CEO's firing from biggest hospital in Southwestern Ontario could be costly
Dr. Paul Woods
LONDON, ONT. -- The London Health Sciences Centre (LHSC) remains tight lipped about the details of former-CEO Paul Woods’ departure, but a review of his employment contract suggests he could pocket more than half a million dollars.
On Monday, LHSC’s Board of Directors announced it ended Dr. Woods’ employment.
Despite requests from CTV News, LHSC officials refuse to answer questions about the terms and finances of Dr. Woods’ departure.
Woods was in the third year of his five-year employment contract with the hospital.
According to the most recent provincial sunshine list, he earned a total of $605,000 (salary plus benefits) in 2019.
According to his contract, if it was terminated ‘without cause’ he would receive ‘pay-in-lieu of notice’ totalling 12-months compensation. His employment benefits would also continue for 12 months.
The employment contract also provides for ‘executive level relocation counselling services that are suitable and appropriate to a Chief Executive Officer for up to six-months.’
If the contract was terminated ‘with cause’, however, he would receive nothing.
‘LHSC may immediately terminate the Executive’s employment, without further notice or pay-in-lieu of such notice or damages of any kind, for cause as defined by the common law,’ it reads.
Despite warnings against international travel, Woods traveled five times to visit family in the United States since March 2020.
On Friday, the Chair of LHSC’s Board of Directors Amy Walby said in a statement,”The Board of Directors is aware Dr. Woods continued to travel for personal reasons given the separation from his immediate family and the Board supports his continued leadership of LHSC.”
But on Monday, there was a sudden reversal by the board.
The Board of Directors ended the employment of Woods, and said it, “had no advance notice of and did not approve his travel outside Canada.”