The News Courier in Athens, Alabama

State and Nation

November 18, 2013

TVA increases CEO pay in fiscal 2013

ATHENS —

The CEO of the Tennessee Valley Authority was paid nearly $6 million for fiscal year 2013, according to the TVA’s year-end financial report filed today with the U.S. Securities and Exchange Commission.

Chief Executive Officer Bill Johnson’s $5.9 million salary was for his nine months on the job in fiscal year 2013 and is almost $2 million more than the utility paid retired CEO Tom Kilgor, during his last year with the agency. He made just under $4.03 million.

The utility said that even with the increase Johnson's pay is still below the industry average.Most of his salary came from performance incentives of nearly $2.6 million and deferred compensation payments of $2.06 million. His base salary for nine months of work was $712,500.

Meanwhile, other top executives at TVA saw a decline in pay.

Chief financial officer, John Thomas, received $2.1 million in 2013, or 3.3 percent less than in 2012. TVA's chief counsel, Ralph Rogers, received 25 percent less than the previous year with pay of $1.9 million.

1
Text Only
State and Nation
Photos


Poll

Which foreign crisis is the biggest threat to the security of the United States?

Russia-Ukraine
Israel-Palestine
Iraq
None of the above
     View Results
Facebook
AP Video
Raw: Air Algerie Flight 5017 Wreckage Virginia Governor Tours Tornado Aftermath Judge Faces Heat Over Offer to Help Migrant Kids Kerry: No Deal Yet on 7-Day Gaza Truce Kangaroo Goes Missing in Oklahoma More M17 Bodies Return, Sanctions on Russia Grow Gaza Residents Mourn Dead Amid Airstrikes Raw: Deadly Tornado Hits Virginia Campground Ohio State Marching Band Chief Fired After Probe Raw: Big Rig Stuck in Illinois Swamp Cumberbatch Brings 'Penguins' to Comic-Con Raw: Air Algerie Crash Site in Mali Power to Be Restored After Wash. Wildfire Crashed Air Algerie Plane Found in Mali Israel Mulls Ceasefire Amid Gaza Offensive In Case of Fire, Oxygen Masks for Pets Mobile App Gives Tour of Battle of Atlanta Sites
Twitter Updates
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Stocks
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
Business Marquee