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CRAIN’S CLEVELAND BUSINESS
OCTOBER 18-24, 2010
MICHAEL A. SZUBSKI UNIVERSITY HOSPITALS Cleveland NUMBER OF EMPLOYEES: 13,624 employees/3,592 physicians 2009 REVENUE: $1.9 billion
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ichael Szubski had an uphill battle ahead when he joined University Hospitals’ financial team in 2003. The hospital system had struggled financially over the years, mounting tens of millions of dollars in losses and delaying any possible upgrades or expansions. But since Mr. Szubski came on board, he and his team have guided the hospital system to six consecutive years of positive operating margins. He has held a number of executive roles at the hospital system, which serves patients at 250 locations throughout Northeast Ohio, and he now serves as its chief financial officer. Notably, Mr. Szubski shored up $280 million in two tax-exempt, fixedrate bond issues to help finance University Hospitals’ ambitious $1.2 billion Vision 2010 construction and renovations project. He’s also led or participated in several initiatives to cut down on costs, including more than $10 million in cost reductions in both 2009 and 2010. Mr. Szubski’s colleagues say he’s a team player who leads by example. Sonia Salvino, vice president for finance at University Hospitals’ Case Medical Center, said in the nomination that Mr. Szubski was more than just a number cruncher. “It’s not enough to be good with numbers,” Ms. Salvino said. “When you have a sound person with sound integrity, you gain trust in their financial advice and counsel.” Prior to joining University Hospitals, Mr. Szubski served as executive vice president and CFO at EMH Regional Healthcare System. He’s also served as vice president of operations at United Healthcare of Ohio Inc. as well as assistant vice president and controller at Mount Sinai Medical Center. Mr. Szubski, who grew up in Parma, lives with his wife and four children in Brecksville, where he also coaches for his son’s youth football team.
DID YOU KNOW? ■ University Hospitals performs more than 4.5 million outpatient procedures and completes nearly 63,000 inpatient discharges annually. ■ The University Hospitals system includes University Hospitals Case Medical Center, a 1,000 bed academic medical center. ■ The health system owns and operates six wholly-owned suburban medical centers and 10 ambulatory health care centers. ■ UH Case Medical Center ranked prominently among the top hospitals in the country in seven specialties in U.S. News & World Report’s latest hospital rankings. UH Case Medical Center ranked in top 50 hospitals in the following categories: orthopaedics (No. 21); gastroenterology (No. 28); geriatrics (No. 28); cancer (No. 34); ear, nose and throat (No. 37); pulmonology (No. 42); and gynecology (No. 48).
ANDREW TANNER THE NRP GROUP LLC Garfield Heights NUMBER OF EMPLOYEES: 300 2009 REVENUE: $104.4 million
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ob One for a residential real estate developer in the face of the housing crisis is getting the financing to build new housing. But NRP Group LLC in Garfield Heights is doing it and CFO Andrew Tanner is playing a major role. Since 2000, when Mr. Tanner joined the developer, general contractor and property manager, NRP has grown from $50 million in annual sales to $104 million. Founded in Cleveland in 1995, NRP had a five-person financial staff and 48 employees when Mr. Tanner came on board. Since
then, he has developed financial systems that have allowed the 300person company, including a financial staff of 20, to grow to where NRP now manages a portfolio of more than 8,000 units in 74 properties, with another 1,975 planned in 2010. NRP builds multifamily affordable housing, senior housing and infill single-family homes across the country, usually in partnership with local governments, financial institutions and neighborhood groups. Mr. Tanner plays a critical role in structuring complex financing that includes low-income housing tax credits and tax-exempt bonds. He also leads NRP’s strategic planning initiatives, including all annual operating plans. “Mr. Tanner led the NRP Group
to double-digit profits for the past few years while branding the NRP Group as one of, if not, the number one developer of affordable housing in the country,” the nomination said. Mr. Tanner also is credited with securing a $17 million credit line at a time when real estate financing was scarce. He came to NRP from Medimetrix Consulting, a Clevelandbased management consulting firm. Before that he served in various financial- and accountingrelated capacities with Ernst & Young, Arthur Andersen LLP and John O. Butler Co., a maker of toothbrushes that now is a part of Sunstar Inc. Mr. Tanner earned a bachelor’s degree in business administration
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DID YOU KNOW? ■ Founded in 1995 as a full-service developer, general contractor and property manager, The NRP Group has offices in Cleveland, San Antonio, Phoenix and Raleigh, N.C. ■ It has built more than 13,500 multi-family and single-family housing units, and more than 2,275 were planned for this year. ■ In 2003, the owners formed NRP Management, which by year’s end will manage nearly 70 properties encompassing more than 7,500 market-rate and tax-credit family and senior apartment properties. SOURCES: NRPGROUP.COM; CRAIN’S RESEARCH
from Bowling Green State University and a master’s degree in business administration from the University of Chicago.
2010 CFO OF THE YEAR AWARD
“Jim is the primary reason Jo-Ann Stores was recently recognized by Forbes as one of the 100 Most Trustworthy Companies in America.” -Darrell Webb, CEO
We congratulate Jo-Ann Fabric and Craft Stores® CFO Jim Kerr and all of this year’s CFO of the Year finalists for their vision and fortitude in challenging economic times.
Jim Kerr Chief Financial Officer Jo-Ann Fabric and Craft Stores®
SOURCES: UHHOSPITALS.ORG; CRAIN’S RESEARCH
©2010 Jo-Ann Stores, Inc. All rights reserved.
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