Wayne Smith will step away from his role as CEO of Franklin, Tenn.-based Community Health Systems to become executive chair of the board of directors, the company said Oct. 27.
Mr. Smith, who also is chair of the company's board, will transition jobs on Jan. 1 and retain certain strategic and other executive management responsibilities, the company said.
CHS intends to name Tim Hingtgen as CEO, also effective Jan. 1.
Mr. Smith has helmed CHS since 1997 and served as board chair since 2001.
Mr. Hingtgen has spent the last four years as president and COO and is a member of the CHS board of directors. Previously, he was division president and executive vice president of operations at CHS.
Their job transitions come as CHS has been on a hospital-selling spree and recorded a $70 million profit in the second quarter of 2020. Most recently, the company CHS sold Abilene Regional Medical Center and Brownwood Regional Medical Center, both in Texas, to Abilene-based Hendrick Health System.