Mr. Smith and Mr. Cash each missed their financial and operating targets in 2016, according to a recent Securities and Exchange Commission filing. Mr. Smith attained 13 percent of his performance goal last year, resulting in $640,000 in incentive compensation, while Mr. Cash received $255,000 for reaching 15 percent of his goal.
Both executives received no raise in base salary this year. Since 2015, Mr. Smith’s base salary has remained at $1.6 million, while Mr. Cash’s has stayed at $850,000. The CEO and CFO both joined CHS in 1997, and Mr. Cash will retire May 16.
CHS had a rocky 2016 financially. The company ended the year with a net loss of $1.7 billion, compared with net income of $158 million in 2015. To improve its finances and trim its debt load, CHS is selling off 25 hospitals.
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