CEO, CFO exits mark early days of August

Three days into August, four health system CEOs — and two CFOs — have shared plans to leave their roles. 

A good chunk of the exits are retirements that will take effect in 2024. Keith Page will retire as CEO from Maryville, Ill.-based Anderson Healthcare in February; Richard Vath, MD, will retire from Baton Rouge, La.-based Franciscan Missionaries of Our Lady Health System in June; and Mark Keroack, MD, will retire as CEO of Springfield, Mass.-based Baystate Health next July. 

They're already sorting out succession plans, with Anderson promoting its chief operating officer to the helm and the others forming executive search committees. 

David Keith is also retiring as president and CEO of Bartlett Regional Hospital in Juneau, Alaska, a decision he announced shortly after CFO Sam Muse tendered his own resignation for family reasons.

Mr. Muse joined two other early-August resignations: Gerald Oetzel, CFO of the recently combined Wisconsin-based Bellin Gundersen Health system, and Gina Temple, PhD, RN, CEO of HCA Florida Bayonet Point Hospital, both stepped down from their roles. 

Up to this point, it's been a heavy year for CEO turnover. Challenger, Gray & Christmas reported 907 CEO exits across all sectors in the first six months of 2023 — a substantial increase from 774 CEO departures in the first half of 2022.

June tends to be the slowest month for CEO turnover, as it marks the end of many companies' fiscal years, according to Andrew Challenger, workplace expert and the firm's senior vice president. 

But as a new fiscal year gains momentum — and the calendar year breaks beyond its halfway mark — more companies are likely turning eyes to the future. 

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