- Strong signs for push-out forces
- After almost five years on the job
- Greg Scott to take over in the interim
- Search for a successor
(management-change.com) — Lewisville, Texas, November 08, 2016 — Tom Hall, chief executive of Adeptus, leaves. It is an abrupt change. As announced by Adeptus Health Inc. in a news release and in a regulatory filing published on Tuesday, November 08, 2016, Thomas S. (Tom) Hall leaves the post as Chief Executive Officer at the operator of freestanding emergency rooms in a surprising move after almost five years on the job, effective immediately.
Adeptus will undertake a search for a successor.
Hall’s duties are taken over in the interim by Greg Scott, currently Chairman of the Board of Directors at Adeptus Health Inc.
Hall’s sudden departure is explained as follows. Adeptus said in a fairly blunt statement: “In September, Mr. Hall informed the Board of his plans to retire by mid-2017. Given the recent challenges at the Company, Mr. Hall decided to accelerate his retirement.”
“Mr. Hall has informed the Company that there is no disagreement between Mr. Hall and the Company on any matter relating to the Company’s operations, policies or practices,” Adeptus said.
It is a phrase that may be intended to prevent false rumors. It may also fuel further speculation and raise more questions than it answers.
Such a phrase should be read very carefully. The exact wording may be insightful.
Precise information about the future plans of Hall was not immediately available.
Share price decline
The change follows a sharp decline in the share price of Adeptus Health Inc. since November 02, 2016.
Chaired by Gregory W. Scott
Adeptus Health Inc. is chaired by Gregory W. Scott. Scott became a director of the Company in 2013.
On the job as CEO since 2012
Hall has been the Chief Executive Officer of Adeptus Health Inc. since March 2012.
Hall joined Adeptus Health as an experienced leader in the healthcare industry.
Prior to joining Adeptus Health, Hall served as Chairman, President and Chief Executive Officer for NovaMed (NASDAQ: NOVA).
During his tenure at NovaMed, Hall transformed the organization from a single specialty surgery center company into a multi-specialty surgery center company operating in 19 states.
Prior to NovaMed, Hall served as President and Chief Operating Officer of Matria Healthcare Inc. (NASDAQ: MATR), a leading provider of disease management programs to large employers and health plans.
Previously he was President of ADP TotalSource.
Hall earned an MBA from Clarkson University and a BA in Business from Goshen College.
Strong signs for push-out forces
It is not completely certain what forces eventually triggered Tom Hall’s move.
The Push-out Score™ determined by management-change.com suggests strong signs for push-out forces that may have contributed to the management change.
Read the full story in the management-change.com report 42.2016 ($).