Category Archives: Resignation

CEO resignations hit record high

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Dozens of hospital CEOs have resigned this year as a record number of chiefs across all industries have exited their roles, according to a May 18 Challenger, Gray & Christmas report. 

Nearly 520 CEOs left their posts between Jan. 1 and the end of April, the highest total since the executive outplacement and coaching firm began tracking CEO changes in 2002. The total is up 18 percent from the 440 CEO exits announced in the same period of 2021. 

Thirty-six hospital CEOs exited their roles in the first four months of this year. That’s up from the 20 hospital chiefs who resigned in the same period last year, according to the report. 

CEOs are leaving their positions and businesses are making changes at the top for several reasons, Challenger, Gray & Christmas Senior Vice President Andrew Challenger said. 

“Inflation, staffing shortages, and possible recession concerns are giving more cause for companies to reevaluate leadership,” Mr. Challenger said. “This, after years of companies trying to figure out the right formula to attract and retain talent and create a culture of inclusion, issues that often start at the top.”

Viewpoint: It’s the Great Aspiration, not Resignation

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https://www.beckershospitalreview.com/hospital-management-administration/viewpoint-it-s-the-great-aspiration-not-resignation.html?utm_medium=email&utm_content=newsletter

Those who left their jobs during the Great Resignation did so out of more than just frustration, but instead used it as an opportunity to follow their dreams and aspirations, writes Whitney Johnson, CEO of Disruption Advisors, a talent development company, in the Harvard Business Review April 6.

The pandemic forced many people to reevaluate many facets of their lives, from where to live to how to spend more time with family. Ms. Johnson argues that workers’ thoughts on changing the way they work is a good thing, giving workers agency to discover new aspirations and proactively seek them. 

“The Great Resignation appellation is, I believe, mistaken. Most workers are not simply quitting. They are following a dream refined in pandemic adversity. They are aspiring to grow in the ways most important to them,” she writes.

Even for those who have been forced out of the workforce, like working mothers and caregivers, Ms. Johnson argues that it will lead to a boom of innovative new businesses, created by those resourceful workers who find another way to work outside the realms of traditional industry. 

She also states that this “great aspiration” is beneficial for employers too, who can make the most of a fresh pool of talent, full of newly motivated employees who are dedicated and searching for meaning. 

Hospital CEOs are joining the Great Resignation

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The number of departing hospital CEOs is on the rise as C-level executives are grappling with challenges tied to the COVID-19 pandemic. 

Twelve hospital CEOs exited their roles in January, double the number who stepped down from their positions in the same month a year earlier, according to a report from Challenger, Gray & Christmas, an executive outplacement and coaching firm. 

While some hospital and health system CEOs are retiring, others are stepping down from their posts into C-level roles at other organizations. At least eight hospital and health system CEOs have stepped down from their positions since mid-February. 

The increase in CEO departures isn’t unique to healthcare. More than 100 CEOs of U.S.-based companies left their posts in January, up from 89 in the same month a year earlier, according to the Challenger, Gray & Christmas report.  

The uptick in executive exits shouldn’t be surprising given the challenges presented by the COVID-19 pandemic, experts told NBC News. CEOs and other executives aren’t immune to the pressures that are prompting people to leave their jobs.

“It’s many factors — the burnout, the pandemic, the school closures, the need to take stock of life,” Julia Pollack, chief economist at ZipRecruiter, told NBC News in January. “It’s a whole wide range of shocks.”

Moffitt Cancer Center CEO, center director step down; conflicts of interest cited

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https://www.beckershospitalreview.com/hospital-executive-moves/moffitt-cancer-center-ceo-center-director-step-down-conflicts-of-interest-cited.html?origin=CEOE&utm_source=CEOE&utm_medium=email

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Tampa, Fla.-based H. Lee Moffitt Cancer Center & Research Institute on Dec. 18 accepted the resignations of President and CEO Alan F. List, MD, and Thomas Sellers, an executive vice president and center director at Moffitt, the cancer center announced.

In a news release, Moffitt said the resignations were due to violations of conflict-of-interest rules through the work the center director and CEO did in China. An internal compliance review led up to the resignations.

“Moffitt initiated an internal review of team members’ collaborations with research institutions in China after the National Institutes of Health warned all its grant recipients of foreign efforts to influence or compromise U.S. researchers,” Moffitt said. “Moffitt found several compliance violations that also prompted separation of four additional researchers.”

Timothy Adams, Moffitt’s board chairman, will become interim CEO and president.

The Tampa Bay Times reports that the compliance violations were primarily associated with cancer center employees’ personal involvement in China’s “Thousand Talents” program, which aims to recruit global researchers and academics. 

Mr. Adams said in the news release: “At Moffitt, we pride ourselves not only on our lifesaving research and world-class patient care, but also on transparency and integrity among all our employees. This was an unfortunate but necessary decision.”

“Going forward, this will not damage the future of our research or the care of our patients. We will continue to be careful stewards of the public money entrusted to us for cancer research. Moffitt is proud to have 7,000 of the finest medical professionals in the world fighting every day to treat and cure cancer. That is what mattered yesterday, and that is what will matter tomorrow,” he added.

Former Florida House Speaker H. Lee Moffitt, the cancer center’s namesake, also addressed the matter, saying in the news release: “This great institution did its job. We listened to the warnings from NIH, conducted a proactive review, and took strong action when it was needed.”

Dr. List, who previously was Moffitt’s executive vice president and physician-in-chief as well as chief of the malignant hematology division, could not immediately be reached by the Times for comment.

Moffitt continues to conduct a review, including examining its research and education partnership with China’s Tianjin Medical University Cancer Institute and Hospital. Moffitt said nothing indicates that the cancer center’s research was compromised or patient care affected.