The Ann & Robert H. Lurie Children’s Hospital of Chicago said Thursday that its president and CEO, Patrick Magoon, plans to retire after 42 years of service, including 22 years in the top leadership role.

The hospital’s executive committee has unanimously nominated Dr. Thomas Shanley as Magoon’s successor. Shanley’s name will be presented for approval to the hospital’s board of directors at its annual meeting Dec. 5.

Lurie Children’s, the former Children’s Memorial Hospital, said Magoon will support the transition as emeritus CEO for one year beginning Jan. 1, 2020.

Shanley is chair of pediatrics at Northwestern University Feinberg School of Medicine and president and chief research officer at Lurie’s Stanley Manne Children’s Research Institute.

Magoon started at Lurie as an intern in 1977. As CEO, he led a financial turnaround and supervised the hospital’s move from Lincoln Park to Streeterville in 2012.

“It has been a tremendous privilege to serve on behalf of the children and families who come to Lurie Children’s for the excellent care and compassionate service,” Magoon said.

“The hospital’s growth and the recent move of the Manne Research Institute to the downtown campus are significant milestones towards our vision to create a healthier future for every child. The Executive Committee and I are confident that Dr. Shanley is the right person to build on this momentum and lead the advancement of pediatric medicine and science.”

“It is truly an honor to be asked to lead this prestigious hospital,” Shanley said. “I want to thank Pat for his mentorship, exceptional service to this institution, and his dedicated advocacy for children’s health locally and nationally. I am fortunate to have him as an invaluable advisor during the transition process.”