- Push-out Score determined
- After about five years in the position
- Praise and thanks for Johnson
- Johnson spoke at length and said 124 words
(exechange) — Nashville, Tennessee, September 10, 2018 — Milton Johnson, chief executive of HCA Healthcare, hands over the reins. As announced by HCA Healthcare, Inc. in a news release on Monday, September 10, 2018, R.Milton Johnson leaves his post as chief executive officer at the hospital operator after about five years in the role, effective December 31, 2018.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who departed over the past 12 months was 9.2 years, according to data compiled by exechange.
Johnson’s duties will be taken over by Samuel N. (Sam) Hazen, currently chief operating officer of HCA Healthcare, Inc.
No reason given
In the announcement, HCA Healthcare did not explicitly explain the reason for Johnson’s move.
Precise information about Johnson’s future plans was not immediately available.
HCA Healthcare said: “Johnson will retire as CEO, effective December 31, 2018.”
Share price rise since January 2016
The change follows a rise in the share price of HCA Healthcare, Inc. since January 2016.
In the position of CEO since 2014
R.Milton Johnson was appointed Chairman and Chief Executive Officer effective December 31, 2014.
Johnson served as President and Chief Executive Officer from January 1, 2014 to December 31, 2014 and has been a director of the Company since December 2009.
Johnson previously served the Company as President and Chief Financial Officer from February 2011 through December 2013 and Executive Vice President and Chief Financial Officer from July 2004 to February 2011.
Prior to that time, he served as Senior Vice President and Controller from July 1999 until July 2004 and as Vice President and Controller of the Company from November 1998 to July 1999.
From April 1995 to October 1998, Johnson served as Vice President — Tax of the Company. Prior to that time, Johnson served as Director of Tax for Healthtrust, Inc. — The Hospital Company from September 1987 to April 1995.
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.
Push-out Score determined
Read the full story in the exechange report 38.2018 ($).