Dr. Toby Cosgrove, president and chief executive of the Cleveland Clinic for nearly 13 years, announced Monday morning that he will leave his job as the health system’s leader by the end of the year.
The clinic’s Governance Committee has asked Cosgrove to continue on in an advisory role.
Cosgrove, 76, joined the clinic in 1975 and was a cardiac surgeon for 30 years.
Under his leadership, the clinic has grown into an $8 billion health system with multiple locations in Ohio, Florida, Nevada, Canada, Abu Dhabi, and, in 2020, London.
The clinic’s network of community hospitals includes Akron General, acquired in 2014, and Medina Hospital, which became part of the clinic in 2009.
Cleveland Clinic Akron General is now the health system’s second-largest hospital.
Cosgrove two weeks ago spoke to hundreds at the John S. Knight Convention Center in his first community report in Akron, telling leaders that the clinic was “here in Akron to stay in Akron, to invest in Akron and to try to make you as much a part of the Cleveland Clinic health care system as it’s possible to do.”
In a short phone interview on Monday, Cosgrove reiterated Akron’s importance to the clinic.
Cosgrove said his appearance in Akron wasn’t coordinated with his plans to leave his leadership role, but part of presentations he does throughout the clinic’s network.
“We think [Akron] has enormous potential and will continue to grow and we’re going to continue to invest in it. This doesn’t signal any change in the strategy for us in Akron whatsoever. This is not based on Toby Cosgrove,” he said.
Cosgrove said his future plans include helping the clinic in “any way that is appropriate for me going forward.” He said he also plans to stay on the White House Strategic and Policy Forum. He is one of about 15 CEOs on the panel. Cosgrove has been consulted by successive presidential administrations. He also served on the Veterans Administration Commission on Care in 2015.
Dr. Brian Harte, president of Akron General, said Cosgrove’s legacy will include three things:
“He absolutely messaged and devised this mantra of patients first. That’s our North Star. That’s in our DNA,” said Harte in a phone interview. Secondly, Cosgrove saw the clinic as an international organization and third, he worked toward clinical integration, bringing “a seamless care experience across different sites.”
Cosgrove has also championed reinvestment into the health system and the community and that’s evident in Akron with the $49 million new Emergency Room being built, which will triple the size of the existing ER downtown, said Harte.
Harte also said Cosgrove developed physician leaders, including himself.
Dr. Joseph Lahorra, Akron General chief of cardiac surgery, worked under Cosgrove when he was the chair of the Cleveland main campus’ heart center and as CEO.
“He was a very prolific and innovative cardiac surgeon, who had a lot to do with minimally invasive techniques in mitral valve surgeries. He will always be known as a great surgeon who contributed a lot to our field,” said Lahorra.
As chairman and as CEO, “his enthusiasm for the field and innovation is infectious. He’s a very accessible leader and has always given me very wise counsel,” Lahorra said.
The clinic said over Cosgrove’s tenure, the Cleveland Clinic’s expansion locally, nationally, and internationally has positioned the institution for a strong future as its revenues have grown from $3.7 billion in 2004 to $8.5 billion in 2016. It has become one of Ohio’s largest employers with more than 50,000 caregivers. Akron General employs 5,800.
The Cleveland Clinic was ranked No. 2 in the nation last year by U.S. News & World Report.
“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 press release. “Cleveland Clinic’s world-class reputation of clinical excellence, innovation, medical education and research was created and will be maintained by the truly dedicated caregivers who work tirelessly to provide the best care to our patients.”
His successor will be jointly selected by the Board of Directors and Board of Governors. The process is expected to be concluded this year.
In a news release, Cleveland Clinic Board of Directors Chairman Bob Rich said that Cosgrove is leaving the clinic a better institution than when he took over leadership.
“Our world-class reputation has only grown over the past 13 years, as he has led Cleveland Clinic through a period of dramatic growth and worldwide expansion,” Rich said.
Betty Lin-Fisher can be reached at 330-996-3724 or blinfisher@thebeaconjournal.com. Follow her @blinfisherABJ on Twitter or www.facebook.com/BettyLinFisherABJ and see all her stories at www.ohio.com/betty