HCA Healthcare Chief Executive R. Milton Johnson on the floor of the New York Stock Exchange in August. He will remain chairman of the board until April 2019. PHOTO:RICHARD DREW/ASSOCIATED PRESS
HCA Healthcare Inc. said President and Chief Operating Officer Sam Hazen will take the top spot at the hospital operator, succeeding R. Milton Johnson as chief executive at the beginning of next year.
Mr. Hazen will also join HCA’s board, effective Monday, expanding the number of directors to 12, the company said.
Mr. Johnson, who has been CEO for four years, plans to step down from the role on Dec. 31. He will remain chairman of the board until the company’s next annual shareholder meeting on April 26, 2019.
Thomas Frist, III, the son of the founder, Thomas Frist, Jr., will become chairman of the board next year. He has been a board member since 2006.
In prepared remarks, Mr. Johnson said the Nashville, Tennessee-based company grew its annual revenue from $34.2 billion in 2013 to $43.6 billion in 2017.
Mr. Hazen, who is a 36-year HCA veteran, has served in various roles at the company, including president and chief financial officer of HCA’s Western Group overseeing operations in Northern Texas and other markets.
HCA’s shares were down 0.2% in morning trade Monday. Its stock has nearly doubled for the year.