TVA president and CEO Tom Kilgore will not get a raise in 2012.
The Tennessee Valley Authority’s board of directors, meeting today in Starkville, Miss., said their decision was made “in keeping with the federal salary freeze.”
Kilgore’s total base salary and annual performance incentive for 2011 tallied $2.7 million.
“While TVA compensation is based on market comparisons, we realize that the CEO’s current compensation is near the bottom of industry rankings,” TVA Chairman Denny Bottorff said. “Nonetheless, in keeping with the federal salary freeze, we are not adjusting the CEO’s salary; neither are we adjusting his at-risk performance pay opportunity for fiscal year 2012.”
Kilgore did not comment on the freeze during the board meeting.
Pam Sohn has been reporting or editing Chattanooga news for 25 years. A Walden’s Ridge native, she began her journalism career with a 10-year stint at the Anniston (Ala.) Star. She came to the Chattanooga Times Free Press in 1999 after working at the Chattanooga Times for 14 years. She has been a city editor, Sunday editor, wire editor, projects team leader and assistant lifestyle editor. As a reporter, she also has covered the police, ...