CLEVELAND, Ohio – Rick Chiricosta announced on Tuesday that he will retire as President, President and CEO of Medical Mutual at the end of 2022 after more than a decade at the helm of the company.
Chiricosta became President and CEO in January 2009 following the death of his predecessor Kent Clapp. He was appointed chairman of the board of directors of Medical Mutual in 2013, according to a press release.
âIt has been a lifelong honor to serve the members and employees of Medical Mutual,â Chiricosta said in the statement. âThis company and the amazing people who work here are so important to the communities of Ohio. I am eternally grateful for the time I have spent here and the impact it has had on my life.
Throughout his tenure, Chiricosta has demonstrated “visionary leadership and unwavering dedication to the communities we serve,” said Medical Mutual Senior Board Director Bob King in the statement. communicated.
âHe has been the heart and soul of our company, fiercely dedicated to its customers and employees, for over a decade,â King said in the statement. âI couldn’t be happier with the positive momentum that he and his team have created in a very difficult environment. One of the greatest legacies Rick will leave behind is an extraordinarily committed culture of service and excellence. “
Executive search firm Spencer Stuart will help lead the search for Chiricosta’s successor, the statement said.
Cuyahoga County Manager Armond Budish praised Chiricosta’s work at Medical Mutual, which largely provides health insurance to county employees, Budish said.
âHe’s doing a great job in running this business,â Budish said in an interview with cleveland.com. âFrom what I can see, he has a great relationship with his employees. They are in good spirits from what I can tell, and that doesn’t happen on its own. This happens because he cares so much about his employees and the community.
During her tenure with Medical Mutual, Chiricosta helped the company pass and implement the Affordable Care Act, which expanded access to health insurance to thousands of Ohioans, the statement said. .
He also helped expand access to healthcare by expanding Medical Mutual’s provider network in northeast Ohio. The company’s surplus also doubled during his tenure, leading to financial stability and enough capital to help improve the quality of life for Ohioans in the long run.
Chiricosta’s career in health insurance spans almost 40 years. He made his debut at Medical Mutual, when he was controller of the company’s western division in Toledo in the mid to late 1980s, the statement said. He then became CFO of Medical Life Insurance Company in 1989; at the time, Medical Life was a wholly owned subsidiary of Medical Mutual.
After briefly leaving Medical Life for a position with the National Interstate Corporation, Chiricosta returned to Medical Mutual in 1999 to serve as Vice President of Finance. He then became chairman of the life group of Consumers Life Insurance Company, a company under Medical Mutual, in 2006. Chiricosta also served as Medical Mutual’s executive vice president for mergers and acquisitions, the statement said.
In addition to his work in health insurance, Chiricosta has served as secretary of the board of directors of the Rock & Roll Hall of Fame. He has also chaired the Boards of Directors of the Greater Cleveland Partnership and the Cuyahoga Community College Foundation, among other roles in the nonprofit and civic sectors.
The Chiricosta retirement project comes as Northeastern Ohio is going through a period of leadership transition in the public, private and civic sectors. Cleveland Mayor Frank Jackson is retiring after four terms, and nonprofit executive Justin Bibb or Cleveland City Council Chairman Kevin Kelley will be the city’s next mayor.
University hospitals and the Cleveland Clinic, two leading hospital systems based in the city, are each under relatively new management. UH CEO Dr Cliff Megerian took over earlier this year, while Dr Tomislav Mihaljevic started as CEO and chair of the clinic in 2018.
Cuyahoga County will also have an election for a new county executive in 2022, and current executive Armond Budish has yet to say whether he will run for a third term. United Way President and CEO Augie Napoli, George Gund Foundation President Dave Abbott, and Cuyahoga Community College President Alex Johnson are also among those who announced retirements to to come.
In the nonprofit sector, Margaret Mitchell becomes the next CEO of YWCA USA after serving as president and CEO of the organization’s Greater Cleveland chapter for the past 10 years.
âHe’s a wonderfully nice guy,â Budish said. âHe’s the CEO of a big company. People sometimes get impressions of CEOs. He is down to earth. He is genuine. It’s just someone you can relate to, anyone can relate to.