Summary by Futu AI
DaVita announced the appointment of David P. Maughan as Chief Operating Officer of DaVita Kidney Care, effective September 15, 2024. Maughan, 47, will replace Michael D. Staffieri, who will transition to the role of Chief Operating Officer Emeritus. Maughan has been with DaVita since 2006, most recently serving as Senior Vice President, Kidney Care.In connection with this transition, DaVita entered into an employment agreement with Maughan. The agreement includes an annual base salary of $725,000, participation in the company's annual incentive plan with a 2024 target bonus opportunity of 100% of base salary, and participation in employee benefit plans and long-term incentive plans. The agreement also outlines severance benefits in case of termination without cause or resignation for good cause.Maughan's appointment comes after serving in various roles of increasing responsibility at DaVita, including oversight of national home and hospital services businesses, as well as key functions such as human resources, IT, marketing, and state government affairs. He holds an MBA from Harvard Business School and previously worked at Goldman Sachs in Finance.