Phillip Douglas, chairman and CEO of LifeCare Holdings, will retire Aug. 1 after a decade at the long-term health system.
He will remain a senior adviser to the LifeCare board of directors, according to a news release.
Lew Little, a LifeCare board member, will serve as interim CEO until a successor is selected.
Douglas joined LifeCare in January 2006 as CFO. He was promoted to chairman and CEO in March 2011.
In 2012, LifeCare faced the possibility of being sold or restructured as it looked for ways to solve its massive debt.
Douglas led the system through that period and to substantial growth, acquiring several facilities and venturing into a broader array of post-acute-care services.
The Plano, Texas-based health system operates 24 critical-care and therapy hospitals in nine states.
