The board of directors of HCA Healthcare (NYSE: HCA) today announced
that it has approved the following:
-
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.
HCA Healthcare
Investor Contact:
Mark Kimbrough, 615-344-2688
or
Media Contact:
Ed Fishbough, 615-344-2810