The SEC's official line is that Stachnik's retirement was planned, but no interim or permanent placement has been named, and the SEC hasn't even gotten around to announcing his departure.

FORBES: SEC Official Retires As Report Blasts Performance

While stating that it is their statutory obligation to break even, Mr Goodall explained that on a local basis, the NHS had taken decisions to close some services on an interim and even permanent basis, but that community projects were able to benefit from this action.

BBC: Public Accounts Committee

The SEC also intends to make this permanent, subject to interim rules and a public comment period.

FORBES