Banner Health names Memorial Hermann CFO as new chief financial officer
Laraway will focus his time on leading the finance strategy, treasury and financial operations areas of the organization.
Dennis Laraway will become Banner Health's new CFO in September.
Memorial Hermann CFO and executive vice president Dennis Laraway is joining Banner Health in Phoenix as CFO starting September 29.
Laraway is among several Memorial Hermann executives to leave the Houston healthcare system since the resignation of CEO Benjamin Chu, MD, in June.
Laraway previously worked in the Phoenix area as vice president and CFO for St. Joseph's Hospital and Medical Center from 2002 to 2006, according to Banner Health.
He has served as CFO and executive vice president for Memorial Hermann Health System since 2011.
[Also: Memorial Hermann cuts 350 from workforce in second layoff this year]
Memorial Hermann is also losing Christopher Lloyd, CEO of the system's physician network, Craig Cordola, a regional vice president, and Jim Garman, head of human resources, confirmed Memorial Hermann spokeswoman Alex Rodriguez Loessin.
Memorial Hermann Health System appointed Charles "Chuck" D. Stokes its new president and CEO. He had been serving in that role in an interim capacity since the departure of Chu, who left to pursue public and health policy.
[Also: Memorial Hermann appoints Charles Stokes new president and CEO]
Laraway brings more than 30 years of financial leadership in large integrated health systems to Banner. As chief financial officer, he will become a member of Banner's senior leadership team and will report directly to President and CEO Peter S. Fine.
Laraway will focus his time on leading the finance strategy, treasury and financial operations areas of the organization, Banner said. He will have oversight responsibility for other areas associated with insurance contracting, auditing, material and product acquisition, and business health and risk activities.
"Banner has achieved national acclaim through strong leadership and a commitment to excellence," Laraway said. "I hope to complement Banner's management team as we move forward under new models of care delivery, finding solutions to help solve the many challenges facing our industry and our consumers."
Stokes said by statement, "Career moves by top leaders to other signature health systems speak volumes about the caliber of talent we have at Memorial Hermann. While we will miss the contributions of these individuals to the organization, I'm incredibly proud of all they accomplished and I wish each of them the very best. We have a strong management team at Memorial Hermann and excellent support from our board."
Laraway has also held administrative positions within various healthcare facilities in New York, and served as affiliate faculty and lecturer in Health Management and Policy at Arizona State University's W.P. Carey School of Business.
He received his Bachelor of Science degree from King's College in Wilkes-Barre, Pennsylvania, and master's of Business Administration degree from Rensselaer Polytechnic Institute in Troy, New York.
[Also: Banner Health eliminates positions amid $65 million restructuring]
Banner Health is among the largest nonprofit health care systems in the country, owning and operating 28 acute-care hospitals in six states: Arizona, California, Colorado, Nebraska, Nevada and Wyoming.
Twitter: @SusanJMorse
