Steven M. Scott, M.D., has taken a leave of absence as president and chief executive officer of Coastal Physician Group.
Taking over is Joseph G. Piemont, 41, who has served as the company's executive vice president and general counsel since August 1993.
Scott, who founded the company 19 years ago, will continue as a member of the board of directors. The company didn't give a reason for his stepping down or say how long the leave would last.
The company said the role of Coastal Chairman Jacque Sokolov, M.D., a well-known consultant, has been expanded to include board development, investor communications and strategic implementation of a management action plan.
Prior to joining Coastal, Piemont was general counsel for a financial services company specializing in corporate revitalization efforts.
In 1995 Coastal incurred operating losses, partly attributed to a dispute with Humana, a major payer in Florida. This year Coastal has sold its Florida clinics, decreased its corporate staff and hired a turnaround team from Price Waterhouse.
Coastal delayed the release of operating results for the first quarter ended March 31. It said that completing documents to restructure its credit facilities resulted in extraordinary time demands on senior management.