Hanger CEO Thomas F. Kirk announces retirement

Thomas F. Kirk, chief executive officer with Hanger Orthopedic Group, Inc. announced his retirement effective Dec. 31. Kirk has been with Hanger for 10 years.

  Peter W. Thomas
  Thomas F. Kirk

Kirk joined Hanger in January 2002 as president and chief operating officer and became chief executive officer in March 2008. Under his leadership, sales grew from $640 million to over $920 million, adjusted earnings before interest, taxes, depreciation, and amortization grew from $84 million to $150 million and stock price rose from $9.45 to $21.25 per share, according to a company press release.

“I was fortunate to have led the organization during transformative and complex times, both at Hanger and in health care,” Kirk stated in the release. “The growth and operational success we achieved would certainly not have been possible without the wise counsel of our board of directors, the unwavering dedication of our employees and the confidence of our patients.”

He will assume the position of vice chairman until his retirement date and will remain a member of the board of directors. Vinit K. Asar, president and chief operating officer, has been appointed to succeed Kirk and has joined the board of directors.

“I am honored by the board’s election and appreciative of Tom’s partnership and mentoring over these past years,” Asar stated in the release. “It is my privilege to build on Tom’s legacy and lead an organization with a 150-year history and a clear vision dedicated to enhancing human physical capability.”

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