After more than three decades at the helm of Houston-based Texas Children's, Mark Wallace will retire from his role as CEO on Oct. 4.
Mr. Wallace has served as CEO of the pediatric health system since 1989, leading through numerous periods of expansion, according to a Sept. 12 news release. Most recently, in February, he oversaw the opening of a new, $485 million hospital in North Austin, Texas. Debra Sukin, PhD, will take over as president and CEO on Oct. 5. She stepped in as president in January.
"In my 34 years of leading Texas Children's, I've helped to build the nation's largest pediatric and women's healthcare enterprise that is both sturdy and innovative," Mr. Wallace told Becker's in a January interview. "The Texas Children's system is large and decentralized enough to provide the very best primary and subspecialty care in the world. Even better is knowing that we are nowhere near finished growing and expanding to meet the needs of even more children and women across the globe, and it is truly a privilege being able to watch it unfold."
Texas Children's is the nation's largest children's hospital, with 120 locations across Texas and globally, most of which are in Houston.
The system has faced a rocky year. In August, Texas Children's confirmed plans to lay off 1,000 employees amid rising operating losses, including front-line healthcare workers and those in leadership positions. The health system's chief human resources officer said the layoffs followed a series of other steps Texas Children's took to mitigate financial challenges, such as reducing the size of its executive ranks by about 10% and cutting their pay.