Compensation Issues

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Tenet's new CEO gets pay raise: 6 things to know

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Saum Sutaria, MD, became Tenet Healthcare's new CEO on Sept. 1, and he'll receive higher total compensation than during the years he served as the Dallas-based company's COO. 

Six things to know: 

1. Dr. Sutaria, who began serving as Tenet's COO in 2019, received a base salary of $1 million in 2020. In his new role, Dr. Sutaria's salary will be $1.2 million, according to a Sept. 3 filing with the Securities and Exchange Commission.

2. As CEO, Dr. Sutaria will be eligible to receive an annual incentive bonus of at least 125 percent of his base salary. 

3. Dr. Sutaria will receive annual equity awards beginning in fiscal year 2022. 

4. Dr. Sutaria is succeeding Ronald Rittenmeyer as CEO of Tenet. Mr. Rittenmeyer will serve as executive chair of Tenet and the board through the end of 2022 and as an adviser to the board and the company's CEO from Jan. 1, 2023, through Dec. 31, 2024. 

5. From Sept. 1, 2021, through the end of 2022, Mr. Rittenmeyer will receive a base salary of $1.5 million and will be eligible to receive an annual bonus of at least 150 percent of his base salary. From Jan. 1, 2023, through the end of 2024, he will receive an annual retainer of $750,000.

6. Mr. Rittenmeyer will be eligible for a $5 million retention bonus Dec. 31, 2024, if he continues to be employed by the company until that time. 

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