Dallas-based Tenet CEO Saum Sutaria was paid 305 times more than the health system's median employee in 2023, according to a proxy statement filed April 12 with the Securities and Exchange Commission.
The 2023 annual total compensation of Tenet's median compensated employee was $60,633, according to the report. Dr. Sutaria's total compensation was $18,518,109. The ratio of these amounts is 305 to 1.
Tenet identified the median compensated employee using total gross wages earned during calendar year 2023 for all employees who were employed for all of the year. Pay was annualized for permanent employees not employed for a full year in 2023. The health system had 103,836 employees as of Dec. 31. The system excluded approximately 3,430 of those employees who were employed in the Philippines, as permitted by SEC rules.
After Dr. Sutaria, former CFO Dan Cancelmi and chief administrative officer Tom Arnst were the highest earners at Tenet in 2023. They were paid $9,272,504 and $3,672,298, respectively. Mr. Cancelmi retired at the end of 2023.
The SEC requires public companies to disclose how CEO pay stacks up with the median employee's overall compensation each year.
In 2022, Tenet's CEO-to-worker pay ratio was 189 to 1, according to that year's SEC filing.