Mayo Foundation Trustees Confirm New President of Mayo Foundation

Friday, May 17, 2002

SCOTTSDALE, Ariz., May 17, 2002 — Today, the Mayo Foundation Board of Trustees confirmed the Foundation Executive Committee's selection of Denis A. Cortese, M.D., as successor to Michael B. Wood, M.D., as President and CEO of Mayo Foundation.

As previously announced, Dr. Wood will continue to serve as president and CEO of Mayo Foundation until completion of his term in February 2003. In the intervening months, Dr. Wood and Dr. Cortese will work together to achieve a thoughtful and orderly transition in leadership.

Dr. Cortese has been a consultant in thoracic diseases at Mayo Clinic for 26 years.

Dr. Cortese is a member of the Mayo Foundation Board of Trustees and the Foundation Executive Committee. He served on the Rochester Board of Governors from 1987 through 1992 and was chair of the Clinical Practice Committee in Rochester for three years. In 1999, Dr. Cortese was named chair of the Board of Governors at Mayo Clinic Jacksonville and of the Board of Directors at St. Luke's Hospital in Jacksonville. Dr. Cortese has conducted NIH-sponsored research and served as a member of the Mayo Foundation Research Committee. He is a professor of medicine at Mayo Medical School and has twice been voted teacher of the year in the Department of Internal Medicine.

The selection process for a new president and CEO for Mayo Foundation has been extensive and thorough. The search committee, under the leadership of Bert Getz, chair of the Board of Trustees, began the search for candidates in February 2002. Leaders from all facets of Mayo Foundation interviewed with the committee, talking about issues facing the institution and possible candidates for leadership succession.

"The role of the president and CEO of Mayo Foundation is a vital one in this institution," says Getz. "It serves to unite Mayo Clinic — in all its locations and activities — in a shared vision and strategic direction. This unity will continue to be critical to the future success and ongoing excellence of Mayo Clinic."

The Board of Trustees commends Dr. Wood and congratulates Dr. Cortese during this time of transition as they work together to ensure continuous leadership and common purpose for Mayo Foundation.

The Mayo Foundation Board of Trustees today also recognized two physicians who are completing their terms on the board.

Robert R. Hattery, M.D., has served as chair of the Department of Diagnostic Radiology and the Mayo Group Practice Board. He is currently an officer of the Mayo Foundation Board of Trustees and a member of the Mayo Foundation Executive Committee. Dr. Hattery was chair of the Mayo Clinic Rochester Board of Governors from 1994 to 1998. Dr. Hattery plans to retire this summer after 32 years with Mayo Clinic. He will become the executive director of the American Board of Radiology.

Michael B. O'Sullivan, M.D., has served as department chair of Laboratory Medicine and Pathology, chair of Mayo Regional Practices and chair of Mayo Medical Laboratories. He is a member of the Mayo Foundation Executive Committee and the Mayo Foundation Board of Trustees. In 1997, he became the chair of the Mayo Clinic Scottsdale Board of Governors. After 33 years with Mayo Clinic, Dr. O'Sullivan has announced his retirement, effective June 1.

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