Boone Health CEO steps down
COLUMBIA, Mo. (KMIZ)
Boone Health's Board of Directors announced on Friday that Troy Greer is stepping down from his position as president and CEO.
Greer started his career at Boone Health in September 2020, and his last day with Boone Health was Friday. According to a news release, Greer said he plans to return to Alabama, to be closer to his family.
"The board greatly appreciates all the work that Troy did for us," Chairman Jerry Kennett said. "He came in a very difficult time, and then it became more difficult."
The release states the Board of Directors would, "like to express its sincere gratitude to Troy for his dedication, hard work, and the lasting impact he had on Boone Health during a pivotal period in its history."
Kennett said Greer helped Boone Health as it transitioned to an independent organization.
Kennett said Greer and the Board had been discussing his departure from the board, "over a period of several months, so it was sort of a joint decision."
Gene Meyer will take over as the interim CEO while the Board searches for a new one, according to the release.
Gene previously held an executive role at Boone Health in 2020 during the hospital's transition to being an independent hospital. Prior to that, Meyer had been the CEO of a hospital in Lawrence, Kansas, for 20 years, according to Kennett.
Kennett said a firm that assists companies to search for a CEO will be hired, with the whole process expected to take about four to five months.
During the hospital's last CEO search, Kennett said Boone Health received 30-40 applicants and interviewed roughly 11 before hiring Greer.
A meeting between the Board and the hospital's executive team was held Thursday, and another meeting between the Board and the managers and directors of the hospital was held Friday to explain the process moving forward.
Kennett said they are looking for someone who, "has experience, at a top level for running a healthcare institution."
"Being a CEO of a hospital is you know, anybody who's been in that role knows it is not an easy job," said Kennett. Kennett said the job requires the person to work long hours.
Kennett said they are looking for somebody who has an "energetic fashion" and is willing to make difficult decisions.
Since the hospital's transition to an independent hospital, Kennett said their employees and board of directors are, "all extremely happy." He did add that they have faced challenges, but he feels as though it was the "right decision."
However, following the transition according to its Notes to Consolidated Financial Policies from Dec. 31, 2021. The hospital incurred $50,550,000 in losses and had a negative cash flow of $57,973,000 in operations.
Kennett claims Boone Health is doing, "dramatically better." He said they are, "on the course to where we think by the end of 2023 that we will be positive cash flow."
Kennett said the Board expected to lose money during the first few years following the transition, but said, "We're right on budget at the present time."