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Contract for new CEO is on Rice board agenda

WILLMAR -- A proposed employment agreement for Rice Memorial Hospital's new chief executive will be reviewed for approval Wednesday by the hospital board of directors.

The board meets at 5 p.m. in the hospital board room.

The board voted March 18 to hire Michael Schramm as the city-owned hospital's new chief executive officer. Schramm, who is currently the chief executive at Meeker Memorial Hospital in Litchfield, will take over his new duties at the beginning of June.

The hospital board's human resources committee, with the help of legal counsel, has been working to put together a contract, including a salary offer.

Getting the contract approved and signed is the final formal step necessary in bringing Schramm on board at Rice.

The hospital board also is slated to review and approve the 2008 financial audit on Wednesday.

Audit figures show the Rice organization earned a $200,000 profit last year, or about a 0.4 percent return on revenue of more than $90 million.