Cleveland Clinic CEO Toby Cosgrove To Step Down

CLEVELAND, OH — Toby Cosgrove is stepping down from the role of Cleveland Clinic CEO and president. He plans to transition out of the role before 2018, according to a statement from the Cleveland Clinic.

The hospital system announced Cosgrove's decision on Monday. He has served as the clinic's lead administrator for nearly 13 years.

The Governance Committee of the Cleveland Clinic has asked Cosgrove to continue in an advisory role. Under Cosgrove's leadership, the hospital system has seen revenue grow from $3.7 billion in 2004 to $8.5 billion in 2016.

The Cleveland Clinic is also Ohio's largest employer, with more than 50,000 staffers. During Cosgrove's tenure, the number of physician-scientists working for the Cleveland Clinic nearly doubled, jumping from 1,800 to 3,400. The total number of patient visits increased from 2.8 million to 7.1 million, and research funding increased from $121 million to $260 million.

“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.”

Cosgrove's successor will be appointed by the board of directors and board of governors. The process should be completed before 2018. The new president and CEO will be a practicing physician, the hospital system said.

Last year was a politically eventful one for Cosgrove. He was selected to serve as one of 16 CEOs on President Donald Trump's Strategic and Policy Forum. He was also reportedly interviewed for and turned down leadership of the Department of Veterans Affair.

“The goal of any leader is to leave an institution better than you found it. Without a doubt, Toby has done that,” said Cleveland Clinic Board of Directors Chairman Bob Rich in a press release. “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.”

Photo from the Cleveland Clinic