Issue link: https://beckershealthcare.uberflip.com/i/1529631
19 CEO / STRATEGY Why are more CFOs becoming CEOs? By Kristin Kuchno T he CFO-to-CEO trend is growing in popularity, partially because of the current economic environment, Fortune reported Oct. 16. A leader who can navigate an unsteady economic climate is desirable, and the role of the CFO itself has entered the forefront of organizational strategy, Fortune reported. "CFOs have become a real strategic partner to the CEO, and I would call them 'truth-tellers,'" Shawn Cole, president of executive search firm Cowen Partners, told Fortune. In healthcare, about 6% of CEOs come directly from CFO positions, according to a recent Crist Kolder Associates report. While the number of CFO promotions to CEO decreased in the first half of 2024, the figure remains higher than it was a decade ago, at 7.1% of CEOs, compared to 6.2% in 2014, the report said. "CFOs have a unique vantage point since work crosses all segments of the company," Scott Simmons of Crist Kolder Associates told Fortune. CFOs looking to pivot to a CEO role should possess emotional intelligence and effective communication skills, and they could benefit from a track record of affecting operational and strategic activities in their current role, Fortune reported. Becker's has reported on multiple CFO-to-CEO transitions in hospitals and health systems in 2024, including Deb Mohesky, who was appointed CEO of CommonSpirit Health's Longmont (Colo.) United Hospital, and Joe Wanner, who took the helm at Bartlett Regional Hospital in Juneau, Alaska. n Henrico Doctors' Hospital (Richmond, Va.): 766 beds Ryan Jensen has served as CEO since 2019, succeeding Will Wagnon. North Shore Medical Center (Miami): 748 beds omas Dunning has served as president since 2022. He was previously CEO of a surgical hospital. HCA Florida JFK Hospital (Atlantis, Fla.): 666 beds Ken West has served as CEO since June 2023. Prior to that, he was CEO of Regional Medical Center of San Jose in California. St. David's Medical Center (Austin, Texas): 625 beds Todd Steward has served as CEO since 2019. Prior to that, he was CEO of St. David's South Austin (Texas) Medical Center HCA Houston Healthcare Kingwood (Texas): 619 beds John Corbeil has served as CEO since 2019. Before taking on that role, he was COO of Medical City Fort Worth (Texas). Medical City Plano (Texas): 613 beds Ben Coogan has served as CEO since June 2023. He was previously CEO of Medical City Fort Worth.. Las Palmas Medical Center (El Paso, Texas): 605 beds Alejandro Romero has served as CEO since May. He was previously COO of Del Sol Medical Center in El Paso, Texas. Southern California Hospital at Hollywood (Calif.): 598 beds Luis Angel has served as hospital administrator since 2020. Brookwood Baptist Medical Center (Birmingham, Ala.): 595 beds Jeremy Clark has served as CEO since 2021, succeeding Tim Puthoff, who resigned. Wesley Medical Center (Wichita, Kan.): 568 beds William Voloch has served as CEO since 2015. Prior to that, he was the hospital's COO. South Texas Health System McAllen (Texas): 542 beds Emma Maria Montes-Ewing has served as CEO since January. She previously served as CEO of Doctors Hospital of Laredo (Texas). HCA Houston Healthcare Clear Lake (Webster, Texas): 527 beds Todd Caliva has served as CEO since 2016, previously leading West Houston Medical Center as CEO. n Millennials to outnumber Gen X in leadership: LinkedIn By Kristin Kuchno Millennials are on pace to outnumber Generation X in leadership roles by 2025, according to a September report from LinkedIn. Millennials — those born between 1981 and 1996 — accounted for 44.8% of C-suite- or vice president-level leaders in 2023, according to LinkedIn's "State of the C-Suite and Executives Report." e report used profile data to study executives working at S&P 500 and venture- backed U.S. "unicorn" organizations. Gen X, meanwhile, made up 45.7% of leaders in 2023. In 2016, Millennials and Gen X accounted for 36.9% and 52.3% of leadership, respectively. Gen X held the average age at hire for CEOs in 2024 at 53.5 years old, according to a recent report on C-suite executive turnover. n