Nashville, Tenn.-based Vanguard Health Systems has removed William Foley as CEO of the Chicago market, according to a Crain's Chicago Business report.
Since 2011, Mr. Foley has served as leader of Vanguard's four Chicago hospitals: MacNeal Hospital in Berwyn, Weiss Memorial Hospital in Chicago, Westlake Hospital in Melrose Park and West Suburban Medical Center in Oak Park.
Mr. Foley has been replaced by Erik Wexler, head of Vanguard's New England market. He will now supervise both the Chicago and New England markets.
The corporate reorganization was being planned before Dallas-based Tenet Healthcare Corp. announced in June that it would acquire Vanguard, according to the report.
In a memo acquired by Crain's Chicago Business, Vanguard CEO Charles Martin wrote: "We have determined that it is difficult to justify the current market-based structure in Chicago as we face a particularly challenging (fiscal 2014) budget outlook. We believe the consolidation is a necessary step toward ensuring overall financial health and avoiding more drastic reductions in the future."
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