Baylor Scott & White Health's chief financial officer has stepped down after just over a year in one of the system's top jobs.
Penny Cermak stepped into the CFO role in April 2019 after climbing the ranks of the Dallas-based health system she joined in 2012. Baylor Scott & White announced Friday Cermak was no longer serving in the position as of Aug. 10.
Carrol Aulbaugh will serve as the health system's interim chief financial officer while Baylor Scott & White launches a national search for a new CFO. The system said Aulbaugh has more than 30 years' worth of experience at three major health systems, including serving as CFO of Memorial Hermann Health System in Houston. A Linkedin profile under that name describes Aulbaugh as retired and living in a Houston suburb.
In a statement, Baylor Scott & White said it informed employees on Aug. 5 of Cermak's plans to leave the organization on Oct. 30. Until then, she'll continue to assist Aulbaugh. A spokeswoman declined to share more detail on the reason behind Cermak's departure.
"Since joining the health system eight years ago, Penny has held various leadership roles, helping us advance during critical times in our history," the statement said. "Today, while still in the midst of the pandemic, we continue to be recognized as one of the most financially stable healthcare organizations in the country."
Cermak's selection as CFO in 2019 followed a national search. The system said she was chosen in part for her pivotal role in the integration that followed the 2013 merger to create Baylor Scott & White. She was also credited with helping grow the system's operating income by more than $100 million year-over-year in fiscal 2018 through improved productivity, supply chain and purchased services savings and administrative efficiencies.
Prior to joining Baylor Scott & White, Cermak was CFO of BroMenn Healthcare System in Normal, Ill. for almost a decade. That system later merged into Advocate Health Care in 2010.
