Lifespan’s nine highest-paid executives received a total of $9.4 million in compensation last year, the report said. George Vecchione, Lifespan’s president and CEO, took home $2.9 million in salary and benefits, with $1.49 million of that in deferred compensation. Timothy Babineau, MD, president and CEO of Rhode Island Hospital and The Miriam Hospital, both in Providence, earned $1.1 million in salary and benefits.
The union voiced its anger at the figures, especially as Lifespan announced it was cutting the matching contributions to the employee’s 403(b) Fidelity plans for 2011 and will be eliminating the matching contribution for 2012. According to the report, Lifespan’s board of directors said it places a priority on finding skilled leaders who can manage the large health system in all periods of economic activity.
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