Advocate Aurora Health chief executive officer Jim Skogsbergh is taking a 50% salary reduction for at least the next quarter.
Other senior executives of the Milwaukee- and Downers Grove, Illinois-based health system, including hospital presidents and system vice presidents, will be taking a salary reduction of up to 20%. The per-pay-period salary cuts take effect this month.
Those dollars will be directed to Advocate Aurora’s team member crisis fund, which provides financial assistance to employees experiencing a one-time emergency – including the inability to report to work – that makes it difficult to provide basic needs for themselves and their family during the COVID-19 pandemic, the system said.
In 2018, Skogsbergh’s total compensation was $8.5 million, according to the most recent available tax filings. Skogsbergh became sole president and CEO of Advocate Aurora in mid-2019, after co-leading the system with former Aurora Health Care CEO Nick Turkal since the health systems’ merger in April 2018.
Advocate Aurora announced last week it will distribute bonuses totaling $15 million to its employees, after the system met its 2019 patient outcomes and financial performance goals.
Since early April, the system has halted some capital projects across its system, citing its increased operating expenses and lost revenues due to the COVID-19 coronavirus pandemic.
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