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:
UHS VP of Development Richard Wright Resigns
Community Mercy Health Partners’ CEO Mark Weiner Resigns
University of Arkansas for Medical Sciences CFO Melony Goodhand Resigns
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
