Healthcare CFOs' tenures last an average of 4.7 years, according to a recent report from Crist Kolder Associates. Mike Buongiorno served as the CFO of Radnor, Pa.-based Main Line Health for more than five times that average.
Mr. Buongiorno is retiring after more than 25 years on the job. He joined the health system as a regional CFO in 1994 before being promoted to executive vice president and CFO in 1997. His time also included a two-year stint as interim CEO from 2003 to 2005.
He told Becker's the secret to his longevity starts with Main Line Health's board, senior leadership and organizational culture.
"Main Line Health has given me all the tools and support I needed through the years to partner in embracing our strategic plan and in working to deliver safe, high-quality, equitable and affordable care along with top-level financial stewardship," he said.
The health system recently named Leigh Ehrlich to be his sucessor. She begins Dec. 1. Mr. Buongiorno will work alongside her through the end of 2023 to assist with the transition.