The CEO of Nashville-based Hospital Corporation of America will step aside at the end of the year. Richard Bracken joined HCA three decades ago, and despite handing off his role as CEO he’ll stay on as chairman of the board.
Bracken first became CEO as well as chairman at HCA in 2009. Replacing him in the chief executive role this winter will be Milton Johnson, another top official with the company, which owns more than a hundred hospitals.
In a statement HCA says the upcoming transition is in line with the company’s succession plan, and Bracken calls Johnson “ideally suited” for the job. Last year Bracken reportedly earned more than $40 million, mostly in stock options.