Courtesy of Zero Hedge
After years of being dogged by allegations of domestic abuse and sexual harassment, Jonathan Bush has stepped down as president, CEO and director of Athenahealth, according to Bloomberg. As the company begins the executive-search process, it has appointed Jeff Immelt to step in to the executive chairman role, while CFO Marc Levine will assume additional operational responsibilities.
Bush, the nephew of former President George H W Bush, was the subject of a Bloomberg story published over the weekend that contained new details about alleged inappropriate behavior, including reports that he abused his ex-wife and created a "sexually hostile work environment.'
Bloomberg claimed to have seen a video where Bush dressed up as a race car driver and pretended to be the title character from the 2006 comedy "Talladega Nights: The Ballad of Ricky Robby."
Halfway through the skit, he said he wanted to "jump down on" one of his female employees and "do inappropriate things." He then briefly pauses. “Uh, but obviously that’s totally inappropriate and would never happen or be said on a microphone.” The exact context of the remarks isn’t clear.
The medical technology company said in a statement that it would consider a sale or merger. It's also fighting a $160 a share takeover offer from Paul Singer's Elliott Management. It is surely a pure coincidence the CEO quit less than a month after relentless hedge fund manager Paul Singer went hostile.
After they were briefly halted, shares of Athenahealth jumped 8.5%.