HCA Holdings announced Monday that it is overhauling a good part of its board of directors, with independent directors Nancy-Ann DeParle, Bob Dennis and Jack Rowe replacing four directors appointed by the private equity firms that until last year owned a majority of the company.
Stepping down from the board are John Connaughton and Christopher Gordon of Bain Capital and Kenneth Freeman and James Momtazee of Kohlberg Kravis Roberts. With the addition of DeParle, Dennis and Rowe (pictured here), the size of the board has been reset to 13. Bain and KKR each still have the right to appoint one director.
DeParle is a founding partner of Consonance Capital Partners, a private equity firm, and well known to many in the Nashville area as a former commissioner of the Tennessee Department of Human Services. Most recently, she served in the White House, first as counselor to the president and director of the White House Office of Health Reform and later as assistant to the president and deputy chief of staff for policy. DeParle will serve on the HCA board's patient safety and quality of care committee.
Dennis has been president and CEO since 2008 and chairman since 2010 of locally based footwear and hat retailer Genesco. He joined the company in 2005, when Genesco bought Hat World, where he was CEO, and will serve on the HCA board's nominating and corporate governance committee.
Rowe has been a professor in the department of health policy and management at the Columbia University Mailman School of Public Health since 2006. Previously, he served as chairman and CEO of Aetna. Rowe also will serve on the patient safety and quality of care committee of the HCA board.
"Our new directors will bring diverse perspectives and experiences which will be of great value to our organization," said Richard Bracken, chairman of HCA.