CFOs today are strategic partners to CEOs and are involved in virtually every aspect of a hospital or health system.
A CFO's financial expertise can be a particularly valuable asset for those seeking a move to the corner office of a CEO, but it is a "completely different job" with many unique challenges, three hospital executives who transitioned from CFOs to CEOs, told Becker's Hospital Review.
Here are three CFOs taking on CEO or interim CEO positions:
1. Michael Mewhirter, CFO of Kettering (Ohio) Health since April 2020, was appointed interim CEO of the 14-hospital system. The news came after Fred Manchur — who served as CEO of Kettering Health for the last 12 years — announced he will take a leave of absence before retiring Dec. 31. Mr. Mewhirter will serve as interim CEO until a permanent CEO is appointed.
2. Reedsport, Ore.-based Lower Umpqua Hospital District appointed John Chivers, its former CFO, to the CEO post in a permanent capacity. Mr. Chivers has served the hospital district as interim CEO. He has more than 34 years of experience in healthcare administration, 11 of which were spent in Lower Umpqua Hospital District.
3. Teresa Donohue, current CFO of Springville, N.Y.-based Bertrand Chaffee Hospital, is transitioning into the CEO role. Ms. Donohue has served as CFO since 2009. She succeeds Nils Gunnersen, who served 14 years as CEO and will stay on board during the transition process.