TG Ganeshan
About TG Ganeshan
TG Ganeshan is Chief Financial Officer of Machinify and became a director of Performant Healthcare, Inc. (PHLT) at the October 21, 2025 merger closing when PHLT was taken private; he was one of two directors of the surviving corporation alongside Machinify CEO David Pierre . He holds a Bachelor’s in Technology (IIT Madras), a Master’s in Engineering (Auburn University), and an MBA (The University of Texas at Austin) with ~20 years of financial leadership spanning healthcare IT, payment integrity, and Fortune 500 roles . Tenure at PHLT: joined the board October 21, 2025; age not disclosed .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Machinify | Chief Financial Officer | 2024–present | Led finance, capital markets, M&A for healthcare AI platform |
| Innovaccer | Chief Financial Officer | 2022–2024 | Oversaw financial strategy, reporting, corporate development |
| RxSense | Chief Financial Officer | 2021–2022 | Built consumer and platform businesses’ finance ops |
| Optum (UnitedHealth) | CFO, Payer Markets; CFO, Payment Integrity | 2019–2021 | Consolidated solutions into high-growth, high-margin group; payment integrity leadership |
| Equian (acquired by Optum) | SVP Finance; VP/Director FP&A | 2016–2019 | Finance leadership through sale to Optum |
| Hilton | Senior Director, FP&A | 2015–2016 | Corporate FP&A leadership |
| United Parks | VP Finance; Sr Director Corporate Planning | 2009–2015 | Corporate planning and finance |
| SeaWorld, Anheuser-Busch | Financial leadership roles | Prior to 2009 | Finance roles across large enterprises |
External Roles
| Entity | Role | Public Company? | Notes |
|---|---|---|---|
| Machinify (portfolio company of New Mountain Capital) | Chief Financial Officer | No | Healthcare AI/payments; Machinify acquired PHLT in 2025 |
No public-company directorships disclosed for TG Ganeshan .
Board Governance
- Board composition changed at merger closing: all legacy PHLT directors resigned; post-merger directors are David Pierre (Machinify CEO) and TG Ganeshan (Machinify CFO) .
- Independence: As CFO of Machinify and director of PHLT (now a wholly-owned subsidiary of Machinify’s parent), Ganeshan is not independent of the controlling shareholder .
- Committees: New bylaws permit committees, but no committee assignments disclosed for the two-person board .
- Attendance: Prior (pre-merger) board met 4 times in 2024 with 100% board and committee attendance by then-serving directors; no attendance disclosure post-merger for Ganeshan .
Fixed Compensation
| Component | Amount/Terms | Applicability to TG |
|---|---|---|
| Pre-merger independent director cash retainer | $40,000 annual; committee retainer $10,000 (Audit), $6,000 (Comp), $5,000 (N&G); chair premiums $20,000 (Audit), $12,000 (Comp), $10,000 (N&G) | Not disclosed for TG (joined post-merger; company deregistered) |
| Pre-merger annual director equity | RSU grant with $130,000 grant-date fair value; new director RSU $100,000 vesting ratably 4 years | Not disclosed for TG (post-merger) |
Note: Following the take-private on Oct 21, 2025, PHLT notified Nasdaq of delisting and intends to terminate registration/reporting; post-merger director compensation terms are not publicly disclosed .
Performance Compensation
No performance-tied director compensation disclosed for TG Ganeshan; pre-merger director equity at PHLT was time-based RSUs, not PSU or performance-linked for directors .
Other Directorships & Interlocks
| Relationship | Details | Governance Implication |
|---|---|---|
| Interlock with controlling parent | TG Ganeshan serves as CFO of Machinify; Machinify’s parent acquired PHLT; TG is one of two directors of PHLT post-merger | Potential conflict risk; affiliated board control may reduce independence in oversight |
Expertise & Qualifications
- Education: IIT Madras (B.Tech), Auburn University (M.Eng), UT Austin (MBA) .
- Domain: Payment integrity, payer markets, healthcare IT finance, M&A and capital markets .
- Executive experience: CFO roles across Innovaccer, RxSense, Optum; finance leadership at Equian .
Equity Ownership
- No beneficial ownership disclosure for TG in PHLT’s April 2025 proxy (he was not then a director); post-merger, PHLT was delisted and intends to terminate registration, limiting ongoing Section 16 reporting .
Governance Assessment
- Board effectiveness: Post-merger board reduced to two directors, both affiliated with acquirer/parent, which concentrates control and removes independent oversight compared to pre-merger majority-independent board .
- Conflicts framework: New certificate and bylaws include an “corporate opportunity” renunciation favoring non-employee officers/directors and stockholders, potentially permitting parent-affiliated fiduciaries to pursue opportunities outside PHLT; also broad indemnification/advancement provisions and permissive interested-director transactions if approved or fair .
- Investor confidence signal: Transition to private ownership (delisting) ends public governance disclosures and say-on-pay/Section 16 reporting, reducing transparency for public investors; affiliated board suggests heightened related-party oversight needs in private context .
RED FLAGS
- Affiliated control: Both directors are executives of the acquirer/parent (non-independent) .
- Corporate opportunity renunciation: May weaken protections against conflicts for non-employee affiliated fiduciaries .
- Interested director transactions permitted when disclosed/approved or fair; requires strong process to mitigate conflicts .
References to prior governance baseline (context)
- Pre-merger PHLT director pay structure (cash/equity) and 2024 attendance provide baseline but are not applicable to TG’s post-merger directorship .