Chemed Corp. Appoints Mike Witzeman as New CFO Following David Williams’ Retirement
December 26, 2023
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Chemed Corporation ($NYSE:CHE), a publicly traded company listed on the New York Stock Exchange, announced today that Mike Witzeman will take over the role of Chief Financial Officer from the retiring David Williams. Chemed Corp. is a leading provider of home healthcare services, hospice and palliative care, and plumbing services throughout the United States. Chemed Corp. Chairman and Chief Executive Officer Kevin McNamara said “I am delighted to welcome Mike Witzeman to our executive management team. His deep knowledge of financial markets and his broad experience in capital markets will be a valuable asset to Chemed’s continued growth and success.” Witzeman has over two decades of experience in the financial industry having most recently served as Chief Financial Officer of Eagle Pharmaceuticals. Prior to that, he held senior financial roles at some of the world’s leading investment banks including Goldman Sachs, Morgan Stanley and Credit Suisse. He holds a bachelor’s degree from Princeton University and an MBA from Harvard Business School.
During that time, he helped guide the company through its multiple acquisitions and expansions. “We are grateful for David’s countless contributions to Chemed over the years,” said McNamara. “We wish him much luck in his retirement.” Mike Witzeman will be responsible for managing all aspects of Chemed’s financial operation and strategy. He will oversee the company’s capital markets activities, treasury management and investor relations functions. He will also be a key member of the executive management team and will directly report to the CEO.
Share Price
On Thursday, CHEMED CORPORATION, a leading provider of hospice and palliative care services, announced the appointment of Mike Witzeman as its new Chief Financial Officer (CFO). Witzeman replaces David Williams, who has retired after a long and successful career with the company. CHEMED CORPORATION’s stock reacted positively to the news, opening at $583.5 and closing at $586.9, up by 0.8% from prior closing price of 581.9. This indicates the market’s confidence in Witzeman’s leadership and experience in the financial industry.
Witzeman brings over two decades of financial expertise and management expertise to the role. With his background in corporate finance, capital markets and M&A, CHEMED CORPORATION is confident that he will be an important catalyst in driving the company’s growth and profitability. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Chemed Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 2.23k | 244.58 | 11.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Chemed Corporation. More…
| Operations | Investing | Financing |
| 321.94 | -68.46 | -88.11 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Chemed Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.56k | 542.84 | 67.92 |
Key Ratios Snapshot
Some of the financial key ratios for Chemed Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 2.5% | 0.2% | 14.5% |
| FCF Margin | ROE | ROA |
| 11.6% | 20.4% | 12.9% |
Analysis
GoodWhale has recently performed an analysis of CHEMED CORPORATION‘s wellbeing and determined that CHEMED CORPORATION is strong in dividend and profitability, and medium in asset and growth. Based on this data, we classify CHEMED CORPORATION as a ‘cow’ type of company, which we conclude has a track record of paying out consistent and sustainable dividends. These types of companies are likely to generate interest from value investors who are seeking long-term returns through dividend payments, as well as income investors who are seeking a steady stream of income. In addition to these favorable investment qualities, CHEMED CORPORATION also earned a high health score of 10/10, which reflects its ability to pay off debt and fund future operations. This is a positive sign for CHEMED CORPORATION, and should provide further assurance to potential investors that the company is well-positioned to weather future economic conditions. More…
Peers
The competition between Chemed Corp and its competitors is fierce. Chemed Corp is the largest provider of hospice care in the United States, and its competitors are Brookdale Senior Living Inc, Encompass Health Corp, and Pennant Group Inc. All of these companies are vying for a share of the $15 billion hospice market. Chemed Corp has a lot of experience in the hospice industry, and its competitors are trying to catch up.
– Brookdale Senior Living Inc ($NYSE:BKD)
Brookdale Senior Living Inc is a company that owns and operates senior living communities. As of 2022, the company had a market cap of 837.09M and a ROE of 10.52%. The company offers a variety of services for seniors, including independent living, assisted living, memory care, and skilled nursing.
– Encompass Health Corp ($NYSE:EHC)
Encompass Health Corporation is a provider of rehabilitation and wellness services. The company operates through two segments: Inpatient Rehabilitation, and Home Health and Hospice. The Inpatient Rehabilitation segment provides rehabilitation services on an inpatient basis to patients recovering from illnesses and injuries. The Home Health and Hospice segment provides home health services to patients recovering from illnesses and injuries. Encompass Health Corporation was founded in 1985 and is headquartered in Birmingham, Alabama.
– Pennant Group Inc ($NASDAQ:PNTG)
The Pennant Group, Inc. is a provider of healthcare services for senior living communities and post-acute care centers in the United States. The company operates through three segments: Senior Living, Home Health, and Hospice. The Senior Living segment offers a range of services, including skilled nursing, assisted living, independent living, and memory care services. The Home Health segment provides home health services, such as skilled nursing, physical therapy, occupational therapy, and speech therapy. The Hospice segment offers hospice services, including nursing care, social work services, chaplain services, and bereavement counseling.
Summary
Chemed Corporation recently announced the appointment of Mike Witzeman as its new Chief Financial Officer, succeeding David Williams who is set to retire. Investing in Chemed Corporation may be a viable option for investors who are looking for consistent and reliable returns. Chemed is a multi-service company that operates two subsidiaries, Roto-Rooter and Vitas, which specialize in plumbing, drain cleaning, and hospice care services. Chemed’s strong financial performance has been driven by organic growth and strategic acquisitions. Chemed’s strong financial statements, sound balance sheet and healthy cash flow position make it an attractive investment opportunity.
In addition, Chemed has a strong dividend policy which has enabled investors to enjoy income returns. Overall, investing in Chemed Corporation may be rewarding for investors who are looking for steady and reliable returns.
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