Hutcheson CEO sees pay increase despite losses

Hutcheson CEO sees pay increase despite losses

January 27th, 2011 by Emily Bregel in Local - Breaking News

Despite Hutcheson Medical Center's deepening losses, the Fort Oglethorpe hospital's president and CEO has taken home a compensation package that's grown year after year, according to forms filed with the Internal Revenue Service.

In fiscal year 2009 Charles Stewart pocketed a $69,750 bonus, bringing his total compensation to more than $425,000 - the same year the hospital lost about $7.3 million, according to Hutcheson's 990 tax form and unaudited financial statements.

Stewart's base compensation was $331,752 that year, compared to the $550,000 base salary for Jim Brexler, president and CEO of Erlanger Health System in Chattanooga.

Brexler's bonus pay in fiscal year 2009, which for Erlanger ended June 30, 2009, was $198,000.

Stewart declined to comment on his compensation on Thursday. But Hutcheson Medical Center board chairwoman Martha Attaway said Stewart's bonus in fiscal year 2009 was actually based on the profit he helped bring about in fiscal year 2008, after many years of losses.

"Last year Mr. Stewart recommended that no increase be given to him since pay increases could not be given to other employees," she said in an e-mail.

For complete details see tomorrow's Chattanooga Times Free Press.