Nice work if you can get it.
CPS Energy CEO Paula Gold-Williams, who resigned following public outrage over the company’s handling of Winter Storm Uri, picked up a $1 million final paycheck on her way out the door, according to KSAT News.
More than $751,000 of that total came in the form of a “restoration payment,” the TV station reports, citing financial records. A lawyer for San Antonio’s publicly-owned utility told KSAT the sum is a distribution of benefits from a taxable non-qualified retirement plan. So, now you know.
Padding out that already hefty total, Gold-Williams raked in $272,000 for unused vacation time accumulated during her 18 years on the job, according to the report.
The payouts were on top of Gold-Williams’ base salary of $486,000. What’s more, she’s eligible for a pension and has the option of staying on the company health plan as a retiree, the station reported. Officials declined to reveal the size of her pension, however, saying state law prohibits keeps it confidential.
Gold-Williams announced her resignation last fall after complaints about CPS Energy’s handling of the outages during last February’s winter storm as well as the transparency of its operations.
The executive also faced additional media scrutiny over internal complaints filed by CPS attorneys, her spending of company funds and her oversight of former chief operating officer Fred Bonewell, who resigned days before she did.
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This article appears in Feb 23 – Mar 8, 2022.
