AdventHealth CEO announces plans to retire

The leader of one of America’s largest faith-based hospital systems has announced his plans to step down.

Terry Shaw, president and CEO of AdventHealth, said Friday that he plans to retire in July 2025.

Terry Shaw, president and CEO of AdventHealth, said Friday that he plans to retire in July 2025. He has been leading AdventHealth for eight years and has spent 40 years with the organization.

Shaw shared his decision with AdventHealth employees in a video message Friday morning. He said he made the decision after much prayer and reflection.

“While the organization is experiencing such positive momentum, the time is right to clear the path and create the opportunity for the next generation of leaders to guide this extraordinary organization forward,” Shaw said in the video message.

AdventHealth says it has a succession plan in place and expects to announce an internal successor in April 2025. Shaw plans to have an active role on AdventHealth’s board, the system said.

Based in Florida, AdventHealth runs 54 hospitals and more than 1,200 healthcare sites in nine states: Florida, Georgia, Colorado, Kansas, Texas, Illinois, Wisconsin, Kentucky, and North Carolina. The organization employs about 100,000 people and boasts $17.9 billion in revenue.

Last year, AdventHealth formed a joint venture with UChicago Medicine. Just last month, AdventHealth announced a definitive agreement to acquire two hospitals in Florida.

Shaw cited the organization’s strategic plan dubbed Vision 2030, which positions AdventHealth for continued growth.

“Over the last eight years, we have unified under one brand, expanding our national influence, embodying our shared purpose and values,” Shaw said in the message. “We cast a bold new vision for 2030 laying the foundation for sustained growth, clinical excellence, financial sustainability and expanded community impact.”

In his video message, Shaw also talked about AdventHealth’s focus on patients and the organization’s employees.

“We established the consumer experience as a cornerstone of our strategy, recognizing its critical importance to our success,” Shaw said. “And perhaps most importantly, we recommitted and invested in you, our team, because you are the heartbeat of this organization.”

As he looks to the future, Shaw said he has “immense joy in what has been accomplished.”

“Every success achieved is a testament to your hard work, dedication and faith in our mission,” Shaw said. “Full confidence is placed in our leadership team and in the bright future that lies ahead.”

Shaw said he looked forward to spending more time with his wife, Paula, more time with his family and friends, riding a motorcycle, and “becoming the biggest advocate and supporter of AdventHealth.”

Gary Thurber, chairman of AdventHealth’s board of directors, praised Shaw’s management of the organization.

“We will be forever grateful for Terry’s leadership as CEO for the past eight years, including his prior 30+ years of leadership across mission, strategy, operations, clinical and finance,” Thurber said in a statement. “His wisdom, guidance and steadfast commitment to our shared vision have been invaluable. Together, we strengthened the foundation of AdventHealth, ensuring that its mission will endure for generations to come.”

AdventHealth has a stable outlook, with solid operating margins, a strong presence in growing markets and a good mix of payers, according to Fitch Ratings. The bulk of AdventHealth’s revenue comes from Florida, and its fastest growing market is in west Florida. The system just opened a new hospital, AdventHealth Riverview, in South Hillsborough County.

The system has been investing in other areas, including Colorado, Fitch notes.

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