HealthSouth Corporation (NYSE: HLS) today announced the appointment of Douglas E. Coltharp as executive vice president and chief financial officer, effective May 6, 2010. Coltharp, who brings more than 20 years of senior financial and strategic planning experience to the position, will be responsible for all financial operations of the Company. This appointment concludes a comprehensive national search process that began at the end of 2009.<br /><br />"We are extremely pleased to welcome Doug as HealthSouth's new chief financial officer," said HealthSouth President and Chief Executive Officer Jay Grinney. "He is a talented finance professional with an impressive track record of exemplary performance and accomplishments. I am confident that Doug's strategic acumen, effective leadership style and broad experience will be a great addition to our executive management team. I would also like to thank Ed Fay, senior vice president - finance and treasurer, and Andy Price, senior vice president - chief accounting officer, for their valuable leadership during this transition period."<br /><br />"I am very excited to have the opportunity to join HealthSouth and be a part of an organization that plays such an important role in the delivery of quality rehabilitation services and care to so many patients across the country," said Coltharp. "I look forward to building on HealthSouth's momentum by working to support the Company's execution and achievement of its strategic objectives, furthering the development of new growth opportunities and delivering value for HealthSouth shareholders."<br /><br />Since May 2007, Coltharp has been a partner at Arlington Capital Advisors (ACA) and Arlington Investment Partners, LLC (AIP), a boutique investment banking firm and private equity firm. Prior to that, Coltharp served 11 years as executive vice president and chief financial officer for Saks Incorporated. In this role, he was responsible for recapitalizing the company and guiding it through a series of acquisitions and organic growth strategies that transformed it from a small cap, regional department store operator to a Fortune 1000 national retailer.<br /><br />Coltharp began his career in 1987 at Nations Bank, N.A. (now part of Bank of America) and rose to become senior vice president and head of Southeast Corporate Banking. During this time, Coltharp advised Fortune 100 companies on capital raising and other corporate financial matters.<br /><br />Coltharp graduated magna cum laude from Lehigh University with a bachelor's degree in Finance and Economics and earned his master's in Business Administration with concentrations in Finance and Strategic Planning from the Wharton School, University of Pennsylvania.<br /><br />Coltharp currently serves as a member of the Board of Directors of Ares Capital Corporation, Under Armour, Inc. and Rue 21, Inc.