Lee Memorial CFO Suggests Slashing Management Bonuses

Mike German, CFO of Lee Memorial Health System in Fort Myers, Fla., has proposed ending management bonuses and incentives as part of the health system's budget for 2013, according to a News-Press report.

Over the next five years, Lee Memorial is looking to cut $125 million from its budget, and the 10-year-old management bonus program known as the Leadership Pay Plan could be on the chopping block.

The LPP awards incentives and bonuses — ranging from thousands to hundreds of thousands of dollars — to managers, supervisors and other executives who meet profitability goals, according to the report. In 2011, the program dished out roughly $1.6 million in bonuses.

Lee Memorial's board of directors is expected to review the proposal this week.

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