Tenet Healthcare CEO transition: Rittenmeyer to Executive Chairman, Sutaria becomes CEO Sept 1, 2021

TENET HEALTHCARE CORP

Ronald Rittenmeyer transitions from CEO to Executive Chairman through 2022, then advisor through 2024; base salary $1.5M then $750K, retention bonus $5M.
Saumya Sutaria promoted to CEO effective Sept 1, 2021; base salary $1.2M, target bonus 125% of salary, equity award $8M in RSUs.
Sutaria's employment agreement initial term through Dec 31, 2025, with automatic one-year renewals; severance provisions detailed.
Rittenmeyer receives $5M retention bonus payable Dec 31, 2024 if employed through Term; accelerated vesting on qualifying termination.
Both executives subject to perpetual confidentiality, non-disparagement, and post-employment non-compete/non-solicit covenants.

item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Ronald A. Rittenmeyer

Executive Chairman

THC · TENET HEALTHCARE CORP

Effective: 2021-09-01
Filed: September 3, 2021, 7:59 PM ET

Ronald A. Rittenmeyer will transition from Chief Executive Officer of the Company and continue as the Executive Chairman of the Company and the Company’s board of directors (the “ Board ”) through 2022

Role change

Saumya Sutaria, M.D.

Chief Executive Officer

THC · TENET HEALTHCARE CORP

Effective: 2021-09-01
Filed: September 3, 2021, 7:59 PM ET

Saumya Sutaria, M.D., will be promoted from President and Chief Operating Officer of the Company to Chief Executive Officer of the Company, in each case effective as of September 1, 2021

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Ronald A. Rittenmeyer changed role as Executive Chairman at TENET HEALTHCARE CORP.

Action: transitioned
Role: Executive Chairman

Exact text from the filing

Ronald A. Rittenmeyer will transition from Chief Executive Officer of the Company and continue as the Executive Chairman of the Company and the Company’s board of directors (the “ Board ”) through 2022

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Saumya Sutaria, M.D. changed role as Chief Executive Officer at TENET HEALTHCARE CORP.

Action: promoted
Role: Chief Executive Officer

Exact text from the filing

Saumya Sutaria, M.D., will be promoted from President and Chief Operating Officer of the Company to Chief Executive Officer of the Company, in each case effective as of September 1, 2021

View on SEC.gov

TENET HEALTHCARE CORP filing history →

Source: SEC EDGAR

accession 0001193125-21-265516

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