Mayo Clinic CEO Noseworthy to retire
Saying the time is right to transition to new leadership, Dr. John Noseworthy is stepping down
at year-end as
CEO of Mayo Clinic.
Noseworthy has been with the Rochester, Minn.-based health system for 28 years, serving the past nine as chief executive. The health system plans to identify a new leader by early fall.
Noseworthy told Modern Healthcare that Mayo Clinic is committed to a rotational leadership tradition, with a new president or CEO coming in every seven to 10 years.
“Mayo Clinic is in a very strong position,” he said. “We have clarity and alignment on our future direction, and we have a cadre of proven Mayo Clinic physicians who are ready to lead.”
The announcement was part of Mayo’s 2017 annual report. The renowned research institution finished the year with $707 million in income from operations on revenue of $12 billion, up from a $475 million income from operations last year on revenue of $11 billion.
The report also highlighted
$11 million in local donations by the system, including housing support, job training services, mental health and wellness programs in Minnesota and Wisconsin. Mayo invested $714 million in capital projects, including implementation of a single, integrated electronic health record and revenue cycle management system.