The CEO and CFO of Burlington, Mass.-based Tufts Medicine are both stepping down as the system enters the next phase of its financial turnaround.
Mike Dandorph plans to step down as president and CEO Sept. 30, according to an Aug. 4 internal memo from board Chair Phil Lembo that was shared with Becker’s. The Tufts Medicine Board has appointed COO Phil Okala acting president and CEO.
The system has made progress in strengthening its financial foundation over the past several years, Mr. Lembo said in the memo.
“While important work remains ahead, we have generated significant momentum and are entering the next phase of our financial turnaround with greater focus, discipline and purpose,” he said.
After “several thoughtful discussions about Tufts Medicine’s evolution as a system,” the board and Mr. Dandorph have decided that now is the right time to transition leadership to a new president and CEO “who can build on Tufts Medicine’s clinical, academic, operational and financial achievements, growth and transformation,” he said.
Separately, Andrew DeVoe, executive vice president and CFO, has chosen to leave the system, according to the memo. Greg Kruse, vice president of strategic operations and analytics intelligence, will assume responsibility for budget planning and oversee some financial services operations as the system plans to search for Mr. DeVoe’s successor in the coming weeks.
Mr. Dandorph joined the system as president and CEO in January 2020, and Mr. DeVoe had served as CFO since February 2024.
Mr. Lembo expressed gratitude to Mr. Dandorph for his work in building strategic partnerships, expanding care access and positioning the system for its next chapter “despite unprecedented financial challenges and policy changes shaping the industry,” and to Mr. DeVoe for his leadership in strengthening banking relationships, improving revenue cycle performance and overseeing debt refinancings.
The system recorded an operating loss of $31.8 million in the first quarter of 2026, compared to a loss of $28.9 million year over year, according to a Feb. 2 financial report. In a recent Becker’s CFO+Revenue Cycle Podcast episode, Mr. DeVoe said the system was on a $300 million loss run rate when he first joined, and turned a profit in April.
As part of the leadership transitions, Mark Gilchrist, MD, chair of the Tufts Medicine Integrated Network Board, will serve as a liaison to Mr. Okala and Erika Werner, MD, chief physician executive, to further align relationships across the enterprise.
Mr. Dandorph described his role over the past 6 1/2 years as a distinct privilege.
“I am proud of what we have accomplished together and am grateful to the amazing physicians, nurses, researchers, learners, staff and leaders whose commitment to our mission has inspired me every day,” he said in a statement shared with Becker’s. “I believe this transition is in the best interest and right time for Tufts Medicine.”
Mr. DeVoe told Becker’s he will also remain in his role until Sept. 30.
“Tufts Medicine is a remarkable system of extraordinary care givers delivering exceptional service every day,” he said. “I wish Tufts Medicine only the best as it navigates a very challenging environment.”
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