Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On October 27, 2020, Community Health Systems, Inc. (the "Company") issued a
press release announcing that Wayne T. Smith, Chairman of the Board and Chief
Executive Officer, will transition from his role as the Company's Chief
Executive Officer to the role of Executive Chairman of the Company's Board of
Directors effective January 1, 2021. The Company plans to appoint Tim L.
Hingtgen, currently President and Chief Operating Officer of the Company, to
assume the role of Chief Executive Officer, effective January 1, 2021.
Mr. Hingtgen will continue to serve as a member of the Board of Directors
following such appointment.
Mr. Hingtgen, age 53, has served as our President and Chief Operating Officer
since September 2016. He is responsible for strategic and operational priorities
of the Company and providing oversight and direction to the senior corporate and
regional operations leaders who directly support the Company's affiliated
hospitals. Mr. Hingtgen has served on the Company's Board of Directors since May
2017. He joined the Company in 2008 as a Vice President of Division Operations,
and, in January 2014, he was promoted to Division President. In that position,
Mr. Hingtgen oversaw the operations of the Company's affiliated hospitals in the
western United States. In May 2016, Mr. Hingtgen was promoted to Executive Vice
President of Operations. In that position he worked directly with the Company's
Chief Executive Officer, Chief Operating Officer and Chief Financial Officer to
advance the Company's strategic priorities and to help elevate operational and
financial performance in key markets. Mr. Hingtgen has over 20 years of
healthcare management experience. Prior to joining the Company, he held chief
executive officer and chief operating officer positions at for-profit hospitals
in Arizona, Indiana and Nevada. Mr. Hingtgen has a master's degree in business
administration from the University of Nevada, Las Vegas.
Mr. Hingtgen is not a party to any plan, contract or arrangement with the
Company entered into in connection with his upcoming appointment as Chief
Executive Officer, and Mr. Hingtgen's compensation as Chief Executive Officer
has not yet been determined. Additionally, Mr. Smith is not a party to any plan,
contract or arrangement with the Company entered into in connection with his
upcoming appointment as Executive Chairman, and Mr. Smith's compensation as
Executive Chairman has not yet been determined.
A copy of the press release announcing the matters discussed above is attached
as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by
reference into this Item 5.02.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
The following exhibits are filed herewith:
Exhibit
No. Description
99.1 Community Health Systems, Inc. Press Release dated October 27, 2020.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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