HCA Healthcare Chairman and CEO Milton Johnson to Retire; Current President and COO Sam Hazen to Become CEO
September 10 2018 - 8:30AM
Business Wire
The board of directors of HCA Healthcare (NYSE: HCA) today
announced that it has approved the following:
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the full release here:
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HCA - Sam Hazen to become CEO (Photo:
Business Wire)
- 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;
- 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
- 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.
All references to “Company,” “HCA” and “HCA
Healthcare” as used throughout this release refer to HCA
Healthcare, Inc. and its affiliates.
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HCA HealthcareInvestor Contact:Mark Kimbrough,
615-344-2688orMedia Contact:Ed Fishbough, 615-344-2810
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