With all 108 precincts reporting in Santa Clara County, Calif., voters have approved Measure M, a ballot initiative that would cap the compensation of executives at El Camino Hospital in Mountain View, Calif., to no more than twice the salary of California's governor.
Roughly 51.9 percent of voters (24,650 total) voted "yes" on Measure M, while 48.1 percent (22,833 total) voted "no." A simple majority was required.
Based on most recent figures, this would mean El Camino Hospital executives could earn no more than roughly $330,000 (Gov. Jerry Brown's more recent base salary is $165,000, lower than the $174,000 a year before.)
Measure M became a possibility over the past year when El Camino Hospital hired Tomi Ryba as CEO. Her annual base salary is $695,000, and she could earn performance bonuses up to 30 percent of that base figure. The Service Employees International Union-United Healthcare Workers West gathered thousands of signatures to put the issue on yesterday's ballot during a labor dispute with the hospital.
Roughly 51.9 percent of voters (24,650 total) voted "yes" on Measure M, while 48.1 percent (22,833 total) voted "no." A simple majority was required.
Based on most recent figures, this would mean El Camino Hospital executives could earn no more than roughly $330,000 (Gov. Jerry Brown's more recent base salary is $165,000, lower than the $174,000 a year before.)
Measure M became a possibility over the past year when El Camino Hospital hired Tomi Ryba as CEO. Her annual base salary is $695,000, and she could earn performance bonuses up to 30 percent of that base figure. The Service Employees International Union-United Healthcare Workers West gathered thousands of signatures to put the issue on yesterday's ballot during a labor dispute with the hospital.
More Articles on Hospital Executive Compensation:
Local Editorial: Executive Pay Measure at El Camino Hospital Should Be Buried
El Camino Hospital in California Spends $149k to Defeat Executive Pay Ballot Measure
El Camino Hospital Executive Salary Cap Proposal to Appear on November Ballot