Mr. Rittenmeyer began serving as executive chairman in August 2017, and took over as CEO when Tenet’s longtime leader Trevor Fetter stepped down from the role and resigned as a director of the company Oct. 23, 2017. Tenet’s board of directors chose Mr. Rittenmeyer to serve as CEO during the executive search.
While Mr. Rittenmeyer wasn’t CEO for the entire year, on an annualized basis, he would have made $102 for every $1 a median employee received. Median employees’ average annual compensation was $50,922 in 2017.
2018 marks the first year the Securities and Exchange Commission requires companies to include CEO pay ratios in their proxy statements under the Dodd-Frank Act of 2010.
Editor’s note: This article was updated April 4 at 1:30 p.m. CT.
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