Mountain View, CA - May 12, 2011 - El Camino Hospital announces that Ned Borgstrom, El Camino Hospital's interim CFO, will become interim CEO/CFO effective July 1 until a permanent CEO has been named. As previously announced, the Board and Ken Graham have mutually agreed to complete Ken's transition as CEO effective June 30, 2011. Ken will continue with full authority as CEO through June 30, 2011, and there will be sufficient overlap to ensure a seamless transition.
"Ned's rich background overseeing finances and administration for large health systems and medical centers makes him well-suited for the role of interim CEO," stated John Zoglin, Chairperson of the El Camino Hospital Board of Directors. "He is already familiar with our operations and he has previous CEO experience."
The national search for a permanent CEO is well underway. The Board has selected a nine-person search committee led by Patricia Einarson, MD, which is partnering with the executive search firm of Russell Reynolds, San Francisco. Carol Emmott, who leads the Health Services Practice of Russell Reynolds, is personally spearheading this search.
"We are conducting a robust recruitment effort with the goal of having a permanent CEO on board by the fall," says Dr. Einarson. "Our goal is to secure the highest caliber leadership for El Camino Hospital as it accelerates into the 21st century of health care."
About Ned Borgstrom
Ned Borgstrom most recently served as interim CFO for the Northern California region of Kaiser Permanente, which includes 3.3 million members and 20 hospitals. Previously, he was the senior vice president of finance and administration for Exempla Healthcare, a three-hospital system in Denver, Colorado.. During his ten-year tenure at Exempla, he also served as interim president and CEO of Saint Joseph Hospital. Prior to that, Ned served as senior vice president and CFO of the Virginia Mason Medical Center in Seattle, Washington, which has been distinguished for its clinical excellence and quality programs. Ned started his career at Arthur Anderson & Co. where he held a variety of positions including Audit Partner. Ned holds a M.B.A. from Stanford University.