- Push-out Score suggests push-out forces
- After around 12 years in the position
- Praise and thanks for Carpenter
- David Dill taking over
- Carpenter spoke at length and said 178 words
(exechange) — Brentwood, Tennessee, September 26, 2018 — Bill Carpenter, chief executive of LifePoint Health, leaves. As announced by LifePoint Health, Inc. in a news release and in a regulatory filing published on Wednesday, September 26, 2018, William F. (Bill) Carpenter leaves his post as Chief Executive Officer at the hospitals company after around 12 years in the role, effective upon completion of the Company’s pending merger with RCCH HealthCare Partners, which is anticipated to occur later this year.
It is the end of an era.
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 years, according to data compiled by exechange. Only 35 percent of the CEOs who departed over the past 12 months left the position after more than 10 years.
Carpenter’s duties will be taken over by David M. Dill, currently Chief Operating Officer of LifePoint Health, Inc.
On July 23, 2018, LifePoint Health, Inc. and RCCH HealthCare Partners had stated: “Upon completion of the transaction, the combined company will be privately held, operate under the LifePoint Health name and be led by William F. Carpenter III, chairman and chief executive officer of LifePoint.”
No reason given
In the announcement, LifePoint Health did not explicitly explain the reason for Carpenter’s move, leaving room for speculation.
Precise information about Carpenter’s future plans was not immediately available.
LifePoint Health said: “William F. Carpenter III (Bill) will retire upon completion of the Company’s pending merger with RCCH HealthCare Partners, which is anticipated to occur later this year.”
Share price decline
The change follows a decline in the share price of LifePoint Health, Inc. since June 2015.
In the position of CEO since 2006
Carpenter has been the Chief Executive Officer of LifePoint Health, inc. since June 26, 2006.
William F. Carpenter III is Chairman and Chief Executive Officer of the Company.
Carpenter is a founding member of the Company, having served in various roles as Executive Vice President, Senior Vice President, General Counsel, Secretary and Corporate Governance Officer.
Carpenter is secretary and past chairman of the board of directors for the Federation of American Hospitals, the national public policy organization for investor-owned hospitals.
He serves on the board of directors of the American Hospital Association.
Carpenter is also a member and past chairman of the Nashville Health Care Council Board of Directors, and serves on the boards of directors of the Nashville Area Chamber of Commerce, NashvilleHealth, the Center for Medical Interoperability, United Way of Nashville, and Nashville Public Radio.
A recognized leader in the healthcare industry, he has appeared on Modern Healthcare magazine’s annual “100 Most Influential People in Healthcare” list numerous times.
Following his retirement, Carpenter will join the merged organization’s Board of Directors.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Bill Carpenter’s move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the change.
Read the full story in the exechange report 40.2018 ($).