Mayo Clinic announced Tuesday that Dr. John Noseworthy, the veteran chief executive at the Rochester-based health system, will retire at the end of 2018, capping nearly a decade of growth at one of Minnesota's most visible organizations.
Since Noseworthy was named chief executive in 2009, the clinic's endowment has more than doubled, annual revenue nearly hit the $12 billion mark and the workforce grew by 7,200 to more than 63,000 people.
In the past year, the clinic has been at the center of controversy as residents of Albert Lea mobilized to oppose a Mayo plan to reduce services in the community. But Noseworthy also oversaw a successful push at the State Capitol for a massive economic development project in Rochester to bolster the region's status as a destination for specialty medical care.
"Mayo has a long-standing culture of an insider will become the next CEO," said Richard Davis, the former chief executive at U.S. Bancorp who is also a member of Mayo Clinic's board of trustees. "It's a very thoughtful process, which we're engaging in right now."
In an interview, Noseworthy cited a reorganization beginning in 2009 to make Mayo Clinic operate as one entity — rather than a holding company with distinct operations in different states — as among his most important accomplishments.
Mayo Clinic operates clinics and hospitals in Arizona, Florida, Iowa, Minnesota and Wisconsin. Moving forward with one operating plan has helped the clinic deliver great performance, Noseworthy said.
On Tuesday, Mayo released 2017 financial results showing a 49-percent increase in net income over the previous year, with the clinic earning $707 million on $11.99 billion in revenue.
In 2013, state lawmakers agreed to put $585 million toward infrastructure improvements in the Rochester area to supplement investments by Mayo and private investors. Called Destination Medical Center, the project doesn't direct "a penny" to the clinic itself, Noseworthy said, but balances "the outstanding care that happens at Mayo Clinic with a very strong experience for our travelers who come from 50 states and 140 countries.