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HealthPartners' ex-CEO reaped board's favors; Secret deals contributed to $5.5 million package.(NEWS)
- Article from:
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Star Tribune (Minneapolis, MN)
- Article date:
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January 17, 2003
- Author:
- Howatt, Glenn
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Copyright informationCOPYRIGHT 2003 Star Tribune Co. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Glenn Howatt; Staff Writer
HealthPartners board members knew it wouldn't look good if they gave Chief Executive George Halvorson a new fringe benefit in 1998, especially because the company was losing money.
But after receiving assurances that the supplemental retirement plan wouldn't have to be reported to the public, the board approved it, even rejecting a suggestion that awards into the plan be tied to company performance, according to documents reviewed by the Minnesota attorney general's office.
It was one of several compensation enhancements and secret arrangements that gave Halvorson $5.5 million in pay and benefits when he left the company last ...
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Star Tribune (Minneapolis, MN);
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Howatt, Glenn;
787 words
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743 words
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475 words
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504 words
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787 words
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