The amount covers Mr. Levy’s base salary for two years, what is left of his contract. The board described Mr. Levy’s exit as a “negotiated departure” rather than a voluntary resignation, as it was described earlier. An expert in such agreements told the Globe that severance is used when a chief executive is asked to leave or when both sides agree it’s best to leave.
The board said Mr. Levy’s departure had nothing to do with investigations into his relationship with a female employee, which the board concluded last year was a “lapse in judgment,” fining him $50,000.
In response to news of the severance package, the state’s largest healthcare union, 1199SEIU, called on the hospital board to rescind the agreement, claiming it it would divert “massive amounts of scarce public dollars.”
Read the Boston Globe report on Beth Israel Deaconess Medical Center.
Read more coverage of Paul Levy:
– Paul Levy Resigns as Head of Boston’s Beth Israel Following Controversial Year
– Massachusetts Attorney General’s Report Criticizes Beth Israel Deaconess Board for Allowing CEO’s Inappropriate Relationship to Continue
– Massachusetts’ National Organization of Women and SEIU Chapters Call for Beth Israel Deaconess Medical Center to Fire CEO
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