Grady ready to settle with CEO who was fired

A former CEO at Grady Memorial Hospital has come to terms on a settlement in a lawsuit over his firing last year, said Grady general counsel Timothy Jefferson.

“Basically he’ll receive less than a year’s salary” as well as some bonus money and moving expenses, Jefferson said.

Former CEO Otis Story and Grady officials have agreed on terms and the legal papers have been drawn up but await signatures, Jefferson said. He did not want to offer a final figure on the settlement until the papers were signed.

Story was making $600,000 a year when he was fired early last year.

Story’s lawsuit asserted that hospital board chairwoman Pam Stephenson orchestrated his dismissal so she could assume his job. CRAIG SCHNEIDER