Three top executives are leaving Detroit Medical Center to pursue other jobs and opportunities, CEO Joe Mullany confirmed Monday to Crain's.
COO Andrei Soran is leaving to be the CEO of an undisclosed health system in California; Larry Gold, CEO of Children's Hospital of Michigan, has left to pursue other opportunities; and Michael Lacusta, an executive vice president, is leaving to become Ernst & Young's coordinating services director for the health advisory group, Mullany said.
"As we continue on our 'Path to the Top,' one of the positives along with the negatives is that the great work being done at the DMC gets noticed nationally," Mullany said in a statement to Crain's. "And with that so do members of our team. When other organizations read about everything happening here at the DMC they want to incorporate those opportunities into their organization. The easiest way is to recruit DMC talent."
Mullany said Luanne Ewald has been appointed interim CEO of Children's Hospital.
"Luanne has held a variety of positions within the Detroit Medical Center most recently serving as corporate vice president for business development and marketing," Mullany said. "In her most recent position she was instrumental in the vision, development and successful launch of the new Children's Hospital" outpatient center in Troy.
Ewald will work closely with physicians Stephen Lipshultz and Joseph Lelli, Mullany said.
DMC officials said the executive changes are simply normal job attrition.
Last week, Modern Healthcare reported that poor financial results had pushed Dallas-based Tenet Healthcare Corp. out of the Standard & Poor's 500, a blue-chip stock index. Tenet, which owns DMC, will move to the S&P MidCap 400.
"Tenet Healthcare has a market capitalization that is more representative of the mid-cap market space," according to a news release from the S&P Dow Jones Indices.
Tenet's market capitalization was about $2.9 billion Friday, which is down by more than half the year before, Modern Healthcare reported. Tenet's stock last year was trading at more than $60 per share. It is now down around $29 per share.
DMC officials previously told Crain's that Tenet has no plans to sell the seven-hospital system. Tenet is in the process of selling several of its Georgia and North Carolina hospitals. Tenet lost $140 million in 2015.
In July 2013, Soran went to DMC to become president of DMC Huron Valley-Sinai Hospital in Commerce Township, and DMC Surgery Hospital in Madison Heights. He was promoted to COO in December. He had been employed by DMC's previous parent organization, Vanguard Health Systems, in its New England region.
Gold became CEO of Children's Hospital in November 2013. He had been president of British Columbia Children's Hospital and Sunny Hill Health Centre in Vancouver.