Retiring hospital and health system CEOs have recently stressed the importance of succession planning in conversations with Becker's.
Here are what three CEOs, who are set to retire in 2025, shared about contributing to a successful exit from their roles.
1. Lack of a strict timeline
Ron Werft, who will retire in 2025 as president and CEO of Santa Barbara, Calif.-based Cottage Health after 24 years in the role, did not provide a specific end date. Flexibility in deciding his last day at the helm has been key to encouraging a smooth transition, he said.
"The board has total flexibility in doing this search, and I will be here when the next CEO takes this position and I will be available to assist as much as is needed," Mr. Werft said. "Whether that's a day or two or a month or two, I will totally follow the direction of the next person in this office."
2. Commitment to finalizing projects
Guy Medaglia, president and CEO of Chicago-based St. Anthony Hospital, said he is committed to working with the next leader in finalizing the construction of the hospital's new location.
He will also see through the conclusion of its federal lawsuit against the state of Illinois' Medicaid reimbursement process, he said.
3. Mentorship and initiatives in the organization
Peoria, Ill.-based OSF HealthCare's succession planning program has allowed Bob Anderson to mentor up-and-coming leaders.
As retiring central region CEO of the system, Mr. Anderson said the program has allowed him to not only teach others about leadership, but also helped him reflect on what it means to lead a team.
4. Stakeholder alignment
Another crucial aspect of Mr. Werft's succession planning is that he solicited input from more than 100 people, including medical staff and community members, on what Cottage Health needs in its next leader, he said.