Veradigm's Leadership Shakeup Continues as Interim CEO Set to Depart

In the latest development in Veradigm's ongoing leadership transitions, the health IT company announced that its interim CEO, Tom Langan, will be stepping down from his role on July 31, 2025. This move comes after just over a year in the chief executive position, marking another significant change in the company's top management.

Langan's Departure and Succession Plans

Veradigm, formerly known as Allscripts, disclosed the news in a recent securities filing. The company has initiated a search for a permanent CEO, with Langan opting not to participate as a candidate in this process. As part of his departure agreement, Langan will receive a substantial compensation package, including his base salary of $1.4 million for the year, a target annual bonus, an additional $406,000 based on performance, and reimbursement for legal fees associated with negotiating his separation.

The company has remained tight-lipped about the reasons behind Langan's departure, with a Veradigm spokesperson declining to comment on the matter or provide an estimated timeline for the CEO search process.

Ongoing Financial Challenges and Recovery Efforts

Langan's impending exit is set against a backdrop of financial turbulence for Veradigm. The company has been grappling with significant financial reporting issues, which led to its delisting from Nasdaq in early 2024. These challenges stemmed from what the company described as "internal control failures," resulting in prolonged delays in filing financial reports.

However, Veradigm has recently made strides in addressing these issues. In March 2025, the company issued its full-year report for 2022 and restated filings for 2020, 2021, and the first three quarters of 2022. This marked the first time since November 2022 that Veradigm had reported its annual or quarterly financials to regulators.

Despite these positive steps, the road to full financial compliance remains long. Company executives have indicated that Veradigm is unlikely to be current on its financial reporting until sometime in 2026, underscoring the complexity and extent of the company's financial challenges.

Looking Ahead: Leadership and Strategic Direction

As Veradigm navigates this period of transition, the company has taken steps to ensure continuity in its financial leadership. The employment agreement for interim CFO Lee Westerfield has been extended through the end of the year, providing some stability amidst the ongoing changes.

The search for a permanent CEO comes at a critical juncture for Veradigm. Earlier this year, the company concluded a strategic review without reaching a deal for a sale or merger, indicating a focus on internal restructuring and recovery. The incoming CEO will face the dual challenges of steering the company through its financial reporting issues while also charting a course for future growth in the competitive health IT sector.