Health and wellness firm Healthways has fired Matthew Michela, its chief operating officer, less than a year after he earned promotion to the post. Michela plans to file a lawsuit in response.
Healthways disclosed the termination in a Securities and Exchange Commission filing Thursday. A public relations firm representing Healthways said the company would not comment beyond the filing.
Michela intends to file suit, claiming Healthways “breached its contract with him,” according to the Nashville Business Journal.
Michela joined Healthways in 2000 but then left in 2004 to start his own companies. He returned to the Franklin, Tenn.-based firm in 2013 and was promoted to COO this past September. Michela made $1.57 million in 2014.
His departure marks another setback for Healthways, which has gone through a tumultuous year of financial losses and leadership changes. Ben Leedle Jr. was pushed out of his CEO post in May after hedge fund North Tide Capital vocally showed frustration with his leadership. Healthways Board Chairman Donato Tramuto will take the corner office in November.
Healthways, which provides wellness and population health-management programs to insurers, provider systems and self-insured employers, turned a small profit in the second quarter. But the company still lost $2.5 million in the first half of the year. Healthways previously considering selling but decided against it, saying that independence “provides the best opportunity to enhance value for our stockholders.”
