Ex-Cleveland Clinic CEO Floyd Loop leaves Athersys board

Floyd Loop, the former Cleveland Clinic CEO credited with turning around the once-struggling hospital, has resigned from the board of stem cell company Athersys Inc. (NASDAQ:ATHX).

Floyd Loop, the former Cleveland Clinic CEO credited with turning around the once-struggling hospital, has resigned from the board of stem cell company Athersys Inc. (NASDAQ:ATHX).

Athersys didn’t say why Loop resigned from the board, except that the decision “was not the result of any disagreement with the company,” according to a filing with U.S. Securities and Exchange Commission.

A statement from Athersys praised Loop but didn’t say when a replacement would be named.

Loop joined Athersys’ board in 2007, after retiring from Cleveland Clinic in 2004. When he started as the Clinic’s CEO in 1989, the hospital system consisted only of the Clinic’s main East Side campus and had annual revenues south of $600 million. When he left, the Clinic comprised 12 hospitals in Ohio and Florida, 14 family health centers and $3.5 billion in annual revenues, Crain’s Cleveland Business reported in a profile of Loop from last year.

“I only threw my hat in the ring after I listened to 30 proposals from people who wanted to be the head of the Clinic and I didn’t like any of them,” Loop told Crain’s.

Shares0
Shares0