The Times West Virginian

Local News

September 24, 2013

Marquardt resigns as FGH’s president, CEO

Peggy Coster named as hospital’s interim president and CEO

FAIRMONT — Robert C. Marquardt, president and chief executive officer of Fairmont General Hospital, has resigned from his position.

Attorney Mike Garrison of Spilman Thomas & Battle PLLC, general counsel for FGH, provided a statement Monday on behalf of the hospital’s Board of Directors saying that Marquardt’s resignation is effective immediately.

Garrison said Peggy Coster has been named as the interim president and CEO of Fairmont General. Michael Lane, of Hammond Hanlon Camp LLC, will serve as the hospital’s chief restructuring officer.

In the statement, board chairman Mike Martin added comments regarding Marquardt’s resignation.

“The board would like to thank Mr. Marquardt for his service to the hospital and is excited to continue the important and urgent work of the Chapter 11 restructuring process with Peggy Coster and Mike Lane in positions of leadership,” Martin said. “The board is most interested in playing an active role in this restructuring process and working closely with our advisers to maintain a high-quality acute care hospital here in Marion County.”

Marquardt could not be reached for comment in time for this report.

His resignation comes just weeks after FGH declared Chapter 11 bankruptcy. Marquardt said earlier this month that there was hesitancy by the board to make the move, but he said the filing would enable the hospital to reorganize its debts so that it would be stronger financially and more valuable to possible strategic partners.

“It’s obviously a step we would have preferred not to have to take, but I think it is very clear that if we are going to go forward, we have to take this step,” he said following the announcement to declare bankruptcy.

The FGH Board of Directors unanimously accepted Marquardt’s resignation at its Monday meeting.

In other business:

• Dr. Robin Smith will fill the position of treasurer for the Board of Directors effective Oct. 1 when current treasurer Randy Elliott’s resignation becomes official.

• The board made bylaw revisions changing the minimum number of members of the Board of Directors from nine to five.

Email Kaylyn Christopher at kchristopher@timeswv.com or follow her on Twitter@KChristopherTWV.

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