Ken Langone, co-founder of Home Depot Inc. and chairman of the NYU Langone Hospital board of directors, and Robert I. Grossman, CEO of NYU Langone Health, will both retire next year, the hospital system announced Thursday.
“It is with great satisfaction that I know we have transformed NYU Langone Health into a truly unique institution,” Grossman said in a message sent to NYU Langone Health staff.
“I am incredibly proud of each and every one of your efforts that made this achievement possible,” added Grossman, who also serves as dean of the NYU Grossman School of Medicine.
“Without you it would never have happened. But all good things come to an end.”
They are due to step down at the end of August 2025.
Fiona Duckenmiller will succeed Langone, 88, as sole chair of the board after serving as co-chair for the past seven years. She has served on the NYU Langone Board of Trustees since 2006.
A spokesman for NYU Langone said the school plans to conduct a “formal national search” to find a CEO replacement for Grossman.
As CEO of the health care giant since 2007, Grossman and Langone oversaw a massive expansion of NYU Langone Hospital, which now includes six inpatient facilities, the Perlmutter Cancer Center and more than 300 outpatient locations in New York and Florida.
The vast system also has two medical schools.
Under their leadership, NYU Langone’s revenue has soared from $2 billion in 2007 to more than $12 billion by 2023, according to the announcement.
Last September, NYU Langone Health earned the Bernard A. Birnbaum, M.D. Quality Leadership Award for outstanding patient care and the Ambulatory Quality and Accountability Award for excellence in ambulatory care, solidifying its position as one of the top systems in the country.
In July 2023, the Langone family donated $200 million to make tuition free at NYU Grossman Long Island School of Medicine.
Best known for his early investment in Home Depot, Langone has a personal net worth of $8.8 billion, according to Forbes magazine.
