Tri-City Medical Center in Oceanside, Calif., may soon split with CEO Tim Moran, according to a San Diego Union-Tribune report.
Here are six things to know about the issue.
1. Tri-City board members have tentatively decided to exercise the "termination at will" provision in Mr. Moran's contract.
2. Mr. Moran is not being fired for cause. Therefore, he would receive a severance payment of $525,000 or one year's salary, plus health and dental coverage for 12 months, if he accepts the offer from Tri-City, according to the report.
3. Tri-City board chairman James Dagostino did not disclose to the San Diego Union-Tribune why Tri-City has decided to split with Mr. Moran. However, Tri-City's chief marketing officer, David Bennett, told the publication more information will be made available at a later time.
4. The full Tri-City board is set to vote on the matter in open session March 17.
5. In the meantime, Steven Dietlin, CFO of Tri-City, is stepping in for Mr. Moran.
6. The hospital's decision to split with Mr. Moran comes less than two years after he was hired, and as a collaboration with UC San Diego Health System, which would bring university specialists to Tri-City and also provide access to new classes of patients through certain exclusive health insurance arrangements, is in progress, according to the report.
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