Chesapeake Regional Healthcare CEO resigns

Dr. Peter Bastone, the president and CEO of Chesapeake Regional Healthcare, resigned Monday after three years with the hospital.

His last day at Chesapeake Regional will be March 31.

“It is with regret that I officially announce my resignation as president and CEO of Chesapeake Regional Healthcare,” Bastone said in a statement.

“After several years of commuting to my family, I’ve made a decision to identify opportunities that are more conducive of family life.”

Chesapeake Regional Chief Operating Officer, Dr. Alton Stocks, will immediately begin the transition into the position of interim president and CEO as the Chesapeake Hospital Authority begins a nationwide search for a successor.

During his tenure Bastone oversaw the creation of a new organizational strategic plan, sought out several strategic partnerships, initiated the creation of a clinically integrated network, transferred an operating room to Virginia Beach to create the new Chesapeake Regional Surgery Center of Virginia Beach, managed the organization’s rebranding and orchestrated the multi-million dollar financial turnaround of CRH from an operational loss in fiscal year 2014 to a profitable margin in fiscal year 2015.

“I want to thank Dr. Peter Bastone for his leadership through three years of dynamic change in the healthcare sector.  Thanks to his guidance, the hospital is well-positioned for a next chapter of growth,” Rhonda Bridgeman, chair of the Chesapeake Hospital Authority, said in a statement.