Providence names new CFO amid financial turnaround
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Kevin Smith will become the nonprofit's new finance chief this fall, succeeding Greg Hoffman who retired in June. Name: Kevin Smith Previous title: Chief financial officer, SSM Health New title: Chief financial officer, Providence Health Smith will become finance chief of the nonprofit health system effective Oct. 26, Providence announced Wednesday. He's replacing Greg Hoffman, who retired this summer after almost a decade at the health system. Hoffman had served as Providence's CFO since 2021 after working multiple roles in the nonprofit, which operates 51 hospitals in the western U.S. As CFO, Smith will oversee Providence's operational strategy and financial performance, which suffered in the aftermath of the COVID-19 pandemic from staffing shortages and higher supply costs. Those challenges ate into Providence's financial health, leading the company to post losses in the past four fiscal years. Recently, though, Providence has made progress on its financial turnaround. In the first six months of its 2026 fiscal year, Providence posted a $400 million year-over-year improvement in operating income, the nonprofit announced this month. S&P Global Ratings upgraded Providence's credit outlook in May - though, the credit ratings agency noted the health system's "thin balance sheet." Smith currently serves as CFO of St. Louis-based Catholic health system SSM Health, a role he's...
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