Ousted hospital CEO to get million-dollar payout
The doctor and hospital CEO who came under fire for taking a Caribbean vacation will get a payout as high as $1 million after losing his job.
The Hamilton Spectator is reporting that Dr. Tom Stewart, who lost his job as CEO of St. Joseph's Health System on Jan. 7, is entitled to 24 months' pay over 24 months.
Stewart took a vacation to the Dominican Republic in December.
In a statement obtained by The Spec, St. Joseph's board chair Sister Anne Anderson says the hospital and Stewart pated ways on a without-cause basis.
Stewart's vacation request was approved by the board, so all of the terms of his contract will be upheld, but it's not clear if the board approved Stewart's international travel.
The newspaper is reporting that Stewart's annual base salary was $552,500 with performance pay of $97,500.
The payout ends early if Stewart finds another job and he must search for new employment.