Bao Truong
About Bao Truong
Bao Truong is a Class III director of GoHealth, Inc., appointed August 19, 2025, with a term expiring at the 2026 annual meeting. He is a Senior Managing Director at Centerbridge Partners, L.P., overseeing investments across private equity and credit. He was appointed to the Board’s Transformation Committee, Compensation Committee, and Nominating & Corporate Governance Committee, and, as a Centerbridge employee, does not receive director compensation from GoHealth . As of November 17, 2025, he signed as a Director on GoHealth’s Form S-3 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Centerbridge Partners, L.P. | Senior Managing Director | Current (prior dates not disclosed) | Oversees investments across sectors in private equity and credit |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Not disclosed | — | — | No other public company directorships disclosed in Company filings |
Board Governance
| Item | Details |
|---|---|
| Board Class | Class III director; term through 2026 annual meeting |
| Committee Assignments | Transformation Committee (member), Compensation Committee (member), Nominating & Corporate Governance Committee (member) |
| Independence Status | Board’s specific independence determination for Truong not disclosed; he is a Centerbridge employee and Centerbridge designee under the Stockholders Agreement . The Company is a “controlled company” and avails itself of Nasdaq governance exemptions (e.g., committees not entirely independent) . |
| Attendance | Not disclosed for Truong. Company-wide: six Board meetings in FY2024; each director attended ≥75% of Board and committee meetings during service (pre-dates Truong’s appointment) . |
| Lead Independent Director | Lead independent director role exists; Alexander Timm was lead independent director in 2024 (pre-dates Truong’s appointment) . |
Fixed Compensation
| Component | Policy | Actual for Truong |
|---|---|---|
| Annual Cash Retainer | Standard policy: $150,000 for non-employee directors; exceptions for chairs/co-chairs; Centerbridge nominees traditionally uncompensated | None; as a Centerbridge employee, Truong does not receive director compensation |
| Meeting Fees | Not specified beyond annual retainers | None disclosed |
| Committee Chair Fees | RSU values differentiated for chairs vs. non-chairs ($250k vs $150k annual RSU grant) | Not applicable; no compensation |
Performance Compensation
| Element | Terms | Actual for Truong |
|---|---|---|
| Equity Grants (RSUs/Options) | Standard policy grants RSUs to directors with quarterly vesting; change-in-control acceleration | None; Centerbridge nominees do not receive director equity compensation; Truong uncompensated |
| Performance Metrics | Not applicable to directors (metrics apply to executive annual bonus programs) | Not applicable |
Other Directorships & Interlocks
| Category | Details |
|---|---|
| Stockholders Agreement Designation | Truong was nominated as a Centerbridge designee under the Stockholders Agreement, which grants Centerbridge board designation rights based on ownership thresholds |
| Controlled Company Status | GoHealth is a “controlled company” under Nasdaq rules (Centerbridge and NVX Holdings together hold >50% voting power), and the Company has elected exemptions from certain governance requirements (e.g., fully independent Nominating and Compensation Committees) |
| Related Party Transactions | No transactions requiring Item 404(a) disclosure with Truong, apart from those involving Centerbridge described in the Company’s 2025 proxy |
Expertise & Qualifications
- Senior investment leadership across private equity and credit, with experience overseeing investments and corporate transformations .
- Participation on Transformation, Compensation, and Nominating & Corporate Governance Committees signals focus on strategic restructuring, pay design, and board composition oversight .
Equity Ownership
| Security | Amount Beneficially Owned | Source | Notes |
|---|---|---|---|
| Class A Common | 0 | Form 3 (08/28/2025) | “No securities are beneficially owned” upon initial filing |
| Class B Common | 0 | Form 3 (08/28/2025) | None reported |
| Derivatives (Options/RSUs) | 0 | Form 3 (08/28/2025) | None reported |
| Hedging/Pledging | Company policy prohibits hedging; pledging not disclosed for Truong | Code of Business Conduct & Insider Trading Compliance Policy | Applies to all directors; no individual exceptions disclosed |
Insider Filings
| Filing | Date | Key Disclosure |
|---|---|---|
| Form 3 | 08/28/2025 | Initial statement; no securities beneficially owned; EDGAR Next Power of Attorney filed |
| S-3 Signatures | 11/17/2025 | Signed as Director on Registration Statement |
Governance Assessment
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Positive signals:
- Board refresh and strategic oversight: Truong joins alongside other newly appointed directors during a period of strategic retrenchment and liquidity preservation; Company explicitly cites Board refresh to enable consolidation opportunities, indicating active governance posture .
- No personal cash/equity compensation: As a Centerbridge employee, Truong receives no director compensation from GoHealth, reducing direct pay-related conflicts at the individual level .
- Committee engagement: Immediate assignment to Transformation, Compensation, and Nominating & Corporate Governance Committees reflects substantive involvement in strategy, pay frameworks, and board composition .
-
Risk indicators and RED FLAGS:
- Controlled company governance exemptions: GoHealth avails Nasdaq exemptions for “controlled companies,” permitting non-independent composition of the Nominating and Compensation Committees—heightening potential conflicts, especially with a significant stockholder’s employee on these committees .
- Stockholders Agreement influence: Centerbridge possesses director designation rights; combined with voting power, this may concentrate board control and reduce minority shareholder influence over board composition and pay .
- Independence determination not disclosed: Unlike prior Centerbridge designees (Gelber, Modi) who were deemed independent despite affiliations, Truong’s independence status is not explicitly stated; affiliation with a significant stockholder warrants investor scrutiny .
- Ownership alignment: Form 3 reported zero beneficial ownership; while Centerbridge’s fund exposure may align incentives at the firm level, Truong’s personal “skin-in-the-game” with GOCO is not evident at appointment—neutral to negative for personal alignment .
Overall: Truong’s committee roles and the board refresh support strategic execution. However, Centerbridge affiliation, committee seatings under controlled company exemptions, and no disclosed personal equity stake present governance risks for minority shareholders, particularly regarding compensation oversight and director nominations .