DETROIT, Jan. 20, 2011 /PRNewswire/ -- Bloomfield resident Joseph Walsh has been named CEO of the 20-person DMC Legacy Board, Chairman Keith E. Crain announced today.
(Photo: http://photos.prnewswire.com/prnh/20110120/DE33450 )
As a result of the sale of the non-profit Detroit Medical Center to the for-profit Vanguard Health Systems, the DMC Legacy Board was created to oversee Vanguard's contractual commitments and develop an asset transfer agreement to help fund two charitable foundations that will manage DMC's estimated $140 million in charitable contributions.
Vanguard is investing $850 million over five years in about 20 projects, including a new tower at DMC's Children's Hospital of Michigan, a cardiovascular institute at Harper University Hospital and Hutzel Women's Hospital and expansion of the emergency department at Sinai-Grace Hospital.
Walsh, a retiree of Ford Motor Company, was one of three co-chairs of Detroit Mayor Dave Bing's turnaround team.
Walsh left Ford in 2000 after 30 years with the automaker, most recently as president, Ford Credit Asia Pacific in Melbourne, Australia. For the past 10 years, Walsh has run a consulting business, JWC3, LLC. The company provides support to c-level executives at companies such as CMS Energy, Ford and University of Detroit-Mercy.
"Joe's strong financial management and organizational skills will help guide the board as we work our way through the transition from DMC leadership to Vanguard management. His 'can-do' attitude will help ensure that all the proper processes are put into place," said Crain.
Walsh is a graduate of the University of Detroit with a bachelor's degree in management science and a MBA degree in accounting. He currently serves on the boards of directors of the Detroit Science Center and the Homeless Action Network of Detroit.
Walsh will be headquartered at Orchestra Place, 3633 Woodward Avenue, 5th floor, Detroit.
SOURCE DMC Legacy Board
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