The CFO of Community Health Systems will step down from his position in a few weeks after a little more than three years with the Franklin-based hospital operator.
Tom Aaron this week told CHS’ board he will put in his last full-time day with the company Dec. 31. The 57-year-old has signed a consulting agreement that will have him “advise the company’s management team on its margin improvement programs” for the next two years. Aaron joined CHS in November 2016 as senior vice president of finance after a 32-year career with Deloitte — the last 10 of those as Tennessee managing partner — and was named CFO six months later.
Preparing to step into Aaron’s CFO chair is Kevin Hammons, a 22-year company veteran who has been assistant CFO since 2017 and treasurer since last year. During his time at CHS, the 54-year-old Hammons — who has been overseeing the company’s years-long hospital divestiture program in the wake of the purchase of Health Management Associates — also has been chief accounting officer.
“When Tom Aaron joined Community Health Systems, we were in the midst of a transitional period with numerous strategic initiatives underway, and Tom has been instrumental in advancing this work, including significant accomplishments in refinancing Company debt to provide the company with more flexibility and opportunities to advance in our markets,” CHS Chairman and CEO Wayne Smith said in a statement. “Tom also played a major role in our divestiture program to create a stronger portfolio of markets and has led internal optimization efforts to improve margins, increase efficiencies, and enhance the value of the organization […] I am confident Kevin will continue to lead and execute strategies that improve the company’s financial performance and help position Community Health Systems for future success.”
Shares of CHS (Ticker: CYH) closed Thursday at $3.51. They have risen more than 30 percent over the past six months.