COLORADO SPRINGS, Colo. (CBS4) – Colorado Springs city leaders are fired up over the $1 million separation agreement for Memorial Health System’s CEO.
Mayor Steve Bach talked about the proposed deal on Saturday. The settlement is almost triple what city leaders say is typical of a severance package.
Memorial Hospital CEO Larry McEvoy is leaving and to compensate he’ll be getting $1 million in severance. That’s roughly 18 months worth of pay. He’ll get another $70,000 for unpaid time off and $20,000 more to help find a new job.
City Councilman Tim Leigh was one of the first to bring up issues with the agreement, saying McEvoy’s contract only stipulates six months severance.
“What I would like to see is to have this whole issue put on immediate stop and have this come back to council in a formal session and have each councilor vote on whether they want to have Dr. McEvoy get a $1 million exit bonus or not.” Leigh said.
It seems the mayor agrees. In a statement released Saturday Bach said, “In the event the MHS board does not promptly comply with council’s directive after your vote, then I respectfully suggest that council terminate the entire board, substitute council as the board and reduce the severance to no more than six months.”
A special city council session will be held Tuesday to discuss the situation.