Banner Health CEO Peter Fine will retire on June 30 after 24 years in the $14 billion system’s top role, according to a Tuesday announcement from its board of directors.
Stepping up to the plate will be President Amy Perry, who will be adding the CEO role and responsibilities to her current title. She joined the organization in late 2021.
Fine will be stepping down from his role on the board, but will stick around as CEO emeritus through January 2025 to ease the transition and provide advisory assistance, the system said.
“I look forward to continuing to work with Amy to ensure a smooth transition,” Fine said in the announcement. “It has been a pleasure over the last two years to partner with her and our team to realize our current success.”
Fine has been in the command chair since November 2000, a year after the Phoenix, Arizona-based nonprofit formed from the merger of Samaritan Health System and Lutheran Health Systems. Prior to that he was executive vice president and chief operating officer of Aurora Health Care, and held other leadership positions at several individual hospitals.
The board credited Fine for growing Banner “from its roots as a hospital system to its identity today as a fully integrated healthcare enterprise.”
Whereas the organization spanned 14 states, 32 hospitals and 22,500 employees, upon formation, it’s now operates across six states with 30 acute care hospitals, three rehab hospitals, an insurance business, outpatient services and over 55,000 employees. Across 2023, the secular organization reported nearly $14.1 billion in total revenues, $282.8 million in operating income, a net gain of $895.5 million and $760 million in community benefits.
“The Banner Board of Directors expresses its sincere gratitude to Peter for his iconic leadership over the last 24 years, and we are appreciative that we will continue to benefit from his wisdom in his role as CEO Emeritus,” Board Chair Anne Mariucci said in the announcement.
Perry, meanwhile, was credited by the board for her “critical role in leading Banner through the last significant wave of COVID-19 and subsequent organizational recovery." They said she’s pushed the organization toward expanding access and improving affordability, with Mariucci highlighting her “technology-forward, people-centered approach.”
“I am honored and deeply grateful for the opportunity to lead this remarkable health system and outstanding team who sincerely care about advancing health for the communities we serve,” Perry said in a statement. “With Banner’s One Team culture, we are transforming healthcare access and affordability. Leaning into technology and innovation, Banner will define safety, trusted relationships, best-in-class care and affordable coverage. I would like to recognize Peter for his tremendous accomplishments and thank the entire Banner Board for their support and partnership.”