KAISER: Cuts CEO’s Salary In Wake Of 1997 Loss
Kaiser Permanente Corp. "cut its chief executive's compensation after the company reported its first loss," Bloomberg News/Los Angeles Times reports. CEO David Lawrence "said he won't receive a bonus this year because" the managed care company posted a $270 million loss for 1997. However, Lawrence "declined to say how much his pay was cut." Last year, the Bloomberg/Times notes, he "earned $1.22 million, according to state regulatory filings" (4/8).This is part of the California Healthline Daily Edition, a summary of health policy coverage from major news organizations. Sign up for an email subscription.