Mayo Clinic names new CEO with ‘vision and experience’

After Dr. Gianrico Farrugia announced his plans to retire at the end of the year, Mayo Clinic said it planned to find its next chief executive officer by the end of the year, and the health system met its deadline.

The system kept to its timetable by announcing the appointment of Dr. Matthew R. Callstrom as the next president and CEO of the Mayo Clinic. He will assume his new role in January. Mayo Clinic announced the news Friday.

Farrugia, president and CEO of Mayo Clinic since January 2019, said in May that he planned to step down. He hailed his successor’s qualifications.

In a post on LinkedIn, he said Callstrom “knows Mayo Clinic deeply, understands where healthcare is headed and has the vision and experience to build on the progress we have made.” Farrugia added, “I look forward to all that you and our remarkable, Category-of-One staff at Mayo will accomplish together.”

‘Deeply honored’

Callstrom has spent about a quarter century at Mayo Clinic. He serves as medical director for Mayo Clinic Strategy and the AI Program, and is a member of the system’s board of governors and board of trustees. He also previously served as interim chief strategy officer and chair of the Department of Radiology at Mayo Clinic in Rochester, Minnesota, the system said.

In a post on LinkedIn, Callstrom said he is “deeply honored” to be the next CEO. Pointing to his many years with Mayo Clinic, he said he has been “drawn to an organization where people come together around our primary value of putting the needs of the patient first.”

“Since joining, I’ve had the privilege of caring for patients, advancing research and innovation, and working alongside remarkable colleagues across our practice,” Callstrom said on LinkedIn. “My leadership roles in strategy, AI, and development have given me an even broader appreciation for what makes Mayo Clinic so special, and for the responsibility we have to ensure it remains so for generations to come.”

In its announcement, Mayo Clinic pointed to Callstrom’s work integrating AI into patient care. Callstrom said that he is anxious to speed up advances to develop new treatments.

“Mayo Clinic has always been at its best when we bring the full power of our clinical expertise, science and innovation to the needs of the patient,” he said in the Mayo Clinic news release. “Now, we have an opportunity to build on that foundation – accelerating the translation of discovery and emerging technologies into better care and extending Mayo Clinic’s impact to more patients, wherever they are."

His Mayo Clinic biography points to his work to develop tools to better identify cancer in the liver, kidney, bone, lung and soft tissue.

Major investments

Callstrom leads a renowned organization with remarkable resources. Mayo Clinic reported $21.5 billion in revenue last year, including a $1.5 billion profit, according to MPR News.

The Mayo Clinic has seen more success in philanthropy recently, with fundraising rising from $700 million in 2024 to about $953 million in 2025, S&P Global Ratings said in a March 30 analysis.

Based in Rochester, Mayo Clinic has invested heavily in its campuses in Phoenix, Arizona and Jacksonville, Florida. Last year, the Mayo Clinic launched a $1.9 billion expansion project of its campus in Phoenix. The project is slated to add 1.2 million square feet of space to the campus. Mayo has also invested more than $1 billion in its Florida campus over the past decade, doubling its size. The Jacksonville campus recently celebrated its 40th anniversary.

Richard K. Davis, chair of Mayo Clinic Board of Trustees, pointed to Callstrom’s “deep commitment to our values and mission.”

“His leadership across patient care, research, strategy and innovation, combined with his ability to translate scientific discovery and emerging technology into meaningful advances for patients, prepares him exceptionally well to lead Mayo Clinic into its next chapter,” Davis said in a statement.