Erlanger's new CEO Kevin Spiegel will make a $680,000 salary and receive a $50,000 sign on bonus, according to the contract approved by the hospital's Board of Trustees tonight.
Spiegel's contract will start April 1 and will initially run three years, with an automatic one-year renewal afterwards.
Spiegel's predecessor, Jim Brexler, was paid $550,000 annually. Erlanger's current interim CEO, Charlesetta Woodard-Thompson, makes $486,737.
The board approved Spiegel as new CEO in a 5-3 vote on Feb. 18, finishing a search process that began after former CEO Jim Brexler stepped down under pressure from the board in December 2011.
Spiegel has been a CEO at Methodist University Hospital, part of Methodist-Le Bonheur Healthcare in Memphis, for the past five years.
For more information, read Friday's Times Free Press.