Health Care CFO Recalled by Marines

Burke Whitman will leave Texas-based Triad Hospitals for a tour of duty that likely will take him to Iraq.
Stephen TaubFebruary 11, 2005

Triad Hospitals Inc. announced that chief financial officer and executive vice president Burke W. Whitman, a lieutenant colonel in the United States Marine Corps Reserves, will be recalled to temporary active military duty in March and will probably serve in Iraq. He is expected to return to the company in the fourth quarter of this year.

Whitman joined the Plano, Texas-based company in 1999 and led its spin-off from HCA Inc. that year. In 2001, Triad acquired Quorum Health Resources for about $2.4 billion in cash, stock, and assumption of debt. Today, Triad owns or operates 52 hospitals and 14 ambulatory-surgery centers in 15 states; through Quorum, it offers advisory services to more than 200 independent community hospitals and health systems throughout the country. In 2003, Triad reported annual revenues of $3.87 billion.

Triad stated that Whitman will remain involved in its strategic and other significant decisions through electronic and telephonic communications during his tour of duty, but other officers will conduct the company’s day-to-day business.

Senior vice president and controller W. Stephen Love will serve as acting chief financial officer; chairman and chief executive officer James D. Shelton and director of finance and investor relations Laura C. Baldwin will lead the company’s investor relations activities. Love and Baldwin will report to the CEO during Whitman’s absence. The company expects no significant impact on its operations or performance.

Whitman, who has served on active duty before, has also been president and CFO of Deerfield Healthcare Corp, vice president for finance and development of Almost Family Inc., and an investment banker with Morgan Stanley.

“We are proud of Burke and his service to our country, and we look forward to his safe and early return,” said Shelton.