Community Health Systems Announces That Chief Financial Officer Thomas J. Aaron Will Retire at End of the Year
December 12 2019 - 4:30PM
Business Wire
Assistant Chief Financial Officer Kevin
Hammons to Succeed Aaron
Community Health Systems, Inc. (NYSE: CYH) announced today that
Thomas J. Aaron, Executive Vice President and Chief Financial
Officer, will retire from his executive management position on
December 31, 2019. Aaron joined Community Health Systems in
November 2016 as Senior Vice President of Finance and has served as
the Company’s Chief Financial Officer since May 2017. Upon his
retirement, Aaron is expected to enter into a two-year consulting
agreement with the Company, under which he will advise the
Company’s management team on its margin improvement programs. In
addition, Aaron has recently joined the board of directors of a
publicly traded company.
Kevin Hammons, who currently serves as Senior Vice President,
Assistant Chief Financial Officer and Treasurer, will be appointed
Executive Vice President and Chief Financial Officer immediately
following Aaron’s retirement, effective January 1, 2020. Hammons
joined Community Health Systems in 1997 and has held numerous
financial leadership roles during his more than 20-year tenure,
including overseeing accounting and financial reporting, SEC
reporting, budgeting, design and implementation of financial
systems and processes, capital market transactions, corporate
finance and treasury management functions, and the Company’s
divestiture program. Hammons was appointed Assistant Chief
Financial Officer in 2017 and has served as the Company’s Treasurer
since 2018. He has also previously served as the Company’s Chief
Accounting Officer. Prior to joining Community Health Systems,
Hammons served for ten years in various positions in the Assurance
and Advisory Services practice at Ernst & Young, serving both
public and privately held companies. Hammons holds a bachelor of
arts degree from Malone University, where he also serves as a
member of its Board of Trustees. He is a Certified Public
Accountant.
Commenting on the announcement, Wayne T. Smith, chairman and
chief executive officer of Community Health Systems, Inc., said,
“When Tom Aaron joined Community Health Systems, we were in the
midst of a transitional period with numerous strategic initiatives
underway, and Tom has been instrumental in advancing this work,
including significant accomplishments in refinancing Company debt
to provide the Company with more flexibility and opportunities to
advance in our markets. Tom also played a major role in our
divestiture program to create a stronger portfolio of markets and
has led internal optimization efforts to improve margins, increase
efficiencies, and enhance the value of the organization. Our Board
of Directors and management team are deeply grateful for Tom’s
meaningful contributions and look forward to working with him in
his new role as a strategic consultant to the Company.”
Smith added, “Kevin Hammons is uniquely and highly qualified to
assume the role of Chief Financial Officer based on his more than
20 years of financial leadership roles and responsibilities at
Community Health Systems. I am confident Kevin will continue to
lead and execute strategies that improve the Company’s financial
performance and help position Community Health Systems for future
success. Kevin is supported by a very tenured and committed finance
team. He is also highly regarded by our Board and executive
management group. We are confident this will be a smooth and
seamless leadership transition for our organization.”
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 102 affiliated hospitals in 18 states with an aggregate of
approximately 17,000 licensed beds. The Company’s headquarters are
located in Franklin, Tennessee, a suburb south of Nashville. Shares
in Community Health Systems, Inc. are traded on the New York Stock
Exchange under the symbol “CYH.” More information about the Company
can be found on its website at www.chs.net.
Forward-Looking Statements
Statements contained in this news release regarding potential
transactions, operating results, and other events are
forward-looking statements that involve risk and uncertainties.
Actual future events or results may differ materially from these
statements. Readers are referred to the documents filed by
Community Health Systems, Inc. with the Securities and Exchange
Commission, including the Company’s annual report on Form 10-K,
current reports on Form 8-K and quarterly reports on Form 10-Q.
These filings identify important risk factors and other
uncertainties that could cause actual results to differ from those
contained in the forward-looking statements. The Company undertakes
no obligation to revise or update any forward-looking statements,
or to make any other forward-looking statements, whether as a
result of new information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20191212005800/en/
Investor Contacts: Thomas J. Aaron, 615-465-7000
Executive Vice President and Chief Financial Officer or Ross W.
Comeaux, 615-465-7012 Vice President – Investor Relations Media
Contact: Tomi Galin, 615-628-6607 Senior Vice President,
Corporate Communications, Marketing and Public Affairs
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