Rand O'Donnell - CEO, Children's Mercy Hospitals and Clinics in Missouri
Total Compensation: $5.98 million (2008)
Details: Rand O'Donnell was the highest paid non-profit hospital chief executive in the Midwest in 2008, and one of scores of children's hospital heads who routinely earns a seven-figure paycheck. Much of O'Donnell's pay was in the form of a Supplemental Executive Retirement Plan (SERP), which paid him nearly $5 million of his compensation in that year. It was also part of a plan by the hospital's board to keep O'Donnell in place for the long-term (he has helmed the hospital since 1993).
O'Donnell's done an impressive job, more than doubling patient volume, growing revenues five-fold, and building a satellite hospital during his tenure. However, a statement issued by Children's Mercy leadership suggest they see him more as a form of bonded indebtedness than an accountable executive. "O'Donnell's leadership in the successful achievement of our long-term vision made it easy for us to renew his contract and fulfill our financial obligations to him," said David Oliver, a member of the hospital board who chairs its compensation committee.