Wednesday, March 21, 2012

No retention bonuses for Memorial brass

Posted By on Wed, Mar 21, 2012 at 1:30 PM


Memorial Health System executives won't be enticed to stick around with retention bonuses, Memorial's Board of Trustees decided today.

That should make Councilor Tim Leigh happy. When the prospect arose some weeks ago, he said, "Good riddance." Other Councilors expressed concern about losing the top tier of managers from Memorial at such a critical time.

Trustees took up the issue after realizing they could lose top leaders who won't play a role in the new lease with the University of Colorado Health System, which is currently negotiating a lease to run Memorial for at least the next 40 years. The lease is expected to be submitted to voters for approval in August.

After a closed session this morning, Trustee Chair James Moore issued this statement:

Following conversations with the executive team, the Memorial Health System Board of Trustees has decided not to pursue an executive retention plan at this time.

  • Moore

A retention plan was originally considered to address the risk of leadership instability Memorial faces during the anticipated transition to University of Colorado Health.

The Board, after consulting with executives and hearing from staff, believes that stability is achievable without a retention incentive.

The Board recognizes that the executive team is committed to helping Memorial through this time and thanks these leaders for their support and dedication.

Keeping Memorial strong and healthy through this transition remains a top priority for this Board and executive team, and it is a goal we share with City Council and Mayor Steve Bach.

Those who would have been included in such a plan are CEO Larry McEvoy, Strategic Officer Carm Moceri and CFO Mike Scialdone.

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