Tenet Healthcare Corp. Chief Executive Trevor Fetter, promoted to his post in September to turn around the hospital chain, received $6.12 million in compensation in 2003, the company disclosed Monday.
The firm's former CEO was granted a $1.3-million severance payment.
Fetter, 44, was paid a salary of $848,539, a bonus of $262,500 and additional compensation totaling $1.28 million, mostly a relocation reimbursement, the Santa Barbara-based company said in a regulatory filing. He also received $3.73 million in restricted stock and options to buy 350,000 shares at $14.98 a share by Sept. 15, 2013.
The severance for Jeffrey C. Barbakow, who resigned as chief executive last May under pressure from the board, was roughly equal to his annual salary when he left. Barbakow also received $585,231 in pro-rated salary for 2003 and $59,666 for automobile use.
Barbakow's compensation has been criticized by some shareholders, who have seen the company's stock plunge since October 2002 when Tenet's fortunes began to unravel.