Trevor Fetter on Monday stepped down from his position as CEO and director of Tenet Healthcare.
Tenet's board of directors has appointed Executive Chair Ronald Rittenmeyer to serve as CEO while the system conducts a search for a permanent appointment.
Tenet announced in August that it would replace Fetter, who has led the system since 2003. At the time, the health system said Fetter would leave his post once Tenet appointed a successor or by March 15, 2018.
However, while the system has not yet found a permanent CEO, Fetter said, "Now is the right time ... to step down." He noted he has "confidence in [Rittenmeyer's] leadership and Tenet's management team." Fetter added that he is "grateful for the hard work and dedication of all of Tenet's employees" and that "it has been an honor to work alongside them."
Rittenmeyer said, "I want to sincerely thank [Fetter] for his leadership of the company over the past 14 years, and particularly for his support in making this transition a success."
The announcement follows Tenet's decision earlier this month to eliminate its regional management layer so as to streamline the organization, Modern Healthcare reports. According to Forbes, there have been reports in recent weeks that Tenet is considering different strategic options, including possible sale of parts of the company. Tenet has 77 acute-care hospitals, 21 short-stay hospitals, and more than 460 outpatient centers through its subsidiaries (Ellison, Becker's Hospital Review, 10/23; Kacik, Modern Healthcare, 10/23; Japsen, Forbes, 10/23; Morse, Healthcare Finance News, 10/23).
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