Though Mr. Smith, who has helmed CHS since 1997, will no longer be CEO, he’ll still serve as executive chair of the board of directors. He’ll earn $1 million per year in that role, according to the Nashville Business Journal, which cited filings with the Securities and Exchange Commission.
Mr. Smith’s base salary was $1.6 million last year, but his compensation totaled more than $8 million after adding in bonuses and stock options, according to the report.
Mr. Hingtgen, who served the last four years as president and COO of CHS, will have a base salary of $1.2 million once he steps into the CEO role, according to the report. He was paid $1 million as the company’s COO.
More articles on compensation:
Why pay for public hospital CEOs is kept secret in Indiana
Advocate Aurora to give $66M in employee bonuses
RN pay in 2020: 7 things to know
