Katehi: Replacing hospital CEO would cost more than raise
Last week, UC regents approved a $259,000 raise to $960,000 a year, money paid by hospital fees, not state money or student tuition. The justification given was that another academic hospital was recruiting Rice and offering $1.5 million. Katehi told The Bee’s editorial board today that it was “not an easy decision” to support the salary hike. While no one is irreplaceable, she said, the cost and time of replacing Rice would be far greater than the raise. Just hiring an executive search firm would cost $500,000, Katehi said. Then the search would take a year, and UC Davis would almost certainly end up paying more for Rice’s successor. That’s just the way the market is, she said.
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by Foon Rhee, The Sacramento Bee.