Dive Brief:
- Cone Health President and Chief Executive Officer Mary Jo Cagle will step down from her position due to a serious family matter, the health system said Wednesday. Her last day will be May 31.
- Cone, which is part of Kaiser Permanente’s Risant Health, will begin a nationwide search for Cagle’s replacement.
- Meanwhile, Bernard Sherry, Cone Health’s interim chief operating officer, will step in as interim CEO.
Dive Insight:
The executive departs Cone less than a year after the Greensboro, North Carolina-based health system was acquired by Risant Health, Kaiser’s nonprofit health system formed to acquire and operate nonprofit health systems.
Cagle was the first woman to serve as CEO of Cone, overseeing five hospitals and more than 13,000 employees. She shepherded the system through the COVID-19 pandemic and was a “driving force” behind the Risant Health deal, according to a press release.
“It has been a joy and privilege to lead this system. I’m incredibly proud of all we’ve accomplished to increase access to care, enhance patient safety and care quality,” Cagle said in a statement.
Upon departure, Sherry will temporarily take the reins. Sherry has more than 30 years of senior leadership experience and has held posts at Ascension Wisconsin and Saint Thomas Health, now known as Ascension Saint Thomas.
Cagle’s permanent replacement will come aboard as Cone seeks to grow.
When Risant acquired Cone Health, the system pledged to invest at least $1.4 billion into Cone over the next five years to develop Cone facilities and integrate the system into Risant. It also plans to invest up to $300 million more over 10 years to support Cone’s growth.
Cone Health reported $364.8 million in excess of revenue over expenses for its 2024 fiscal year which ended Sept. 30, an increase compared with the $197.6 million reported in 2023.
