TVA Board Votes To Raise CEO’s Pay

ATHENS, Ala. (AP) — The Tennessee Valley Authority board at its first meeting with four newly appointed members has voted to give President and CEO Tom Kilgore a 10 percent increase in his long-term compensation that is largely based on incentives, to $3.6 million.
That is a 10 percent jump in his total compensation and includes his annual salary of $850,000, which was not increased for 2010. Kilgore said he has not received any increase in two years.
Kilgore said a decision about 2010 bonuses for other executives will be made later this month. There was no bonus last year due to the economy and the utility’s December 2008 costly coal ash spill that is costing $1.2 billion to clean up at its Kingston Plant.
The board met for the first time with three new members and one reappointed by President Barack Obama.

2 thoughts on “TVA Board Votes To Raise CEO’s Pay

  1. Terry

    “Kilgore said he has not received any increase in two years.”
    Funny, I’ve received several increases in two years—that is, increases in my electric bill both at home and my business.

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