TVA Increases CEO Pay in FY 2013
The Tennessee Valley Authority paid CEO 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 in his last year at the helm in 2012.
The new numbers come from TVA’s year-end financial report, which was filed today with the U.S. Securities and Exchange Commission.
TVA says 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 seven states, including Kentucky and Tennessee.