HealthSouth’s Jay Grinney retiring after 12 years as president, CEO
Jay Grinney will retire from HealthSouth Dec. 31 after 12 years as president and CEO of the company.
Chief Operating Officer Mark Tarr will succeed Grinney at the publicly traded company, which has expanded rapidly in recent years and now operates post-acute facilities and services in 34 states.
Grinney, 65, will serve as a consultant for the company until March 31. Grinney previously was an executive with HCA and took the helm of HealthSouth after its board fired Richard Scrushy, who was accused of accounting fraud.
“It has been an honor and a privilege to lead HealthSouth over the past 12 years,” Grinney said. “This planned transition comes at a time of strength and growth for HealthSouth: volumes, revenues and earnings in both segments continue to grow at a solid pace.”
The Birmingham, Ala.-based company reported strong financials for its third quarter of 2016. HealthSouth posted net income of $61.7 million, up 22% from the year-ago quarter. Revenue rose 19% to $926.8 million compared with the previous year.
Tarr, 55, has been with HealthSouth for 23 years and has been executive vice president and COO since February 2011.