It appears that HCA executives, long accustomed to the fallout from fraud problems, are coming to the rescue of HealthSouth Corp.
The Birmingham, Ala.-based rehabilitation company again drew from HCA's pool of top executives for its new COO. Mike Snow, 49, recently president of HCA's $2 billion Gulf Coast division, reports to new HealthSouth CEO Jay Grinney, formerly HCA's Eastern group president.
The pair will attempt to repair HealthSouth's finances and reputation, both damaged by massive accounting fraud.
Snow also has served as CEO of a Tenet Healthcare Corp. hospital in Louisiana and has held positions at Universal Health Services and Humana. He was 2002-03 chairman of the Texas Hospital Association.
Snow said he hopes to build on HealthSouth's entrepreneurial strength in the marketplace and continue exploring with physicians new alternatives to patient-care delivery.
As expected, HealthSouth also named Robert May, its former acting CEO, as chairman of its board. May, a company director since October 2002, was interim CEO from March 2003 until the appointment of Grinney as CEO in May. Acting Chairman Joel Gordon, who agreed to serve in the position while the company remade its management team, will remain a director and receive the title chairman emeritus.