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DETROIT: DMC CEO Mike Duggan to make $2.41M

Detroit Free Press, November 7, 2011

Detroit Medical Center CEO Mike Duggan's total compensation this year from Vanguard Health Systems, the private health care company that bought the DMC, is $2.41 million in pay, bonuses and several years of stock options, up from the $1.98 million in 2009 when DMC was a nonprofit, according to public documents. About $1.3 million of Duggan's total compensation is in stock options that he would start receiving next year through 2019, the documents show. In an exclusive interview Tuesday, Duggan said he and his wife plan to create a foundation next year to hold the stock earnings, after taxes, for scholarships for children of DMC employees. The package also calls for Duggan to get $1 million if he's fired or $5 million if Vanguard sells the DMC to another company -- fairly common conditions in contracts, experts said.