tenet healthcare coo

Tenet Healthcare has promoted Chief Operating Officer Dr. Saum Sutaria to president and COO, the company announced Tuesday.. Sutaria will assume direct responsibility for Tenet's … "Since joining the company as COO, Saum has demonstrated superb business judgment and greatly contributed to the improvements in our financial results over the last few quarters," Tenet CEO and Executive Chairman Ron Rittenmeyer said in a statement.Sign up for free enewsletters and alerts to receive breaking news and in-depth coverage of healthcare events and trends, as they happen, right to your inbox.Sutaria will assume direct responsibility for Tenet's United Surgical Partners International unit as well as for Conifer Health Solutions. He will continue to head the company's hospital operations for its 65 hospitals and about 500 other facilities including surgical and outpatient centers.The weekly magazine, websites, research and databases provide a powerful and all-encompassing industry presence. Tenet Healthcare Corporation has named a chief operating officer.. “I was very optimistic that 2020 would be a very positive year, perhaps the best our company has ever enjoyed,” he said. Through its brands, subsidiaries, joint ventures, and partnerships, including United Surgical Partners International (USPI), the company operates 65 hospitals and approximately 500 other healthcare facilities. It reported a $243 million loss for the year and attributed that mainly to debt refinancing designed to reduce future interest payments.Rittenmeyer’s shareholder letter said he and other executives are donating a portion of their salaries for the next three months to a company fund that assists employees experiencing financial hardship.

Tenet Healthcare Corporation (NYSE: THC) today announced that Chief Operating Officer Saum Sutaria, M.D., has been promoted to President and COO of Tenet, effective immediately. In February, it extended his contract through December 2022.Tenet’s filing also compared Rittenmeyer’s compensation to what the company pays employees. Tenet Spotlights Additional Healthcare Heroes and Stories of Recovery Tenet Provides COVID-19 Operational Impact Update on June 16, 2020 Tenet Leadership Pays Tribute to its Nursing Staff Ronald A. Rittenmeyer was named Executive Chairman of Tenet Healthcare in August 2017 and CEO in October 2017. His pay package totaled 452 times more than the $53,714 median salary paid to all other workers. The total represents a 62% increase over his $14.98 million in compensation in 2018.“We remain intently focused on bringing us successfully through this crisis, maximizing the strength of the company and ensuring we do so with the ability to snap back and regain our trajectory once this is resolved,” Rittenmeyer wrote to shareholders.Rittenmeyer’s new contract raises his base salary to $1.5 million this year — a $300,000 increase over 2019.

As President and COO, Sutaria will continue to be responsible for the company’s Hospital Operations segment, which includes acute care hospitals, hospital-affiliated outpatient centers and employed physicians.

He received a $3.2 million bonus in 2019, earning high marks from the board for creating a “culture of accountability” and building trust with investors by delivering what the regulatory filing described as market-leading stock price growth.In 2019, Tenet’s revenue of $18.5 billion was up about 1% over the previous year.

By Paul O'Donnell. “We have been transforming Tenet into a much different company than we had two years ago when we started this turnaround effort, and were taking our performance to the next level before the unfortunate events of the COVID-19 pandemic unfolded several weeks ago.”Stand with us in our mission to discover and uncover the story of North TexasRittenmeyer’s $24.3 million pay package included just over $16 million in stock that vests over the next two years, said the filing with the U.S. Securities and Exchange Commission.

Tenet Healthcare Corporation is a multinational investor-owned healthcare services company based in Dallas, Texas, United States.

He has served on Tenet’s board since 2010, most recently as Lead Director. Join the conversation with Modern Healthcare through our social media pagesPrior to joining Tenet in January 2019, Sutaria worked for McKinsey & Co. for 18 years, where he was a leader in the healthcare and private equity practices. Get the latest headlines delivered to your inbox every weekday.In a letter to shareholders, Rittenmeyer credited the company’s nurses, doctors, administrators and other employees for their commitment in dealing with the health crisis. We help you make informed business decisions and lead your organizations to success.

Four other executives identified in Tenet’s filing received pay packages of $3.6 million or more last year.His stock awards have dropped in value since then as a result of the COVID-19 global pandemic’s impact on the markets, especially Tenet’s share price, which is down 42% this year.The company’s shareholders meeting is May 28.The board’s human resources committee praised Rittenmeyer for his “extraordinary accomplishments in turning Tenet around” over a three-year period, including cutting $300 million in operating costs.

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