Business
HealthSouth appoints new CFO
NEWS IN BRIEF — Posted Sept. 27, 2004
HealthSouth has appointed a manufacturing executive to be its new chief financial officer, a position that had been temporarily staffed by an outside corporate turnaround specialist after a major accounting scandal at the outpatient services giant was revealed.
John Workman, 53, former chief executive of the can manufacturer U.S. Can Co., was tapped to take over the job on Sept. 20. He replaces Guy Sansone, managing director of the turnaround firm Alvarez & Marsal, who has held the post since March 2003.
Workman led U.S. Can for six years, also serving as CFO. The manufacturer had annual revenues of $837 million and was traded on the New York Stock Exchange. He also spent more than 14 years with Montgomery Ward.
He takes over the financial reigns at HealthSouth in the wake of a major accounting scandal in which federal prosecutors have accused the company of overstating earnings by more than $2.7 billion. At least 19 former HealthSouth executives have pleaded guilty to criminal charges since the scandal broke, including five former CFOs.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2004/09/27/bibf0927.htm.
