North Memorial Health Care has named Loren (Larry) Taylor as chief executive to replace David Cress, who was arrested in a prostitution bust a month ago.
North Memorial names Larry Taylor as CEO
October 1, 2010 at 1:59AM
Taylor, who was named interim chief executive immediately after Cress' arrest, had served on North Memorial's Board of Trustees since 1997, most recently as chair.
Taylor, 63, previously was president of HPC, a management services company to utilities, as well as CEO of Pivotal Vision, a maker of security systems for utilities. He is also a former executive at Bracknell Corp. Northern States Power and Xcel Energy.
"Larry brings a wealth of leadership experience and a unique perspective to North Memorial," said Robert Potts, the new chair of the board of trustees. "He understands and appreciates North Memorial's rich history and has the vision to move the organization forward.
A memo to employees said Cress is no longer employed by North Memorial.
Cress was arrested Sept. 1 by Richfield police and charged with engaging in prostitution. He was one of about a dozen men arrested at a Richfield hotel during a day-long vice operation.
Cress, who had been at North Memorial since 1982, took over as head of the medical facility in 2005 from longtime CEO Scott Anderson.
North Memorial owns a medical center with 518 beds as well as 12 clinics, and is known for its trauma care.
The metro's smallest health system, it lost money on operations last year and is on track to lose money again this year, amid a weak economy and heavy investment in a new hospital in Maple Grove.
Chen May Yee • 612-673-7434
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CHEN MAY YEE, Star Tribune
Stadium Capital, the largest shareholder, had been pushing for management and board changes at Minneapolis-based smart-bed maker.
