TVA employees sharing in record earnings
The Tennessee Valley Authority is rewarding employees for helping boost the utility’s income above $1 billion last year.
The Chattanooga Times Free Press (http://bit.ly/1HewbVr ) reports that TVA directors voted Friday to allow the agency’s 10,900 employees to share in some of those record earnings. The directors approved payments of $113 million, or an average year-end bonus of $10,367 per employee.
The board was even more generous to its top five executives.
TVA CEO Bill Johnson was paid a compensation package in fiscal 2015 worth more than $6.4 million.
Four other top TVA executives were each paid more than $2 million in the fiscal year ended Sept. 30.
TVA Chairman Joe Ritch and other TVA directors praised Johnson and other top executives for helping to turn around TVA’s financial standing.