– USA, TN – Community Health Systems, Inc. (NYSE: CYH) today announced that the current Chairman and CEO, Wayne Smith will transition to Executive Chairman of the Board of Directors, effective January 1, 2021.
The Company plans to appoint Tim Hingtgen as the new CEO, effective January 1, 2021.
Hingtgen has served as President and COO since 2016 and as a member of the Board of Directors since 2017. He began his career with Community Health Systems in 2008 and has been promoted several times to increasing levels of responsibility, including Division President and Executive Vice President of Operations before becoming President and Chief Operating Officer. Hingtgen’s appointment to Chief Executive Officer is part of a longstanding succession plan.
“The Community Health Systems Board of Directors is eternally grateful to Wayne Smith for his leadership as Chief Executive Officer for nearly 23 years, and we are extremely pleased that he will remain involved in setting our organization’s strategic direction and continue to perform certain other management duties as our Executive Chairman,” said Lead Director, Julia North. “Wayne has been a true and tireless champion for the healthcare industry, exerting his influence to improve healthcare for millions of patients, as well as for the physicians, nurses, and others who provide essential healthcare services in communities across the nation. Wayne and his team have reshaped and positioned Community Health Systems for long-term success, and he is making this important leadership transition at a time when the Company is on a very positive trajectory and optimistic about the future.”
Julia North added, “We are equally enthusiastic about Tim Hingtgen and the operational leadership he has provided during a transformative period for Community Health Systems. Tim is relentlessly focused on improving the competitive position of our markets, achieving operational excellence, and most importantly, enabling safe, quality, compassionate care for patients. Tim has a strong track record of producing tangible and meaningful results. He is an energetic leader who is ready to assume the important responsibilities of Chief Executive Officer. Tim has the complete confidence of our Board, and he is surrounded by a highly committed, high functioning group of leaders who support and share a commitment to leading Community Health Systems forward.”
Over the past few years, Smith and Hingtgen, along with other Company leaders, have worked together to complete a portfolio optimization initiative that has reshaped the organization into a stronger group of growth-oriented healthcare systems. At the same time, the Company has invested in its core markets, extended maturities and reduced debt, and implemented clinical, operational, and margin improvement strategies that are expected to drive long-term results.
“It has been a privilege, an honor, and truly one of the greatest experiences of my life to serve as Chief Executive Officer of Community Health Systems,” said Wayne Smith, Chairman, and CEO. “Over more than two decades, my confidence in this Company has never wavered. Our commitment to caring for patients and providing value for our communities has always come first – no matter the challenges – and we are proud that we have made a positive difference in the lives of millions of people. I have been fortunate, and I am very grateful, to have worked with incredibly smart and dedicated people who want to make healthcare better. I’m optimistic about the future of the Company under Tim’s leadership. He is passionate about quality patient care, and he is committed to strategies that will advance healthcare delivery for years to come. I know Tim will be an effective and outstanding Chief Executive Officer for our company.”
About Tim L. Hingtgen
Tim L. Hingtgen has more than 20 years of executive-level healthcare management experience and currently serves as the Company’s President and Chief Operating Officer. He is responsible for the Company’s strategic and operational priorities, and he provides oversight and direction to senior corporate and regional operations leaders who directly support the Company’s affiliated hospitals.
Hingtgen joined Community Health Systems in 2008 as a VP, Division Operations. In January 2014, he was promoted to Division President and oversaw the operations of affiliated hospitals in the western United States. In May 2016, Hingtgen was promoted to EVP, Operations and in September 2016, he was named President and COO. He has served on the Company’s Board of Directors since May 2017.
Before joining Community Health Systems, Hingtgen held CEO and COO positions at hospitals in Arizona, Indiana, and Nevada. Hingtgen earned his bachelor’s degree at the University of Iowa and has a master’s degree in business administration from the University of Nevada, Las Vegas.
“I look forward to serving Community Health Systems at the next level of leadership, which is both humbling and gratifying, especially in an organization that provides high-quality, essential services in communities across the country,” said Tim Hingtgen, President and COO. “I am honored to work with capable, committed leaders across our organization, to focus my energy on strong collaboration, to support the work of our frontline caregivers, and to promote growth across all of our markets. I am also deeply grateful to Wayne Smith for his leadership of our organization and for the opportunity to work closely with him these past few years. I could not be more appreciative of Wayne and our Board of Directors for their support, confidence, and trust.”
About Community Health Systems, Inc.
Community Health Systems, Inc. is one of the largest publicly traded hospital companies in the United States and a leading operator of general acute care hospitals in communities across the country. The Company, through its subsidiaries, owns, leases, or operates 89 affiliated hospitals in 16 states with an aggregate of approximately 14,000 licensed beds. The Company’s headquarters are located in Franklin, Tennessee, a suburb south of Nashville.
For more information: https://www.chs.net/
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