Archives     Advertise     Editorial Calendar     Subscribe     Contact Us    


HCA's Johnson to Retire, Hazen to Take Lead Role


 

On Monday morning, Sept. 10, the board of directors of HCA Healthcare (NYSE: HCA) announced that it has approved the following:

o Sam Hazen, the company's president and chief operating officer, will succeed R. Milton Johnson as CEO on January 1, 2019; he has also been appointed a member of the board of directors, effective today;

o Johnson will retire as CEO, effective December 31, 2018; he will continue as chairman of the board of directors through the company's 2019 annual shareholders' meeting on April 26, 2019; and

o At the company's 2019 annual shareholders' meeting, Johnson will retire from the board of directors; on that same date, the board of directors plans to appoint Thomas F. Frist III, a current board member, to be chairman of the board of directors.

Johnson, a 36-year veteran of HCA Healthcare, said: "Since January 1, 2014, it has been my privilege to be CEO of this great company. In that time, we have enhanced the company's commitment to patients. We have done this by advancing our clinical agenda, which focuses on the delivery of high-quality patient care and improving patient satisfaction. At the same time, we have grown revenues from $34.2 billion in 2013 to $43.6 billion in 2017; invested approximately $13 billion in capital expenditures; returned more than $10 billion in cash to shareholders through share repurchases and dividends; and increased our stock price over 275 percent. I remain excited about the company's future and have strongly endorsed Sam as the right person to lead the company; his leadership has greatly contributed to our success."

Hazen has been with the company for almost 36 years. Prior to his present position as president/COO, he served as the company's chief operating officer, president-operations, Western Group president and Western Group CFO. Hazen said: "I am honored to succeed Milton as the company's CEO and join HCA Healthcare's board of directors. I want to thank Milton for his strong leadership during his many years with the company. We are committed to providing our patients with the best possible care. As head of the company's operations for over seven years, I have worked with all our stakeholders--including patients, physicians, employees, shareholders and the board--to fulfill that commitment. In this transition and beyond, I pledge to use my leadership role to continue our focus on providing the best possible care for patients, as well as building on our successes for all our stakeholders."

Frist is the son of HCA Healthcare founder Thomas Frist, Jr. Frist has been on the board of HCA since 2006 and chairs the finance and investments committee. The Frist family owns approximately 20 percent of HCA Healthcare's outstanding shares. Chad Holliday, who will remain the company's independent presiding director, said: "Tommy grew up as part of the HCA Healthcare family. He knows the company and culture very well and shares management's passion for patient care. We're excited about this transition and expect a continuation of the good governance and operational excellence at HCA Healthcare under his board leadership."

With the addition of Hazen, the board of directors has been increased from 11 to 12 members.

 
Share:

Related Articles:


Recent Articles

Alexander Visits Neighborhood Health at East Side in Nashville

VIDEO of United States Senator Lamar Alexander (R-Tenn.) visiting the Neighborhood Health at East Side health center in Nashville, where he learned more about what the center is doing to provide access to health care services in urban, underserved areas of Nashville.

Read More

AMA Grants MycoDART CPT Code For Its Life-Saving Test

MycoDART, Inc., developer of proprietary DNA tests, announced its second patented assay has been granted a CPT code from the American Medical Association.

Read More

Low-level Alcohol Use Increases Miscarriage Risk

Women who consume alcohol during pregnancy -- even in small amounts -- have a 19% greater risk of miscarriage than women who don't use alcohol, according to a new study by Vanderbilt researchers.

Read More

Beating the Odds

Vanderbilt Children's Hospital researchers play key role in groundbreaking study.

Read More

Hot Topics in Healthcare Law

Never a dull moment ... the highly regulated nature of the healthcare industry keeps America's health lawyers hopping.

Read More

Vanderbilt Children's New Program Leaders, Rankings

Monroe Carell Jr. Children's Hospital at Vanderbilt has recently welcomed new leaders to oversee specialty programming and again been recognized nationally in multiple specialties.

Read More

Insuring Kids

Local experts offer insight over ongoing coverage concerns for Tennessee children

Read More

Services for Mom & Baby Expanding at TriStar Centennial

Innovative initiatives at TriStar Centennial designed to keep mom and baby safe, together.

Read More

Another Option to Address Pediatric ADHD

NeuroSigma recently received FDA clearance for the first device to treat pediatric ADHD, offering providers, patients and parents a new alternative to medication.

Read More

Back to School Reminders for Patients & Providers

Back-to-school season is here, and it's a great time to talk to patients and parents about starting off the year with healthy habits

Read More

Email Print
 
 

 

 


Tags:
HCA, Milt Johnson, Milton Johnson, Sam Hazen, Succession Planning
Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: