Cone Health CEO Mary Jo Cagle to Step Down, Interim Leadership Announced

Cone Health, a prominent health system based in Greensboro, North Carolina, has announced a significant leadership change. Mary Jo Cagle, the organization's President and Chief Executive Officer, will be stepping down from her position due to a serious family matter. This development comes less than a year after Cone Health's acquisition by Risant Health, a nonprofit health system formed by Kaiser Permanente.

Leadership Transition and Interim Appointment

Mary Jo Cagle, who made history as the first woman to serve as CEO of Cone Health, will conclude her tenure on May 31, 2025. The health system has initiated a nationwide search for her permanent successor. In the interim, Bernard Sherry, currently serving as Cone Health's interim chief operating officer, will step in as the interim CEO.

Sherry brings over three decades of senior leadership experience to the role, having previously held positions at Ascension Wisconsin and Saint Thomas Health (now known as Ascension Saint Thomas). This wealth of experience is expected to provide stability during the transition period.

Cagle's Legacy and Achievements

During her tenure, Cagle oversaw a significant healthcare operation, managing five hospitals and a workforce of more than 13,000 employees. Her leadership was particularly noteworthy during the COVID-19 pandemic, where she guided the system through unprecedented challenges.

Cagle also played a pivotal role in Cone Health's strategic development, serving as a "driving force" behind the recent acquisition by Risant Health. Reflecting on her time at Cone Health, Cagle stated, "It has been a joy and privilege to lead this system. I'm incredibly proud of all we've accomplished to increase access to care, enhance patient safety and care quality."

Financial Performance and Future Investments

The leadership change comes at a time of strong financial performance for Cone Health. For the 2024 fiscal year ending September 30, the health system reported $364.8 million in excess of revenue over expenses, a substantial increase from the $197.6 million reported in 2023.

As part of the acquisition agreement, Risant Health has committed to significant investments in Cone Health's future. These include:

• A pledge to invest at least $1.4 billion over the next five years to develop Cone facilities and integrate the system into Risant.
• An additional investment of up to $300 million over 10 years to support Cone's growth.

These financial commitments underscore the strategic importance of Cone Health within the broader Risant Health network and signal a period of potential expansion and development for the health system.