PSE&G Long Island's interim president, Dave Lyons, received over $837,000 in total compensation last year, including a significant bonus, amidst investigations into the company's grid management. Despite failing to meet several key performance targets, the company justified the bonuses, stating they were tied to stretch goals. Compounding concerns, Lyons' compensation included nearly $280,000 in miscellaneous perks, reflecting a disturbing trend of executive pay increases against a backdrop of poor company performance and scrutiny over decision-making processes. The company only fully met 31 of the 61 metrics required for its annual bonuses, leading to questions about accountability and responsibility.
PSE&G Long Island's interim president, Dave Lyons, received over $837,000 in total compensation last year despite ongoing scrutiny over the company's performance and investigations.
The company defended its bonuses to executives by claiming that they were based on the achievement of stretch goals, despite consistently failing to meet key performance targets.
Lyons' compensation included nearly $280,000 in 'other pay,' covering perks and bonuses, raising concerns over executive compensation amidst company investigations.
While executives received substantial pay increases, PSE&G Long Island reported it met only 31 out of 61 performance metric targets, failing to address key customer satisfaction and storm preparedness benchmarks.
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