Ken Bank, President and Chief Executive Officer (CEO) for Northfield Hospital & Clinics, announced this week that he will retire within the next year.
Bank, who has served as the hospital’s CEO since 1988, has been working with the board of directors for the past 18 months to develop an orderly succession plan. At a meeting last week, he formally advised the board of his intentions and announced his plans to hospital staff on Wednesday.
In a memo, Bank said he is grateful for the opportunity to work at Northfield Hospital & Clinics with a talented and committed staff of employees, a professional and deeply caring medical staff, dedicated Board members and a consistently supportive City Council.
“I could not have asked for a better place to work or a better group of people with whom to share that effort,” he wrote. “Throughout my tenure, I have been blessed to work with wonderful people. They are the secret to whatever success we have been able to achieve.”
He also addressed the anxiety that sometimes accompanies leadership transition.
“The prospect of changing presidents can create a sense of uncertainty in any organization,” he wrote. “I want you to know that our Board is keenly aware of this and has been in the process of carefully planning for a smooth leadership transition for over almost a year and a half….The goal of all the work the Board has done is to provide as much stability and continuity as possible before, during and after having a new president in place.”
In accordance with its succession plan, the board is in the final stages of selecting a professional search firm to assist in recruiting for a new president and CEO. The structure of the search process itself will be fully developed with the guidance of the selected firm.
Bank, a native of Minnesota and a St. Olaf College graduate, came to Northfield in 1988 from an administrative position at Tucson Medical Center in Tucson, Arizona. During his time here, he has presided over the development of the Center for Sports Medicine and Rehabilitation, the expansion of surgical services and diagnostic imaging at the hospital on West Second Street, the design and construction of a new $34 million hospital that opened in 2003 and the development of a primary clinic network intended to provide the patient base to support a broader range of specialty services in the community.