- Associated Press - Thursday, October 27, 2016

BIRMINGHAM, Ala. (AP) - HealthSouth Corp.’s CEO Jay Grinney will retire at year’s end.

The company, in a statement Thursday, said Grinney, 65, became the company’s chief executive in 2004 during a critical time - the scandal of Richard Scrushy, who was fired in 2003 after regulators charged him with accounting fraud.

“Jay joined HealthSouth as President and CEO at a critical time in the company’s history and led HealthSouth through a successful turnaround and eventual repositioning as one of the nation’s leading providers of post-acute services,” Leo Higdon Jr., Chairman of HealthSouth’s Board of Directors, said in a statement.

Grinney said his pending retirement is bittersweet.

“I put in 12 years of blood, sweat and tears, and I’m very proud of what we have accomplished,” Grinney told AL.com (https://bit.ly/2eB0kEp). “I always wanted to be put in the position to leave and retire on a very strong note, and I think we’re at that point.”

Executive Vice President and Chief Operating Officer, Mark Tarr, 55, will succeed as President, CEO and board member when Grinney retires. Grinney will serve as a consultant to HealthSouth until March 31, 2017.

“It’s thriving, there’s no question,” Grinney said. “We turned it around, we re-positioned it, we put it in a strong growth mode, and I feel very good about that. Our strategy is set, the cash flow is strong, and we’re investing in growth. I cannot envision a better scenario to step aside from.”

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