a BBA in Accounting from the University of Cincinnati and an MBA from The Ohio State University.