[singlepic id=223 w=146 h=144 float=left]Memorial Hospital CEO Jim Peak was terminated from his contract late Tuesday during the monthly Hospital Authority board meeting.

Following an executive meeting of the Memorial Hospital and Manor Authority, the board members came back into regular session and voted unanimously to terminate Peak’s employment contract effective immediately.

Board President Joe Livingston told The Post-Searchlight that the board annually assesses the CEO performance. This year the decision was made to terminate the contract.

Board member Charles Tyson said the termination was without cause, and a specific reason was not cited.

“He was up for his annual review, and that was what precipitated the conversation,” Tyson said.

A prepared statement from Glennie Bench, chair of the Finance Committee, reads, “At the November 16, 2010, meeting of the Hospital Authority, board members voted to terminate the employment contract with Chief Executive Officer Jim Peak effective immediately. Authority members would like to think Mr. Peak for his many years of service to Memorial Hospital and Manor and recognize his dedication to the hospital and his standing in the hospital community.

“We’d like to thank Jim for all he has done for the hospital over the years and we wish him all the best in the future,” Authority Chairman Joe Livingston said in the prepared statement.

Bench and Tyson will serve as chairmen of the search committee. The Hospital Authority board will serve as the search committee.

Chief Financial Office Billy Walker and Director of Nursing Cynthia Vickers were named interim co-CEOs.