Community Corner
Former Wyckoff Hospital CEO May Leave With $875K Severance
Currently under investigation for using his expense account for personal trips, the former CEO may leave his post with a hefty severance, despite the hospital's financial troubles.
Ragiv Garg, the former CEO of Wyckoff Heights Medical Center, may walk away with an $875,000 severance package, despite the fact that the hospital is struggling financially, says Crain’s New York.
The hospital has negative net assets of $91 million, and in November, a state task force recommended that the hospital in order to stay afloat.
According to Crain's, an early draft of Garg’s severance agreement says he would get his $700,000 annual salary for 15 months, and that the hospital also would reimburse Garg for expenses and attorneys' fees from “the pending investigation by the Brooklyn District Attorney's Office and/or Grand Jury, arising out of his duties at Wyckoff.”
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The investigation was sparked by allegations that Garg used his expense account to pay for a first class plane ticket and a vacation to London, as well as a party at the Lamb's Club.
