The top executives at booming behavioral health care provider Acadia Healthcare have been given significant raises by the company's board.
The base salary increases, which are retroactive to Nov. 1, all top 10 percent and come after a year in which Chairman and CEO Joey Jacobs and his team followed through on their plans to acquire and improve care facilities around the country. Through the first nine months of 2012, the company's revenues more than doubled to $293 million while EBITDA margins climbed more than two percentage points.
Here are the details on the salary increases:
Jacobs: $660,000 from $550,000
President Brent Turner: $435,000 from $380,000
COO Ronald Fincher: $450,000 from $380,000
General Counsel and Secretary Christopher Howard: $420,000 from $380,000
In addition, newly promoted CFO David Duckworth’s salary was set at $327,000. Duckworth’s predecessor, company and industry veteran Jack Polson, was being paid $380,000 per year before he stepped down this summer.
Shares of Acadia (Ticker: ACHC) closed Tuesday trading at $22.27. They have risen more than 120 percent in 2012.