Tomislav Mihaljevic, M.D., has been selected as the next President and CEO of the Cleveland Clinic hospital system, succeeding Tody Cosgrove, M.D., on Jan. 1, 2018.

Dr. Mihaljevic, 53, has specialized in cardiac proceudures since joining the Clinic in 2004, helping it become the world's largest provider of robotic heart surgeries. A native of Croatia, he has served as CEO of Cleveland Clinic Abu Dhabi since 2015.

“Though healthcare is in the midst of a major transformation, Cleveland Clinic is very well positioned for the future,” Mihaljevic said in a written statement. “Our ongoing success will hinge on our ability to maintain high-quality outcomes, while reducing healthcare costs, encouraging innovation, and improving access and affordability for patients.”

Mihaljevic's selection as CEO was a unanimous one made by the Boards of Governors and Directors. While Chairman Robert E. RIch Jr. says he will miss CEO Cosgrove after 13 years, he believes Mihaljevic has what it takes to continue the Clinic's success.

“By nearly every measure – quality, accessibility, finances, innovation, reputation – Cleveland Clinic has made unprecedented strides since Dr. Cosgrove became CEO and president in 2004, "Rich said. "Following in his footsteps would be challenging for anybody, but Dr. Mihaljevic has the background, skills and vision to move Cleveland Clinic forward to even greater heights.”

The Cleveland Clinic has seen its revenues more than double since Cosgrove took over as CEO, with new hospitals being built around the country and the world (including London in 2020). Cosgrove will step into an advisory role upon Mihaljevic's official promotion to the position.

“While I may be stepping aside as president and CEO, I will not be leaving Cleveland Clinic behind,” Cosgrove said. “No place else functions quite like Cleveland Clinic, with its physician-driven, patient-centered ethos that encourages clinical excellence, medical education, research and innovation. I look forward to working with Dr. Mihaljevic in any way that I can to further the Cleveland Clinic mission.”

WATCH: WKYC Channel 3's Senior Health Correspondent Monica Robins sat down with Dr. Mihaljevic for an extended interview. You can watch the two-part discussion below: