John L. Brooks III has stepped down as president, CEO and member of the board of trustees at Boston-based Joslin Diabetes Center, the Harvard-affiliated diabetes research and treatment clinic.
Here are five things to know about Mr. Brooks and his departure.
1. Joslin's board of trustees gave no reason for Mr. Brooks's departure, which took effect Sept. 8. They only said that Eliot M. Lurier, CFO and treasurer, will serve as interim CEO until the board announces a new CEO.
2. Mr. Brooks's departure comes as Joslin faces financial challenges. Large hospital systems, which continue to get bigger, increasingly desire to keep patients in their networks instead of referring them to other clinics such as nonprofit Joslin, according to The Boston Globe. In addition, Joslin's research funding from the National Institutes of Health has dropped to about $12.5 million this year from $17.6 million in 2010, more sharply than at other institutions, The Boston Globe notes.
3. Mr. Brooks, a former entrepreneur and venture capitalist specializing in life sciences, was named CEO in 2011, becoming Joslin's third CEO in two years.
4. During his tenure as CEO, he pushed Joslin to commercialize more of its diabetes research, according to The Boston Globe.
5. In a statement, Ralph James, chairman of the Joslin board of trustees, expressed gratitude for Mr. Brooks's service. "On behalf of everyone associated with the Joslin Diabetes Center, we thank John for his incredible commitment to preventing, treating and curing diabetes," Mr. James said. "He has been peerless in his dedication to help Joslin make real and lasting progress in the fight to cure diabetes."
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