After 13 years in charge of the Cleveland Clinic, Toby Cosgrove, MD, has announced he’ll be transitioning out of his CEO role by the end of the year.
“It is an honor and a privilege to be a part of an extraordinary and forward-thinking organization that puts patients at the center of everything we do,” Cosgrove said in a statement. “Cleveland Clinic’s world-class reputation of clinical excellence, innovation, medical education and research was created and will be maintained by the truly dedicated caregivers who work tirelessly to provide the best care to our patients.”
The press release announcing his departure praised Cosgrove for overseeing a period of expansion for Cleveland Clinic, like adding new cancer and vascular centers and international centers like its planned London facility. Since he took over in 2004, the system’s revenue has grown from $3.7 billion to $8.5 billion and total visits increased from 2.8 million to 7.1 million.
Cosgrove has been asked to stay on in an advisory role, though what that will entail “remains to be seen,” he said in an interview with the Cleveland Plain-Dealer. He also confirmed he’ll be retaining his position as an advisor to the administration of President Donald Trump.
As for who will succeed him, Cosgrove said that will be the decision of the clinic’s search committee, composed of its board of directors and physician members of its board of governors. No firm timetable for a transition was announced, but the new CEO is expected to be named by the end of 2017.
“The goal of any leader is to leave an institution better than you found it. Without a doubt, Toby has done that,” said board chairman Bob Rich.