Running head: HEALTHSOUTH: THE RISE AND FALL
HealthSouth: The Rise And Fall
Abstract
Richard Scrushy (Scrushy) had a vision and was driven by his leadership and entrepreneurial abilities. Scrushy was the mastermind and major creator of HealthSouth Corporation (HealthSouth). Scrushy served as chairman and Chief Executive Officer (CEO) of the corporation for more than 20 years. A Biographical Sketch: Richard Scrushy and HealthSouth. Retrieved March 22, 2005, from the World Wide Web: http://www.richardscrushy.com/biography.aspx. The U.S. Securities and Exchange Commission charged HealthSouth Corporation and CEO Richard Scrushy with fraud, alleging the earnings of HealthSouth have been extremely overstated since approximately 1999. Bassing, T. (2003, March 19). SEC charges Scrushy; 41.4B civil fraud alleged. Birmingham Business Journal. Retrieved March 23, 2005, from World Wide Web: http://birmingham.bizjournals.com/birmingham/stories/2003/03/17/daily30.html?t=printable. Scrushy has been replaced Jay Grinney (Grinney) who recently accepted the position of President and CEO of HealthSouth. Grinney has a vision for HealthSouth and is confident he will succeed in restoring the corporation to its original status of leadership in the world of healthcare.
HealthSouth: The Rise and Fall
Richard Scrushy (Scrushy) was born in Selma, Alabama in 1952. He had two siblings which consisted of an older sister and a younger brother. Scrushy was raised by two working parents and the family attended a local Methodist Church located in Selma. As a young boy, Richard was always able to find a job ...