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4-Traders Homepage  >  Equities  >  Nyse  >  Community Health Systems    CYH

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COMMUNITY HEALTH SYSTEMS INC : Change in Directors or Principal Officers, Financial Statements and Exhibits (form 8-K)

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02/22/2017 | 10:29pm CET

Item 5.02 Departure of Directors or Certain Officers; Election of Directors;

Appointment of Certain Officers; Compensatory Arrangements of Certain

Officers.

Retirement of W. Larry Cash as President of Financial Services, Chief Financial Officer and Director of the Company

On February 22, 2017, Community Health Systems, Inc. (the "Company") issued a press release announcing that W. Larry Cash, President of Financial Services and Chief Financial Officer, will retire as an officer and as a member of the Board of Directors of the Company effective May 16, 2017, the date of the Company's 2017 annual meeting of stockholders. Upon his retirement, Mr. Cash will enter into a consulting agreement with the Company, pursuant to which he will advise the Company's management team on issues related to healthcare finance, management and operations. A copy of the press release making this announcement is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference into this Item 5.02.

Intent to Appoint Thomas J. Aaron as Chief Financial Officer of the Company

In conjunction with Mr. Cash's retirement, the Company intends to appoint Thomas J. Aaron as Chief Financial Officer of the Company effective May 16, 2017.

Mr. Aaron, age 54, joined the Company in November 2016 as Senior Vice President - Finance. Prior to that, he was with Deloitte & Touche LLP for 32 years. Mr. Aaron served as Deloitte's Tennessee Managing partner from 2006 to 2016. His healthcare industry experience at Deloitte includes audits of public and private companies, strategy and operations improvement consulting, mergers and acquisitions, financing and public equity offering services, and participation in numerous board and committee meetings. As a partner at Deloitte, Mr. Aaron was the lead client service and lead assurance partner on the Company's external audit from 1996 to 2003 and from 2008 to 2013. Mr. Aaron received his bachelor's degree from the University of Kentucky. He serves as a Master's of Accounting Advisory Board member for the University of Kentucky and for Vanderbilt University's Owen Graduate School of Management.

Mr. Aaron is not a party to any material plan, contract or arrangement with the Company entered into in connection with Mr. Aaron's upcoming appointment, and Mr. Aaron's compensation as Chief Financial Officer has not yet been determined.

A copy of the press release related to Mr. Aaron's appointment as the Company's Chief Financial Officer is attached hereto as Exhibit 99.1 and incorporated by reference into this Item 5.02.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

The following items are included as Exhibits to this Form 8-K and incorporated herein by reference:




 Exhibit
   No.                                  Description

 99.1      Community Health Systems, Inc. Press Release dated February 22, 2017.

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses

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Financials ($)
Sales 2017 15 996 M
EBIT 2017 1 073 M
Net income 2017 63,4 M
Debt 2017 13 326 M
Yield 2017 -
P/E ratio 2017 13,75
P/E ratio 2018 8,49
EV / Sales 2017 0,90x
EV / Sales 2018 0,91x
Capitalization 1 037 M
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Mean consensus HOLD
Number of Analysts 20
Average target price 8,56 $
Spread / Average Target -6,2%
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Managers
NameTitle
Wayne T. Smith Chairman & Chief Executive Officer
Tim L. Hingtgen President & Chief Operating Officer
W. Larry Cash CFO, Director & President-Financial Services
Lynn T. Simon Chief Quality Officer
Manish Shah Chief Information Officer & Senior Vice President
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