UPMC has officially announced the appointment of Frederick M. Hargett as the new Executive Vice President and Chief Financial Officer, effective from October 1. This appointment follows the retirement announcement earlier this year by Edward Karlovich, who previously held the role of CFO.
Hargett brings with him a wealth of experience, joining UPMC from Novant Health, Inc., where he served as the Executive Vice President and CFO for an impressive 15-year tenure. Novant Health is a highly successful non-profit integrated health system based in Winston-Salem, North Carolina. It encompasses 16 medical centers, boasts over 1,900 physicians practicing in more than 800 locations.
During Hargett’s time as CFO at Novant Health, the organization underwent remarkable growth, evolving from a $1.5 billion entity into an $8 billion organization. This expansion involved the introduction of new clinical programs and services across a broader geographic footprint. Prior to assuming the role of CFO at Novant Health, Hargett spent five years in positions such as financial planner and analyst and Executive Vice President of Finance.
Leslie Davis, President and CEO of UPMC, expressed satisfaction with Hargett’s appointment, highlighting his exceptional financial expertise and leadership skills. Leslie emphasized his track record of steering long-term strategic growth while effectively managing the core financial functions of daily operations. Davis also shared the excitement about the shared vision to expand access to UPMC’s healthcare services and warmly welcomed Fred to the UPMC team.
Hargett, a native of Charlotte, North Carolina, holds undergraduate degrees in public health and business administration. He furthered his education by earning a master’s degree in accounting from the University of North Carolina at Chapel Hill and is a certified public accountant (CPA). Before joining Novant Health, Hargett spent over seven years at Ernst & Young, where he provided growth strategy advisory services to health systems.
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