Cleveland Clinic CEO Cosgrove to step down by year-end
Dr. Toby Cosgrove, the longtime CEO of the Cleveland Clinic, announced last week he will be stepping down by the end of this year.
A search for his replacement has begun as Cosgrove remains at the clinic in an advisory role, according to a news release. The clinic also said his successor will be a practicing physician, keeping up with the system’s long history as a physicianled institution.
“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.
During his nearly 13 years at the helm, Cosgrove led the prestigious institution through widespread expansion.
Under his leadership, revenue at the clinic grew from $3.7 billion in 2004 to $8.5 billion in 2016. He oversaw growth by establishing multiple new locations nationwide and internationally, including setting up services in Canada and Abu Dhabi.
The number of physician-scientists nearly doubled under his leadership from 1,800 to 3,400. And total visits to the clinic increased from 2.8 million to 7.1 million.
Cosgrove’s tenure has also been marred with controversy, including recent forays into the political world. Cosgrove recently received some backlash because of his ties to the Trump administration. He was among prospective Cabinet picks who met with Presidentelect Donald Trump in December about leading the Veterans Affairs Department.
In February, the Cleveland Clinic refused to cancel a fundraiser at Trump’s resort in Florida. After Trump signed an executive order that banned one of its doctors from re-entering the U.S., hundreds of medical students and doctors signed a letter asking the clinic to cancel the fundraiser.