August 31, 2017 / 8:39 PM / a year ago

Tenet to replace CEO, 'refresh' board

NEW YORK, Aug 31 (Reuters) - Hospital operator Tenet Healthcare Corp said on Thursday it is replacing Chief Executive Trevor Fetter and would “refresh the composition of its board.”

The move comes two weeks after the company’s largest shareholder, Glenview Capital Management, pulled two of its executives from Tenet’s board, citing irreconcilable differences over strategy.

Fetter, who has led the company since 2003, will step down as CEO and as a director by March 15, 2018 or when a successor is appointed, whichever comes earlier, the company said. The company has already launched the search for a new CEO.

Independent lead director Ronald Rittenmeyer will become Tenet’s executive chairman effective immediately. (Reporting by Michael Erman; Editing by Chris Reese)

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