Piedmont Healthcare CEO Tim Stack Leaves Due to Illness
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Piedmont Healthcare CEO Tim Stack - The man known to have captained the five-hospital health system for more than a decade is now reported to be ill. Tim Stack, the 59 year-old CEO of Piedmont Healthcare has unexpectedly announced a leave of medical absence due to illness, reports the Atlanta Business Chronicle. Piedmont spokesman Matt Gove has declined to disclose Stack's condition or give insight on when he is expected back at work. After becoming President in 2001, Stack helped expand the business from $330 million in annual revenue to over $1 billion. During his tenure, Piedmont has expanded the liver transplant program, restructured the board of directors, purchased land for a new hospital, and developed the Piedmont Heart Institute. Click Here to Read the Full Article |
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INSURANCE CONNECTION A question still remains at large: what if Mr. Stack is unable to return to his reputable occupation with Piedmont Healthcare? Insuring human capital risk is a critical component to protecting any organization's value – especially in a situation like this when business is booming. While it’s standard for organizations to insure their tangible assets, for instance the hospital building, insurance advisors need to recognize the damage the loss of human capital due to a disability can cause to the organization. Presenting Key Person Disability Coverage is a prudent solution to mitigate this risk. |
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