GARY | The search to replace the president and CEO of Methodist Hospitals should have more focus in the coming months.
Given the strength of the organization and the optimism for the future, the board of directors has chosen to take a deliberate approach to naming a permanent replacement, according to the hospital.
This could include a search with both internal and external candidates with guidance from the board in upcoming months.
Ian McFadden, the executive credited with righting the financial health of Methodist, said he met performance benchmarks he set for the organization and himself, and he is ready to move on to new challenges.
He announced his resignation Tuesday, effective Nov. 30.
Methodist has campuses in Gary and Merrillville.
McFadden took over five years ago. He led the company from a $73 million deficit in 2008 to an operating surplus of $3.4 million at the end of 2009, with four consecutive years of increasing financial stability, according to the hospital.
With the organization in a good place operationally and with a strong leadership team in place, McFadden decided the end of year was an ideal time to make a move, the hospital said. He plans to spend the holidays with his family and shift his short-term focus to completing his doctorate degree at University of Alabama at Birmingham.
McFadden said his tenure was an exciting and gratifying time.
"We have been able to strengthen our health care service offerings to include a new emergency department, state-of-the-art breast care center and improved technology to support physicians and staff at both campuses," he said.
Dr. Michael Davenport, vice president of medical affairs, has assumed the role of interim president and CEO of the hospital system.
"I am committed to staying on the course that Ian has set and that has allowed us to achieve a high level of success over the past five years," he said. "My priority is to continue to build strong relationships and deliver high quality care. My personal professional goal is to advance Methodist Hospitals’ mission to be the best place for physicians to practice, the best place for employees to work and the best place for patients to receive care."