Southwestern Vermont Medical Center in Bennington, Vt., has agreed to pay its former CEO $640,000 in severance pay following his forced resignation, according to a report by the Bennington Banner.
Former CEO Harvey Yorke sued the hospital after he was forced to resign the position in March and was denied the severance payment outlined in his contract. Mr. Yorke claimed that the hospital board fired him after discovering the hospital was operating with a $1.3 million deficit, according to the report.
Mr. Yorke claimed that Southwestern Vermont Medical Center's parent company, Southwestern Vermont Health Care, kept the hospital from paying him the $27,000 monthly stipend that was outlined in his contract if he was removed without cause. Southwestern Vermont will now pay Mr. Yorke the $27,000 sum for 22 months in addition to a $50,000 flat payment to go toward finding other employment.
Mr. Yorke served as the CEO of Southwestern Vermont since 1991.
Read the Bennington Banner's report on the Southwestern Vermont Medical Center CEO.
Former CEO Harvey Yorke sued the hospital after he was forced to resign the position in March and was denied the severance payment outlined in his contract. Mr. Yorke claimed that the hospital board fired him after discovering the hospital was operating with a $1.3 million deficit, according to the report.
Mr. Yorke claimed that Southwestern Vermont Medical Center's parent company, Southwestern Vermont Health Care, kept the hospital from paying him the $27,000 monthly stipend that was outlined in his contract if he was removed without cause. Southwestern Vermont will now pay Mr. Yorke the $27,000 sum for 22 months in addition to a $50,000 flat payment to go toward finding other employment.
Mr. Yorke served as the CEO of Southwestern Vermont since 1991.
Read the Bennington Banner's report on the Southwestern Vermont Medical Center CEO.