A news summary, focused on 10 big employers; updated 7:42 p.m.
KINDRED: The Louisville-based hospital and nursing giant said it would build the new hospital in a joint venture with Palomar Health in Escondido, a city in north San Diego County. Palomar is the most comprehensive health care delivery system in the northern part of the county.
Kindred said it will own a slight majority of the joint venture and will manage the hospital’s day-to-day operations. It will be built on the campus of Palomar Medical Center in Escondido. Subject to several regulatory and other approvals, Kindred said it expects the hospital to open by the third quarter of 2019 (press release). Kindred shares closed at $11.18, up 1%. More about Kindred.
YUM said UBS restaurant industry analyst Keith Siegner had been named vice president for investor relations and corporate strategy, effective July 11. Siegner, 41, will report to David Gibbs, CFO since April.
He arrives at Yum at a critical time. The fast-food giant is preparing to spin off its China business by the end of October, and Siegner will have a key role in leading strategy for that, in addition to managing relationships with Wall Street analysts.
Yum didn’t say who he replaced. However, Steve Schmitt’s LinkedIn profile says he’s held the job since February 2013.
He was at UBS three years, as executive director over securities research for restaurant companies including Yum. Before that, he worked at Credit Suisse 12 years covering environmental services and specialty chemicals before assuming lead coverage of the restaurant sector, in 2007 (press release). Yum shares closed at $82.49, unchanged. More about Yum.