UA Healthcare interim CEO Kevin Burns received a severance package worth approximately $1.7 million when he vacated his position last week, according to a report by the Arizona Daily Star.
Mr. Burns' contract specified that he qualified for two years' base pay and benefits when he left his position. According to the report, his annual base pay as interim CEO totaled $620,000.
Mr. Burns left his position following a reorganization plan that now requires the system CEO to hold an academic background. The change comes from a dispute between the university regents and state lawmakers, according to the report. UA Healthcare was created last July when University Medical Center Corp. merged with University Physicians Healthcare, creating a $1.2 billion non-profit organization that staffs approximately 6,000 employees and includes two hospitals.
Mr. Burns is one of six high-level UA Healthcare executives who have left the organization since last year's merger. Prior to being named interim CEO of UA Healthcare, he served as CEO of UMC Corp., where he earned a base salary of $530,000, according to the report.
Read the Arizona Daily Star report on Kevin Burns' severance package.
Read more on compensation:
-3 Key Trends in Physician Compensation Design
-18 Statistics on Registered Nurse Bonuses
-Republican Councilmen Question Salaries, Bonuses at Cleveland's MetroHealth
Mr. Burns' contract specified that he qualified for two years' base pay and benefits when he left his position. According to the report, his annual base pay as interim CEO totaled $620,000.
Mr. Burns left his position following a reorganization plan that now requires the system CEO to hold an academic background. The change comes from a dispute between the university regents and state lawmakers, according to the report. UA Healthcare was created last July when University Medical Center Corp. merged with University Physicians Healthcare, creating a $1.2 billion non-profit organization that staffs approximately 6,000 employees and includes two hospitals.
Mr. Burns is one of six high-level UA Healthcare executives who have left the organization since last year's merger. Prior to being named interim CEO of UA Healthcare, he served as CEO of UMC Corp., where he earned a base salary of $530,000, according to the report.
Read the Arizona Daily Star report on Kevin Burns' severance package.
Read more on compensation:
-3 Key Trends in Physician Compensation Design
-18 Statistics on Registered Nurse Bonuses
-Republican Councilmen Question Salaries, Bonuses at Cleveland's MetroHealth