Newton to step down as Swedish Covenant CEO, replaced by COO

Mark Newton will soon step down as president and CEO of Chicago's Swedish Covenant Hospital after leading the hospital for over 15 years. Chief Operating Officer Anthony Guaccio will replace him.

Newton, 65, will resign on June 30 and transition to a new role, in which he takes primary responsibility for the Swedish Covenant Hospital Foundation and the hospital's advocacy efforts. Guaccio, 55, will take over as CEO on July 1.

“The Swedish Covenant Hospital Foundation was launched during Mark's tenure and has grown significantly with his support to provide funding for many key initiatives such as the Women's Health Center and the Integrated Cancer Care program,” said Dennis Hammer, chairman of the Swedish Covenant Foundation board. “Mark is a great asset to the community and the hospital, and we are extremely pleased to have him involved in the Foundation to help us bring even greater benefits to the community.”

Under Newton's leadership, the hospital added a number of facilities, including two Immediate Care Centers, an outpatient concept first launched in June. The hospital has increased its net assets by about $250 million and has received eight consecutive “A” hospital safety scores from the Leapfrong Group, according to a press release.

Guaccio has been with Swedish Covenant for over 20 years, serving as COO for the last decade. He previously served as Chief Human Resources Officer and senior vice president of operations.