Employees of the Tennessee Valley Authority will have extra reason to be thankful during Thanksgiving next week when TVA distributes year-end performance bonuses averaging $10,970 for each of more than 10,000 workers.
But TVA President Bill Johnson says electricity users in the Tennessee Valley should also be thankful for the utility’s success in cutting power rates, pollution and expenses at TVA and helping attract more than $40 billion of new investment in the region over the past five years.
“We are getting really good results for the people we serve, and this performance pay is in recognition of that effort by our employees,” TVA President Bill Johnson said Wednesday.
Just ahead of next week’s Black Friday sales, TVA employees will share in $112.5 million of winning performance payments being paid to workers after the TVA board determined the agency had exceeded its 2017 corporate targets by reducing debt, injuries and emissions while still exceeding targets for job generation, power reliability and environmental improvements.
Top pay at TVA
› Bill Johnson, president and CEO, $5.07 million in pay and bonuses, up 3.3 percent from the previous year, and total compensation of $6.7 million› Joe Grimes, executive vice president for generation, $2.1 million in pay and bonuses, up 12.7 percent from the previous year, and total compensation of $2.4 million› John Thomas, chief financial officer, $2.02 million in pay and bonuses, down 10 percent from the previous year, and total compensation of $2.3 million› Mike Skaggs, executive vice president of operations, $1.5 million in pay and bonuses, 12.6 percent from the previous year, and total compensation of $1.9 million.› Sherry Quirk, general counsel, $1.47 million in pay and bonuses, and total compensation of $1.6 million.**Quirk was not previously among the top 5 executives so pay data from previous years is not available.Source: TVA 10K filing for 2017. Compensation includes salary, short-term and long-term incentives and the change in pension values and deferred compensation plans.