Published March 2004

Stevens Hospital CEO fired, to get $2 million package

SCBJ Staff

Stevens Hospital chief executive Steve McCary, whose 14-year tenure ended with a unanimous vote from the hospital board, will walk away from his job with a severance package worth more than $2 million, officials for the Edmonds hospital said recently.

McCary’s contract termination was effective Feb. 29. No specific reason was given for the board’s action.

Board President Fred Langer acknowledged that the compensation package involved a lot of money for a hospital that ended last year with an estimated $2 million operating loss.

Dr. John Todd, the hospital’s medical director, will take over as acting chief executive of the taxpayer-supported hospital.

McCary has a severance deal that calls for him to be paid $1.18 million over the next seven years, hospital attorney Brad Berg said. McCary also will receive deferred compensation of $921,049 in retirement money, Berg said.

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