TVA increases CEO pay in fiscal 2013
CHATTANOOGA, Tenn. (AP) – The Tennessee Valley Authority says in a filing that it paid Chief Executive Officer Bill Johnson $5.9 million during his nine months on the job in fiscal year 2013.
That’s almost $2 million more than the federal utility paid former CEO Tom Kilgore, who retired at the end of 2012, during his last year with the agency. He made just under $4.03 million.
The Chattanooga Times Free Press (http://bit.ly/IcCaff) cited the TVA’s year-end financial report, which was filed Monday with the U.S. Securities and Exchange Commission.
The utility said that even with the increase Johnson’s pay is still below the industry average.
TVA is the nation’s largest public utility, supplying power to about 9 million people in Tennessee, Alabama, Mississippi, Kentucky, Georgia, North Carolina and Virginia.
