Reeve Waud and Acadia Healthcare Announce Debbie Osteen’s Return as CEO

Debbie Osteen is back at the helm of Acadia Healthcare. The company confirmed in January 2026 that she’d take over as chief executive right away, a job she had held once before, from December 2018 through March 2022. Chris Hunter, CEO since April 2022, left the company and its board.

Reeve Waud, who chairs the Acadia Healthcare board, tied the decision to Osteen’s long history with the business. He called her “a mission-driven executive with a commitment to patients who helped transform Acadia into the leading provider of behavioral healthcare in the U.S.”.

A Familiar Leader Returns

Osteen knows the place well. She ran Acadia Healthcare for more than three years the first time around, and before that she led the behavioral health division at Universal Health Services. She won’t spend months learning the basics that most incoming chief executives have to absorb.

The board also kept its options open. Reeve Waud said the search for a long-term successor would continue while Osteen leads, a sign the directors weren’t rushing things.

What the Move Says About Acadia Healthcare

Bringing back a known operator points to a preference for continuity. Acadia Healthcare runs roughly 280 behavioral healthcare facilities across 40 states and Puerto Rico. A company that size rewards a leader who already knows its people and its systems.

Reeve Waud’s involvement adds weight. He helped start Acadia two decades ago and now chairs its board, so his endorsement carries the view of someone who watched the company grow from nothing. Staff and investors get a chief executive whose Acadia Healthcare record is already on the books.