New WellStar CEO to earn $975K in base pay
WellStar Health System's Board of Trustees unanimously selected Reynold J. Jennings of Kennesaw as the system's next president/CEO. He received a five-year contract composed of an initial term of three years and two one-year renewal options. The contract pays an annual base salary of $975,000, in addition to a bonus that could range from 35 to 65 percent of his annual salary, depending on his performance. WellStar's last CEO, Greg Simone, MD, earned a base salary last year of $900,000. Other benefits included in Jennings' contract are: 30 annual paid vacation days, in addition to six holidays; Payment for time lost from a serious health condition with proper medical certification; Annual automobile allowance: $12,000; Annual cell phone allowance: $2,400; Annual physical exam allowance: $800; Annual financial planning/tax preparation services: $3,000. WellStar will also pay Jennings an annual $12,000 allowance for this medical and dental insurance. The contract also provides for life insurance, a retirement savings plan and long-term disability benefits.
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