Tenet Healthcare CEO Fetter to Step Down, Starts Board Refreshment
Dallas-based healthcare company Tenet Healthcare Corporation (THC) - Get Report on Thursday announced that its chairman and CEO Trevor Fetter has stepped down from his positions as director and CEO.
The company said he would resign effective earlier of March 15, 2018, or when a successor is appointed.
Its current independent lead director Ronald A. Rittenmeyer will become executive chairman effective immediately. The role establishes Rittenmeyer as the company's senior most executive.
Tenet has also started the process to "refresh the composition of its Board." The process will ensure that future board members have the best "mix of skill and experience to maximize the future value of the company," Tenet said.
"The Board of Directors thanks Trevor for his significant contributions to Tenet and appreciates his commitment to remain with the Company during the transition period. During Trevor's tenure, Tenet has built a strong enterprise that is aligned with the trends driving healthcare, and which provides multiple channels for growth across the company's Hospital, Ambulatory and Conifer segments," Rittenmeyer said.
Shares of Tenet were rising in after-hours trading on Thursday.
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