Trios makes another swap of top leadership
Three weeks after announcing a new interim chief executive officer and four weeks after introducing a new chief financial officer, Trios Health has made another change to its top leadership team.
Scott Landrum has been appointed as the new interim CEO and Tom Marshall is the new CFO. Both are Quorum Health Resources employees.
The Tennessee-based consultants were hired by the Kennewick Public Hospital Board of Commissioners in 2016 to help analyze and manage the financial crisis that forced Trios into Chapter 9 bankruptcy last summer.
The two new executives are expected to lead Trios Health through the final stages of bankruptcy proceedings and a potential acquisition.
The Kennewick Public Hospital District Board of Commissioners made the appointments at its Feb. 22 meeting.
Landrum brings more than 30 years of executive experience in health care with much focused on bringing stability to hospitals and health systems in distress.
Marshall, a certified public accountant, has spent nearly four decades working in the health care industry on turnarounds, mergers and acquisitions and startups.
“Trios Health has made tremendous progress in its bankruptcy proceedings and talks with RCCH Healthcare Partners the last few weeks,” said Marvin Kinney, board president, in a statement. “These two gentlemen (Landrum and Marshall) are our ‘closers,’ having direct and relevant experience in finalizing bankruptcies and transactions. They will see us through this final chapter.”
Mark Armstrong, who has worked with Trios Health since the board hired Quorum, was named interim CEO earlier this month to bridge the gap between CraigCudworth’s departure and Landrum’s appointment.
Cudworth, also a Quorum employee, served in the CEO position for a year.
Trios is mum on why it opted to swap Cudworth for Armstrong saying only that Cudworth’s contract was up and the board wanted someone else in the role.
Armstrong will remain closely involved as Landrum transitions in and through Trios Health’s exit from bankruptcy and acquisition, according to a Trios news release.
Interim CFO Mike Rolph, who took over for Tony Sudduth in early February, unexpectedly departed Trios Health for “personal/familial reasons,” according to Trios. As a consultant, Marshall picked up where Rolph left off.
Sudduth, who worked at Trios for about four years, left for another job on Feb. 2.
“We appreciate the community’s continued support and understanding as we navigate bankruptcy and acquisition. There are a lot of moving parts, but things are lining up for a great outcome,” Kinney said in a news release. “It’s important that Tri-Citians know we remain committed to continuing to serve them well into the future.”
Trios is exploring a relationship with RCCH HealthCare Partners, a Tennessee-based health care system, and UW Medicine, but first must clear bankruptcy.