Erlanger Health System's new CEO will get a base salary of $680,000, a $50,000 signing bonus and can earn up to 50 percent of his base pay by meeting certain incentive goals.
The Hospital Authority Board on Thursday night approved that pay package in unanimously approving Kevin M. Spiegel for the post.
His hiring comes after an extensive search process that resulted in three finalists.
He will assume his new duties on April 1. Mr. Spiegel has previously served as CEO of Methodist University Hospital in Memphis.
Terms of the compensation were determined following consultation with an independent compensation expert, Sullivan Cotter and Associates, officials said.
Charlesetta Woodard-Thompson will continue in her role as interim president and CEO until the new CEO arrives.
Click here for the contract with Mr. Spiegel.