The directors of Surgery Partners have rejigged the company’s executive suite, naming CEO Wayne DeVeydt to the post of executive chairman and promoting the former Tenet Healthcare executive they brought on last year as COO to be CEO.
As part of the moves, which became effective Monday, Eric Evans also has been named a director of the company and will continue to report to DeVeydt. Evans, 42, joined Brentwood-based Surgery Partners early last year after spending nearly 15 years at Tenet, most recently as president of hospital operations. He will keep his operational oversight duties while also assuming some corporate functions from DeVeydt, who is shifting his focus to long-term strategy and business development.
“We are truly excited by the transformation that Wayne has led at Surgery Partners over the last two years, and the exceptional leadership team he has developed, allowing him to now focus more of his time and energy on business development efforts to help accelerate the long-term value creation we are confident Surgery Partners can deliver,” said Devin O’Reilly, a Surgery Partners director and a managing director of Bain Capital, the company’s majority shareholder.
DeVeydt, 50, has led Surgery Partners since the beginning of 2018 after holding several senior executive positions at Anthem and working as a senior advisor in Bain’s health care group. As executive chairman, he will be paid a base salary of $250,000 and be eligible for a bonus of up that amount. He also has kept the various equity awards he was given as CEO.
Evans will be paid an annual salary of $1.05 million — DeVeydt’s was $1.25 million last year and in 2018 — and is eligible for a bonus of about $790,000.
Shares of Surgery Partners (Ticker: SGRY) closed Friday trading at $15.25, up slightly for the week. They have just about doubled in the past six months.
This story first ran in our sister publication the Nashville Post.