‘No discussion’: Valley Children’s CEO Todd Suntrapak on his compensation
FRESNO, Calif. (KSEE/KGPE) – The CEO of Valley Children’s Healthcare Todd Suntrapak has personally responded to the outrage regarding his multi-million dollar salary, revealing that he … The CEO of Valley Children’s Healthcare, Todd Suntrapak, has responded to public outrage over his multi-million dollar salary, stating that he is not part of discussions about his compensation discussions, but only informed by the Board of Trustees. This comes after tax documents revealed that Suntraack earned a bonus of $2,283,541 in fiscal 2020, exceeding his already established salary of $1.4 million. The tax documents also reveal a loaned out to the IRS by Valley Children's Hospital for the fiscal year 2021 totalling $5 million. In a video posted online by the hospital, Suntrapeak stated that the financial strength of the hospital allows it to make key investments that can continue the evolution of the evolution over the next 70 to 100 years.
Опубликовано : 3 недели назад от Cristina Lombardo в Business
FRESNO, Calif. (KSEE/KGPE) – The CEO of Valley Children’s Healthcare Todd Suntrapak has personally responded to the outrage regarding his multi-million dollar salary, revealing that he is not part of the discussions about his compensation – other than what the Board of Trustees tells him will happen.
“There are no discussions with me about my compensation other than the board comp committee notifying me what it’s going to be.”
In a video posted online by Valley Children’s, Suntrapak says that the board goes through a regimented process and uses at least one outside consultant to make their decision. The video also answers several big questions posed to Valley Children’s since the start of the year.
The video response comes after revelations earlier this year from tax documents available on the IRS’ website that Suntrapack earned a bonus of $2,283,541 in the fiscal year 2020, a figure that eclipsed his already established salary of $1.4 million.
“In 2012, when I was presented with my first contract as the CEO of Valley Children’s, I signed the contract and at that time I was paid at the 11th percentile and in fact my compensation didn’t reach the 50th percentile until 2018,” said Suntrapak.
In 2020, after Suntrapak received his bonus and a consultant was directed by the board to build a compensation model, Suntrapak says he was put in the 90th percentile nationwide – making him among one of the top 10% of earners in the industry.
Tax documents for the fiscal year of 2021 submitted by the IRS by Valley Children’s Hospital also show a loan to Suntrapak “for residence as a retention incentive in lieu of other compensation” totaling $5 million.
In March 2024, Fresno City Councilmembers Garry Bredefeld and Miguel Arias sent California’s Attorney General Rob Bonta requesting an investigation into the hospital. When Bredefeld and Arias asked the Attorney General to investigate, Chair of the Valley Children’s Board of Trustees Michael Hansen refuted “the erroneous claims” adding that “it is disturbing to see elected officials attempt to use children’s healthcare to garner media coverage.”
In the video posted online, Suntrapak was asked why Valley Children’s needs additional money and investments. Suntrapak said that they aren’t just financially strong but on “financial granite” which allows them to make key and metered timely investments.
“As we evaluate anything we do at Valley Children’s, we do so with an eye towards sustainability. It’s one of the reasons that we created a fund for sustainability that is the financial strength in our balance sheet,” he said.
Suntrapak says the financial strength of the hospital allows it to make key investments that can help continue the evolution of Valley Children’s over the coming 70 to 100 years.
Темы: Business Leaders