President Trump's nominee for director of the Centers for Disease Control and Prevention (CDC), Erica Schwartz, has stated in a financial disclosure submitted to the Department of Health and Human Services ethics office that, if confirmed, she will resign from her position at UnitedHealth Group, divest healthcare-related holdings, and recuse herself from matters involving former employers and clients.
Specifics from the June 16th letter include the following details.
Schwartz indicated that upon confirmation, her employment with insurer UnitedHealth Group will end. She will receive a cash payment equivalent to one year's salary and bonus before assuming her CDC role, or else she will forfeit this payment.
She stated that UnitedHealth Group has also agreed to cash out certain unvested restricted stock units and unvested stock options originally scheduled to vest between August 2026 and August 2027, while any remaining unvested awards will be forfeited.
Schwartz said she will sell her vested UnitedHealth Group shares obtained through option exercises as soon as practicable, but no later than 90 days after confirmation. Following the final cash payment, she will recuse herself for two years from particular matters involving the company.
She also stated she will resign from the boards of Butterfly Network and Aveanna Healthcare Holdings, sell her stock in these companies within 90 days, and will face additional recusal obligations related to accelerated equity awards and compensation.
Schwartz will resign from her position at the "Seeking Solutions Institute" foundation and will avoid obtaining direct financial interests in a broad range of industries regulated by the Department of Health and Human Services, including pharmaceuticals, medical devices, healthcare, food, insurance, communications, and software.