Detroit Medical Center CEO to Make $2.41M in Total Compensation

Detroit Medical Center CEO Mike Duggan is scheduled to make $2.41 million in salary, bonuses and several years of stock options this year, according to a Detroit Free Press report.

Mr. Duggan's total compensation this year is up from 2009, when he made $1.98 million, according to the report. Nashville, Tenn.-based Vanguard Health Systems, which bought DMC last year and turned it into a for-profit system, is now responsible for setting Mr. Duggan's pay, and roughly $1.3 million of his total compensation is in stock options that he can start receiving next year through 2019.

Mr. Duggan said he and his wife plan to start a foundation next year in which all of his stock option proceeds, post-tax, will help pay for scholarships for the children of DMC employees, according to the report.

Three other Michigan healthcare executives earn more per year than Mr. Duggan, according to the report. Philip Incarnati, president and CEO of Flint, Mich.-based McLaren Health Care, made $5.57 million in 2010; Joseph Swedish, president and CEO of Novi, Mich.-based Trinity Health, made $3.82 million in 2009; and Dan Loepp, president and CEO of health insurer Blue Cross Blue Shield of Michigan, made $2.75 million in 2010.

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