Matt Gerlach, Salinas Valley Memorial Healthcare System's pick for president and CEO, will not be joining the health network as planned.
Gerlach, 57, was named two weeks ago by the board of directors as its choice to succeed interim CEO Lowell Johnson. Gerlach was expected to come on board March 29, leaving his role as VP and COO at Glendale (Calif.) Memorial Hospital and Health Center.
But on Feb. 28, Salinas Valley Memorial announced that Gerlach had turned down its offer and would stay in his current position at Glendale. According to a statement released by the hospital, officials and Gerlach were unable to reach an agreement regarding contract length and severance pay. Gerlach was to be paid an annual sum of $450,000 for four years, with 18 months' salary in severance if he left.