Tim Rice becomes CEO emeritus of Cone Health on Oct. 1, 2014. Terry Akin becomes president and CEO at that time.
“Over the past few months, it has become increasingly clear to me that Cone Health is in great hands with Terry, and he is very well prepared to lead our network,” says Rice. “As a result, I have decided to transition the CEO role to Terry a bit earlier than in January, as I initially planned. Oct. 1 also coincides with the start of our fiscal year, which is a logical time for Terry to assume full leadership of Cone Health.” Rice’s official retirement date remains Jan. 1, 2015.
“I am honored and excited to become the next CEO at Cone Health,” says Akin. “I don’t believe Healthcare has ever faced a time of either greater challenge or greater opportunity. Under Tim’s leadership, we have laid much of the important groundwork, and I believe that this is our chance to create a better system - a better model of delivering healthcare that strikes the right balance between quality, access and cost. Cone Health is poised to help lead the way regionally and nationally, and I can’t wait to see how our patients and communities benefit.”
Akin joined Cone Health in July 2009 as chief operating officer. He was named president of Cone Health in April 2012 and has been responsible for the day-to-day operations of the health network. Akin has been instrumental in guiding Cone Health toward its vision to reach national leadership in providing measurably superior healthcare, and has been assuming more responsibility as Rice transitioned the president’s role to him in anticipation of retirement.
Akin is a fellow in the American College of Healthcare Executives. He is chairman of the Greensboro Chamber of Commerce operating group, board and executive committee member of the Greensboro Partnership, past-chair of the Guilford County Heart Walk, a past member of the North Carolina Hospital Association's policy development committee, and a founding board member of the North Carolina Center for Affordable Healthcare. He was recently elected a board member of the North Carolina Hospital Association.
Akin received his bachelor of science degree in psychology from Texas A&M University. He earned an MBA from the Wharton School at the University of Pennsylvania where he also earned a master's degree in social work.
As CEO emeritus, Rice will continue working on Cone Health fundraising projects and legislative advocacy as well as representing Cone Health on the boards of the Union Square Campus and the Piedmont Triad Partnership.