SANTA BARBARA, Calif. - April 10, 2002 - Tenet Healthcare Corporation (NYSE: THC) today announced that Tenet Chairman and Chief Executive Officer Jeffrey C. Barbakow has joined the board of directors of the U.S. Chamber of Commerce.
The board of directors is the principal governing and policymaking body of the U.S. Chamber of Commerce, the world’s largest business federation.
"I am honored to join the Chamber board," said Barbakow, who will serve a two-year term. "I look forward to offering my perspective on the many important initiatives that the Chamber has under way."
Under Mr. Barbakow’s leadership since 1993, Tenet’s annual revenues have grown from approximately $3.8 billion to more than $12 billion in fiscal 2001. Its market capitalization has grown from just over $1 billion in 1993 to more than $22 billion today. Mr. Barbakow recently was recognized as one of the Top 25 Managers of the Year for 2001 by Business Week magazine.
Mr. Barbakow, 58, holds a bachelor’s of science degree in industrial design from San Jose State University and a master’s of business administration degree from the University of Southern California. He is a member of the CEO Board of Advisors of the USC Marshall School of Business and the Chancellor’s Council at the University of California at Santa Barbara.
Founded in 1912, the U.S. Chamber of Commerce represents more than three million businesses and organizations of every size, sector and region.
Tenet Healthcare, through its subsidiaries, owns and operates 116 acute care hospitals with 28,677 beds and numerous related health care services. Its hospitals and subsidiaries employ approximately 113,750 people serving communities in 17 states. Tenet’s name reflects its core business philosophy: the importance of shared values among partners - including employees, physicians, insurers and communities - in providing a full spectrum of health care. Tenet can be found on the World Wide Web at www.tenethealth.com.
Certain statements in this release may constitute forward-looking statements. They are based on management’s current expectations and could be affected by numerous factors and are subject to various risks and uncertainties. Certain of those risks and uncertainties are discussed in the Company’s filings with the Securities and Exchange Commission, including the Company’s annual report on Form 10-K and quarterly reports on Form 10-Q. Do not rely on any forward-looking statement, as we cannot predict or control many of the factors that ultimately may affect our ability to achieve the results estimated. We make no promise to update any forward-looking statement, whether as a result of changes in underlying factors, new information, future events or otherwise.