Data on Mr. Covert’s salary is included in the growing database of government compensation information, compiled by state Controller John Chiang. Mr. Covert, who has served as CEO of Palomar Pomerado since 2003, told the L.A. Times that the database does not take into account the various duties and responsibilities of top executives, and a compensation firm should be consulted to determine whether agencies have compiled and reported salary information in the same way.
In addition to his 2009 base salary of $574,000, Mr. Covert received a $350,000 bonus, a $15,000 auto allowance and a $93,000 contribution to his pension fund, according to the report. The second-highest paid hospital executive in California — the CEO of Washington Township Healthcare District in Fremont — made $162,000 less than the Palomar executive.
Controller Chiang’s database is expected to be completed later this year, when the final special districts will be added along with figures for state employees.
Read the L.A. Times report on Michael Covert.
Read more on compensation:
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–Hazel Hawkins Memorial Hospital CEO Brought Home $273K in 2009
–Bonuses Increased Pay by 73% for Michigan’s McLaren Health CEO
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