SAN DIEGO – Richard Rothberger, corporate executive vice president and chief financial officer of Scripps Health, has been named CFO of the Year in the large not-for-profit category of the San Diego Business Journal’s 2009 CFO of the Year Awards.
Since joining Scripps in 2001, Rothberger has helped the nonprofit health system navigate a remarkable financial turnaround, steering Scripps from annual operating losses of $15 million upon his arrival to an annual operating margin of $100 million. This $115 million turnaround has been sustained for several years and has helped Scripps earn A+ bond ratings from Standard & Poor’s and Fitch and an A1 rating from Moody’s.
Restoring its financial health has enabled Scripps to advance patient care by investing in its facilities, technology, workforce and community. Scripps is now at the beginning of a $2 billion growth and expansion plan across the region and has recently branched into leading-edge research areas such as genomics, translational science and wireless medicine. Scripps has also been named to top national workplace lists by Fortune magazine, AARP and Working Mother magazine. And in 2008, Scripps invested more than $287 million in community benefit programs, a figure that has grown steadily during Rothberger’s tenure.
In addition to overseeing Scripps’ corporate finance, capital planning, payer contracting, supply chain and revenue management, Rothberger advises the Scripps leadership team on investments, real estate and facilities design and construction.
The San Diego Business Journal’s CFO of the Year Awards program recognizes the most outstanding CFOs in San Diego County, as selected by an independent panel of judges.