President of Care New England announces his retirement

Markets Associated Press

The president of the state's second-largest health system has announced his retirement.

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Dennis Keefe has served as the president and chief executive officer of Providence-based Care New England since August 2011. Care New England said Monday that Keefe will retire Dec. 31.

James Fanale will become the interim president and chief executive officer. Fanale is currently the executive vice president, chief clinical officer and chief operating officer of Care New England.

Keefe plans to serve as a consultant to help with the transition.

In May, Care New England reported a $40 million operating loss for the first half of the fiscal year.

Keefe says despite recent difficulties, he's confident in "a future of sustained financial stability" for the system, which includes four hospitals.

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The state's largest health system is Lifespan.