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A nursing home chain gave its former CEO a $5.2 million “retention payment” at the height of the pandemic drawing a sharp rebuke from Sen. Elizabeth Warren (D-Mass.), who sits on the Senate’s Special Committee on Aging. Genesis operates more than 300 nursing homes across the country. More than 2,800 of its residents have died of covid-19, and despite receiving more than $300 million in state and federal emergency aid, the company said its finances are so bad that it may not be able to continue as a going concern.
"Sen. Warren calls Genesis Healthcare executive bonus act of ‘unfathomable greed’" reads the headline to the article published in the Washington Post. According to the article, Warren characterized the compensation as "inexplicable and unseemly” in a letter dated Jan. 27. She asked the company board to explain its decision and to provide the minutes of all meetings in 2020 where compensation was discussed. Warren also warned the company not to seek additional emergency relief from Washington.
Senator Warren's letter is available here.
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