TVA Increases Top Execs' Pay in 2012
CHATTANOOGA, TN - The Tennessee Valley Authority paid many of its top executives substantially more in fiscal 2012 than in the year before.
TVA's fiscal year ended Sept. 30 and year-end figures were released Friday by the government utility.
The Chattanooga Times Free Press reported TVA CEO Tom Kilgore's salary was down a fraction from the year before, but performance bonuses and deferred retirement benefits pushed his 2012 total compensation to more than $4 million — up nearly 2 percent.
The largest pay jump fell to Kimberly S. Greene, who oversaw improvements in fossil fuel power generation in the last year. Her salary went up 50 percent to $3.57 million.
Chief financial officer John Thomas earned 32 percent more for trimming utility expenses when power sales came in $800 million short.