'Trying to put fog in a bottle': frustrated donor withdraws million dollar pledge to LHSC

A former London Health Sciences Centre board member and legacy donor is expressing his dismay with the current state of financial affairs at the institution, and he’s putting his money where is mouth is.

Ronald Breen said he has made the decision to withdraw his million dollar legacy pledge to the London Health Sciences Foundation, stating that trust and confidence in LHSC leadership is broken.

“How can anyone, with all due respect, consider participating as a donor,” questioned Breen in an interview with CTV News on Monday.

A chartered accountant and former finance committee chair for the LHSC Board of Directors, Breen said he’s pulling his million dollar pledge because of concerns over the ballooning deficit at LHSC.

In a letter to the current board and administration Breen said:

“…I made a legacy pledge of $1,000,000 to financially support LHSC via the Foundation in October 2011. However, my lack of confidence in Board leadership, and management decision making practices, will now move me to take steps to withdraw and terminate my pledge.”

Breen suggested to CTV News that he’s not the only one pulling support.

“Support from other people has also been withdrawn… in terms of people have changed the amount of dedication buried within their will,” he said.

In his scathing rebuke, Breen points to what he calls an “unprecedented” $150 million operating deficit projected for 2025. He also points to what he calls a “bloated executive payroll” of nearly $40 million.

 “Trying to put fog in a bottle, on the basis that every time you turn around you get a different CEO on the other side of the boardroom table, so there’s no stability,” he exclaimed.

LHSC turned down a request for an interview to respond to Breen’s charges. Instead, it sent a brief statement which said in part:

   “…we are actively taking steps to address our financial situation, including a management organizational structure review and benchmarking exercise.”

CTV News also requested an interview with LHSF. It responded by email, saying in part:

“We do not comment on the specifics of any individual gift no matter the situation.”

As for Breen, he believes it will take several years to fix the financial woes at LHSC, and he has no intention of changing his mind on the million dollar pledge withdrawal.

“The board has to look in the mirror, from my perspective, and take some responsibility for what has happened in terms of the gaps in governance and leadership and direction,” said Breen.