Elizabeth Nabel, MD, president of Boston-based Brigham and Women's Hospital, does not go light on the extracurriculars. In addition to commanding the helm at Brigham, Dr. Nabel also serves in leadership roles for three other organizations — for each of which she is paid, according to The Boston Globe.
Dr. Nabel, who has served as president of Brigham and Women's since 2010, earned a salary of $1.3 million in 2013 to run the hospital. Last year, the National Football League hired her for an undisclosed amount of money to serve as its lead medical consultant. She also earns $175,000 annually plus stock as a board member of Dublin, Ireland-based Medtronic, and a confidential salary as a director for a Cambridge biotechnology company, according to the report.
While many other CEOs of large nonprofit hospitals hold other positions, Dr. Nabel stands out for the number of paid positions she has, especially in Boston. According to a Boston Globe Survey, the city's hospitals have adopted a range of practices and policies on CEOs taking on outside work, with most leaning toward limiting such roles. For instance, Beth Israel Deaconess Medical Centerprohibits its CEO from holding outside paid positions. Boston Medical Center limits CEO Kate Walsh to one paid board membership because of other time commitments. Boston Children's Hospital CEO Sandra Fenwick volunteers on several boards, but does not hold additional paid positions.
But Brigham trustees approved Dr. Nabel's positions because they say the additional jobs help her build her business acumen. The trustees also closely monitor her hours. Scott Sperling, board chairman and co-president of the Boston investment firm Thomas H. Lee Partners, said Dr. Nabel's outside jobs ultimately benefit the hospital, especially her position with the NFL, which he deemed one of the highest-profile organizations in the world. "That has been very helpful in terms of the overall Brigham profile," he said, according to the report.
Mr. Sperling added that Dr. Nabel's extracurriculars allow her to gain experience in how both large and small companies are managed. "It has great value to us in terms of broadening her skills as a CEO," said Mr. Sperling, according to the report.