- Push-out Score determined
- After 42 years in the position
- Accolades and praise for Alan Miller
- Marc Miller taking over
- Alan Miller will remain as Executive Chairman at Universal Health
- Alan Miller said 78 words
(exechange) — King of Prussia, Pennsylvania, September 8, 2020 — This news came the day after Labor Day. Alan Miller, chief executive of Universal Health, leaves his position. As announced by Universal Health Services Inc. in a news release and in a regulatory filing published on Tuesday, September 8, 2020, Alan B. Miller leaves his post as chief executive officer at the provider of hospital and healthcare services after 42 years in the role, effective January 1, 2021.
It is the end of an era.
Alan Miller’s duties as CEO will be taken over by Marc D. Miller, currently President of Universal Health Services Inc.
It is a generational change as well. Marc Miller is about 34 years younger than Alan Miller.
“Longstanding succession plan”
Alan Miller’s departure from the CEO post is explained as follows. Universal Health said: “Universal Health Services, Inc. (NYSE:UHS) announced today that consistent with our longstanding succession plan, Alan B. Miller, Founder, Chairman and Chief Executive Officer of Universal Health Services, Inc., will step down as Chief Executive Officer of the company and transition leadership to Marc D. Miller, who currently serves as President.”
Alan Miller will remain as Executive Chairman at Universal Health
“Alan B. Miller will continue to serve as Executive Chairman of the Board of Directors of UHS in addition to retaining certain other management responsibilities within the company. Alan B. Miller will also continue to serve in his current role of Chairman of the Board, President and Chief Executive Officer of Universal Health Realty Income Trust (NYSE: UHT). UHT, which was founded by UHS under the leadership of Alan B. Miller in 1986, is a real estate investment trust that currently has 71 real estate investments located in 20 states,” Universal Health said.
Universal Health said: “Mr. Alan B. Miller, the Chairman and Chief Executive Officer of Universal Health Services, Inc. (the “Company”) has informed the Board of Directors of the Company of his decision to step down from the role of Chief Executive Officer of the Company effective January 1, 2021.”
Share price decline
The announcement follows a decline in Universal Health Services Inc.’s share price of 14% since September 2015.
In the position of CEO since 1979
Alan Miller became CEO of the Company in 1979.
Alan B. Miller serves as Chairman of the Board and Chief Executive Officer.
Alan B. Miller has served in these roles since the Company’s inception and also served as President from inception until May, 2009.
Prior thereto, he was President, Chairman of the Board and Chief Executive Officer of American Medicorp, Inc.
He currently serves as Chairman of the Board, Chief Executive Officer and President of Universal Health Realty Income Trust.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Universal Health and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 37.2020 ($).