Departing TVA nuclear chief to get bonus
CHATTANOOGA, Tenn. (AP) – The Tennessee Valley Authority’s nuclear power chief will get an extra half-million dollars for leaving the utility by October.
The Chattanooga Times Free Press (http://bit.ly/15ADVv0 ) reported Preston Swafford’s departure by the beginning of TVA’s new fiscal year is labeled an “approved termination” in a filing with the Securities and Exchange Commission on Friday. He will be eligible for executive bonuses top managers are to receive this year. Swafford’s amount will be $552,488.
Swafford joined TVA in 2006. He was paid $2.3 million in 2012 as the federal utility’s vice president in charge of TVA’s three operating nuclear power plants. During his tenure, the Browns Ferry Nuclear Plant was red-flagged by the Nuclear Regulatory Authority for failing to detect problems with a key safety system valve.
