Two hospitals share financial officer

The chief financial officer for the city’s hospital now holds roles at both Peterborough Regional Health Centre and Lindsay’s

Ross Memorial Hospital.

Kate Farnell is the new vicepresident and CFO of Ross Memorial. She started on Monday.

The Queen’s University graduate is also the CFO and associate vice president of PRHC, a role she’s held since April. Before that, Farnell worked as the director of finance and controller at PRHC, where she oversaw financial reporting, budget processes, payroll, accounts payable, accounts receivable and treasury duties.

In her new role, Farnell will provide financial leadership and oversight for both hospitals.

She’s replacing Ross Memorial’s interim VP/CFO Chris Eivers. He stepped in after former long-time VP/CFO Leo Boyle died in October.

Dr. Bert Lauwers, Ross Memorial’s president and CEO, said the hospital is happy to welcome Farnell to the team.

“Kate’s expertise and experience will complement the talents of our currently leadership team and help us navigate the fiscal challenges we face,” Lauwers stated in a release.

The new shared role will also help further strengthen RMH’s close partnership with PRHC, Lauwers wrote. RHM has been integrating leadership roles for several years, which has optimized shared services while reducing costs.

Farnell is a chartered accountant with a master’s degree in business and a decade of financial management experience in the public and private sectors.