El Camino Hospital's board of directors agreed Wednesday night to hire Dan Woods as the hospital's next president and CEO. Woods is a long-time hospital executive with experience leading hospitals in Chicago and the greater Atlanta area, and has briefly served as a health care consultant.
His start date is Sept. 1, according to the contract, unless an earlier date is mutually agreed upon.
Woods currently serves as the president of WellStar Kennestone Regional Medical Center, a hospital located in Marietta, Georgia with 4,700 employees and a mix of 1,100 employed and independent physicians.
Woods previously served in top leadership roles at the University of Chicago Medical Center and Northwestern Memorial Hospital, both located in Chicago, and worked a two-year stint as vice president of the health care consulting firm Verras.
Board members chose Woods for his experience working in a broad range of different hospital facilities -- everything from academic medical centers to not-for-profit public entities -- and his leadership overseeing "multi-year improvement strategies" to improve both efficiency and quality of care at hospitals, according to a statement by the hospital.
"(Woods) has a wealth of experience, having worked across a variety of healthcare settings where he developed relationships with physicians and partners to support the strategic growth of those organizations," said board chair Neal Cohen in a statement Thursday.
In the statement, Woods said he didn't hesitate to take the opportunity to lead El Camino Hospital, and that he was honored to be CEO of a hospital that serves residents in the heart of Silicon Valley.
"The decision to come here was easy for me after meeting with the talented medical staff and management team," Woods said. "As I listened to them talk about their work with patients and families, it was inspiring to hear their words of commitment and dedication. Together, we will achieve great success for the long-term health of the organization and our communities.â€ť
Board members voted 7-0 in favor of the appointment, with board member David Reeder absent. Immediately after the vote, the El Camino Healthcare District's board of directors met in a late-night meeting to unanimously approve Woods as the new president and CEO. The health care district's five elected board members also serve on El Camino Hospital's board, but get the final say over hiring the next hospital CEO.
Woods' contract includes an annual base salary of $850,000. In addition, board members can vote to increase the CEO's compensation each year based on his performance, as part of the hospital's "Executive Performance Incentive Plan." The "target" compensation increase is 30 percent of the base salary, according to the contract.
At the same meeting, board members agreed to set the base salary range for the hospital CEO between a minimum of $812,800 and a maximum of $1,219,200, which was determined to be a fair range by an outside research firm, according to hospital spokeswoman Kelsey Martinez.
Other perks in the contract include a $100,000 allowance for relocation expenses, including travel, moving and storage. The hospital will also pick up the bill for temporary housing for up to six months at a maximum of $7,000 a month, and offers Woods an interest-free loan of up to $400,000 for a mortgage. The loan will only be granted if purchase is within 12 months of the contract start date, the home is within the El Camino Healthcare District, and there are agreed-upon terms for how Woods plans to pay the money back if he sells the home or the contract is terminated.
The selection of Woods comes 10 months after El Camino Hospital's board of directors voted in a closed-session meeting to oust its former CEO, Tomi Ryba, without publicly revealing the reason for the firing. The only explanation, at the time, was that Ryba and the board were "in agreement" not to renew her five-year contract.
Ryba was replaced by acting President and CEO Donald Sibery, who began serving a temporary role as the head of El Camino Hospital in late October. His contract spanned for six months, but left room for extensions until a search for a permanent CEO was completed.