Mayo Clinic CEO Dr. John Noseworthy will step down at the end of this year after 28 years with the clinic, including nine as president and CEO.
He has led Mayo through challenging times that included the Great Recession, skyrocketing health care costs, the Affordable Care Act and the launch of the ambitious economic development project known as the Destination Medical Center.
Noseworthy said he was following Mayo's tradition of leading through change.
"Great institutions should get stronger at a time of great change because there are opportunities there," he said. "And we've seized those opportunities, I think, to make Mayo Clinic stronger and provide an example for others."
Noseworthy's departure announcement comes after Mayo Clinic completed a $3.8 billion fundraising campaign and saw its revenue jump 9 percent to $12 billion last year. Mayo's board expects to pick a new CEO by this fall. Former Medtronic CEO and current Mayo board member Bill George said Noseworthy greatly improved the organization's finances and further enhanced its status as a health care provider.
"Dr. Noseworthy has positioned Mayo unbelievably well for the future, has built up our focus on patient care, not just in Rochester but in Jacksonville and Scottsdale, at all three sites, as well as regionally and nationally," he said.