Tufts Medicine CEO, CFO to step down amid financial turnaround
Tufts Medicine CEO Mike Dandorph and CFO Andrew DeVoe are both stepping down as the Burlington, Mass.-based system enters the next phase of its financial turnaround, according to an Aug. 4 internal memo from board Chair Phil Lembo shared with Becker's Hospital Review. Dandorph plans to step down as president and CEO on Sept. 30, with COO Phil Okala appointed acting president and CEO. DeVoe has chosen to leave the system, and Greg Kruse, vice president of strategic operations and analytics intelligence, will assume responsibility for budget planning and oversee some financial services operations as the system searches for DeVoe's successor.
Dandorph joined Tufts Medicine as president and CEO in January 2020, and DeVoe had served as CFO since February 2024. The system recorded an operating loss of $31.8 million in the first quarter of 2026, compared with a loss of $28.9 million year over year. In a recent Becker's podcast, DeVoe said the system was on a $300 million loss run rate when he first joined and turned a profit in April.
Lembo expressed gratitude to Dandorph for building strategic partnerships, expanding care access, and positioning the system for its next chapter "despite unprecedented financial challenges and policy changes shaping the industry," and to DeVoe for strengthening banking relationships, improving revenue cycle performance, and overseeing debt refinancings. Mark Gilchrist, MD, chair of the Tufts Medicine Integrated Network Board, will serve as a liaison to Okala and Erika Werner, MD, chief physician executive, to align relationships across the enterprise.