Kelby krabbenhoft salary wizard
Kelby Krabbenhoft was paid more than $49 million in salary, severance and other payouts last year.
Former Sanford Health CEO Kelby Krabbenhoft was paid more than $49 million in , the vast majority as part of severance and payouts..
Nov. 15, 2021
In one year, Sanford Health reports it paid $65 million in one-time severance and other payments to six executives who left the organization, with more than two-thirds of it going to former CEO Kelby Krabbenhoft.
The Sioux Falls-based health system reported the compensation as part of its annual filing with the Internal Revenue Service.
Krabbenhoft, who left his role a year ago, received more than $49 million from Sanford Health in 2020, a combination of his salary, incentive-based pay, severance and two lump sum payouts from supplemental executive retirement plans.
“The majority of the compensation paid to Mr.
Krabbenhoft upon his departure was contractually obligated as part of retirement plans over his 24-year tenure,” Sanford Health said in a statement.
“The remainder was Mr. Krabbenhoft’s annual compensation and a severance agreement.
These payments conclude Sanford Health’s financial obligations to Mr. Krabbenhoft.”
Krabbenhoft’s last reportable compensat