TribLIVE

| Business

 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

UPMC chief's bonus, salary down

Email Newsletters

Click here to sign up for one of our email newsletters.

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

Top paid

The next five highest paid employees after Romoff were:

• Dr. Ghassan Bejjani, neurosurgeon, $2.5 million.

• Elizabeth Concordia, president of UPMC's Hospital and Community Services division, $2.5 million.

• Daniel Drawbaugh, chief information officer, $2.2 million.

• Gregory Peaslee, chief human resources officer, $2.1 million.

• Dr. James Luketich, thoracic surgeon, $2 million.

Daily Photo Galleries

Friday, May 17, 2013, 12:01 a.m.
 

UPMC CEO Jeffrey Romoff's base salary and bonus were cut in 2011, but his overall compensation was higher than the previous year, according to the nonprofit hospital network's latest tax returns.

Romoff, 67, made $4.3 million in base salary, bonus and other compensation in 2011, a 22 percent drop from $5.5 million the previous year.

The lower cash payments to Romoff may come as a surprise given UPMC's notable financial success in recent years.

Asked if UPMC's board of directors was unhappy with Romoff's performance, spokeswoman Susan Manko said, “No. Part of his bonus was deferred.”

Romoff's bonus was $2.9 million, down from $3.7 million the year before. His salary of $958,992 also was lower — down from $959,210.

Romoff's total compensation, which includes the value of retirement accounts and other benefits, was $6.1 million, a 3 percent increase from the previous year's total of $5.9 million.

The federal government requires tax-exempt organizations such as UPMC to file public tax returns. The filings disclosed on Thursday cover the financial year that ran from July 1, 2011, to June 30, 2012. But base salary, bonus and other compensation figures for top-paid employees are for the 2011 calendar year. Retirement payments, deferred compensation and other benefits are reported for the financial year.

UPMC's financial performance for the 2012 financial year was strong. The system posted revenue of $9.6 billion, with income from operations of $351.3 million and net income of $220.7 million.

The salaries for Romoff, who leads the dominant health system and largest employer in Western Pennsylvania, and other UPMC executives have been criticized recently by Pittsburgh Mayor Luke Ravenstahl and others. Ravenstahl mentioned the salaries when he announced a lawsuit the city filed in March challenging UPMC's tax-exempt status.

In addition to Romoff, 21 UPMC executives were paid more than $1 million in 2011, tax returns show.

UPMC competitor West Penn Allegheny Health System on Tuesday released its tax returns showing that former CEO Christopher Olivia received total compensation of $6 million in 2011, a figure that included retirement and severance payments. Olivia, who stepped down from the financially troubled system in June 2011, was one of eight executives to receive more than $1 million.

Alex Nixon is a staff writer for Trib Total Media. He can be reached at 412-320-7928 or anixon@tribweb.com.

Add Alex Nixon to your Google+ circles.

Subscribe today! Click here for our subscription offers.

 

 

 


Show commenting policy

Most-Read Business Headlines

  1. U.S. adds 173,000 jobs in August, dropping unemployment rate to 5.1 percent
  2. Alcoa putting $60M into Upper Burrell tech center expansion
  3. Fifth Third Bank selling Pittsburgh branches to First National
  4. NexTier Bank buys Oakland’s Eureka to increase coverage in Western Pennsylvania
  5. Robust jobs report could force Federal Reserve to raise interest rates
  6. Indian SUV maker Mahindra to debut electric scooter in U.S.
  7. PPG’s new CEO to push organic growth with existing clients
  8. ModCloth gets physical
  9. Stocks end roller-coaster day higher
  10. Shale gas violations down as DEP steps up inspections
  11. Trib Total Media puts 9 Western Pa. newspapers up for sale