Toby Cosgrove to step down as CEO of Cleveland Clinic

Posted at 11:18 AM, May 01, 2017
and last updated 2017-05-01 18:04:13-04

Changes are coming to Cleveland Clinic's leadership.

President and CEO of the Cleveland Clinic, Toby Cosgrove, announced to his staff that he will transition out of his executive role this year.

Cosgrove spent nearly 13 years in his role, and within that time Cleveland Clinic expanded nationally and internationally, with revenues going from $3.7 billion in 2004 to $8.5 billion in 2016.

Cosgrove tells News 5 "the reason I'm doing it is because I thought it was a good time to do it. That's as simple as that I'm not sick, I'm not tired, I just thought it was a good time for the organization."

When Cosgrove took over the helm of the Clinic in 2004 it's medical reputation was sound but the campus had more of a feel so far as architecture and style, Cosgrove changed that.

"Physical facilities in which you work make a difference in how you feel about your work and how you perform," he said. "And I also think for the patients to come here it makes a difference in sort of the environment therein. I think it speaks about who you are are and so we worked hard at this."

The Governance Committee asked Cosgrove to stay in an advisory role.

Keeping with the clinic's physician leadership model, the incoming CEO and president will be a physician and is expected to be chosen sometime in this year.