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Acadia Healthcare CEO removed

Acadia Healthcare Company Inc. said Joey Jacobs was removed as the company's CEO and chairman, effective Dec. 16.

The company elected Debbie Osteen to serve as CEO and Reeve Waud to act as chairman, effective Dec. 16.

Osteen was president of the behavioral health division of Universal Health Services Inc.

Waud has been a board member at the company since December 2005 and its lead director since April 2012. He is also the founder and managing partner at Waud Capital Partners LLC.

Franklin, Tenn.-based Acadia Healthcare Company operates inpatient psychiatric facilities, residential treatment centers, group homes, substance abuse facilities and outpatient behavioral healthcare facilities.