New WellStar CEO to earn $975K in base pay
by By Jon Gillooly
jgillooly@cherokeetribune.com
August 18, 2011 11:59 PM | 8162 views | 4 4 comments | 20 20 recommendations | email to a friend | print
WellStar Health System’s Board of Trustees unanimously selected Reynold J. Jennings of Kennesaw as the system’s next president and CEO on Thursday.<br>Cherokee Tribune/File
WellStar Health System’s Board of Trustees unanimously selected Reynold J. Jennings of Kennesaw as the system’s next president and CEO on Thursday.
Cherokee Tribune/File
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MARIETTA — WellStar Health System’s Board of Trustees unanimously selected Reynold J. Jennings of Kennesaw as the system’s next president and CEO on Thursday.

“We’re very excited to have someone of his talent and his capability, someone that’s within our community, someone that understands what it takes to take our system to a new level,” said Randall Bentley, chairman of WellStar’s board of trustees. “We’re very, very excited.”

Jennings, who reports to work on Monday, received a standing ovation from the board after they voted to hire him.

“I appreciate that vote of confidence,” Jennings said. “I’m real excited about the opportunity to start Monday.”

He received a five-year contract composed of an initial term of three years and two one-year renewal options.

The contract pays an annual base salary of $975,000, in addition to a bonus that could range from 35 to 65 percent of his annual salary, depending on his performance, Bentley said.

By comparison, Bentley said WellStar’s last CEO, Dr. Greg Simone, earned a base salary last year of $900,000.

Other benefits included in Jennings’ contract are:

n Thirty annual paid vacation days, in addition to six holidays.

n Payment for time lost from a serious health condition with proper medical certification.

n Annual automobile allowance: $12,000.

n Annual cell phone allowance: $2,400.

n Annual physical exam allowance: $800.

n Annual financial planning/tax preparation services: $3,000.

n Because Jennings has existing medical and dental coverage and did not want to participate in the benefits plan offered by WellStar, WellStar will also pay him an annual $12,000 allowance for this reason.

The contract also provides for life insurance, a retirement savings plan and long-term disability benefits.

A native of Dalton, Jennings, 65, had his first job after earning a degree in pharmacy at the University of Georgia working for former Marietta Mayor Bill Dunaway at the Dunaway Drugs in his hometown. As chief operating officer of Tenet Healthcare from February 2004 to December 2006, Jennings was responsible for operations of Tenet’s 69 core acute hospitals and other facilities in 13 states. He spent a total of 10 years with Tenet holding various positions, including vice chairman of Tenet Healthcare Corporation from January to August 2007.

Jennings and his wife, Patsy, have been married for 44 years. They are members of the First United Methodist Church of Marietta, where he is immediate past chair of the Church Council and Patsy is a member of the altar guild. The couple has three children and seven grandchildren, all of whom live in Cobb County.

Jim Budzinski, who has served as WellStar’s interim CEO since the board abruptly fired Simone in September, and who also applied for the CEO position, now returns to his role as executive vice president and chief financial officer.

“It was a hard search,” Bentley said. “I mean, I spent a lot of time, and so did members of our search committee. I want to thank them for the time and effort they put in, as well as the other board members as far as taking their valuable time to make sure that a good selection was made and we’re in good and capable hands.”

WellStar, a not-for-profit health system, includes Cobb, Douglas, Kennestone, Paulding and Windy Hill hospitals; WellStar Medical Group; Urgent Care Centers; Health Place; Homecare; Hospice; Atherton Place; Paulding Nursing Center; and WellStar Foundation.
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CH1288
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September 17, 2011
This is sickening. I used to work for WellStar and what they payed me as a Certified Medical Assistant, AS WELL AS the deplorable conditions of some of their physician groups offices... this just makes me sick. i was paid 10 dollars and some odd change an hour. Countless supplies and needs were ignored because "it wasn't in the budget' Well it's nice to know where that "budget" went!
NiceJob
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September 15, 2011
$975,000 as a base salary with another $633,750 if he makes the 65% bonus. That's $1,608,750 a year. He gets 30 days paid vacation, so he's only working 11 months out of the year.

Break that down and you get $146,250 a month. He's probably out golfing on the weekends, so that leaves about 20 actual days a month to work. That comes out to $7,312.50 a day.

I'm sure he puts in a good 8 hours like the rest of us, so that's $914.06 per hour......about $76 every five minutes!

If he's a nice guy and walks down the hall to say "hi" to the hard working, minimum wage janitor cleaning the trash can, he'll make more in those five minutes than the janitor makes in a day!!!

.......and people say we spread the wealth in this country! HA

Laurie nadfnl
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August 19, 2011
Another CEO salary WAY out of control. Now we know WHY the cost of healthcare is rising. If I have a choice, any clinic, office, or hospital with the name "Wellstar" will never be it again,
PolecatMtn
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August 19, 2011
Talk about health care costs rising. This is almost pornographic. This guy gets more than Doctors working in the hospital. C'mon now, get real. Besides, Wellstar is one hospital organization that has a lousy reputation to boot. If you want to get good healthcare, go to Piedmont, Northside or St. Joe's. Going to Wellstar you have a greater chance of leaving toes up.
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