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Board approves $890,813 severance for CEO Webb and forms search committee; payment shifted to Metro judgment fund
Summary
The Hospital Authority Board approved a negotiated severance with CEO Dr. Webb for $890,813.26, a full release by Dr. Webb of related employment claims, and formed a CEO search committee to begin work in early April. Metro legal counsel said the payment will be made from Metro’s judgment and losses fund.
The Hospital Authority Board voted to approve a negotiated severance agreement with Dr. Webb and to establish a CEO search committee to begin work promptly.
Wally Dietz, Metro’s law director, told the board he personally negotiated the settlement with Dr. Webb’s attorney and explained why the $890,813.26 figure was reached. Dietz said the amount reflected a principal calculation plus compounded interest at 5% applied to a disputed supplemental retirement benefit claim. He said the negotiation produced concessions of value to Metro, including an immediate exit and a full release by Dr.…
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