Vanguard President, COO Kent Wallace Resigns to Head RegionalCare
U.S. Securities and Exchange Commission.
Mr. Wallace will resign to become CEO of RegionalCare Hospital Partners, a for-profit health system based in Brentwood, Tenn., that owns and operates seven hospitals. He will assume all responsibilities of RegionalCare President and COO John Rutledge, who is stepping down to pursue "other business endeavors." In the process, Vanguard waived Mr. Wallace's non-compete covenant, but he still must follow other terms of his restated employment agreement.
In fiscal year 2012, Mr. Wallace earned $2.75 million in total compensation.
Charles Martin Jr., chairman and CEO of Vanguard, will add president to his title, effective March 1.
Martin Rash, current CEO and founder of RegionalCare, will be promoted to executive chairman.
More Articles on Hospital Executive Moves:
© Copyright ASC COMMUNICATIONS 2014. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.
To receive the latest hospital and health system business and legal news and analysis from Becker's Hospital Review, sign-up for the free Becker's Hospital Review E-weekly by clicking here.
New from Becker's Hospital Review