Eversource chief gets $700,000 raise

[unhappycamper]

http://www.bostonglobe.com/business/2016/03/24/eversource-chief-gets-raise/LsFpMGsDC0lQAA9LIJOYZN/story.html

Eversource chief gets $700,000 raise
By Dan Adams Globe Staff March 24, 2016

Utility Eversource Energy disclosed Thursday that its chief executive, Thomas May, received a 7.8 percent pay increase in 2015, bringing his total compensation to around $9.7 million.

That was about $700,000 more than he received in the prior year, with May getting both a bump in his base salary and a larger stock award. In 2014 May’s total compensation increased at a higher rate, 17 percent, to around $9 million.

During 2015 Eversource’s stock fell about 5 percent. It has since climbed more than 10 percent for the year, and closed Thursday at $57.83 Thursday.

In Connecticut the company recently came under fire from U.S. Sen. Richard Blumenthal, who accused Eversource of misusing the H1-B visa program to outsource 200 information-technology jobs two years ago. Eversource denies any wrongdoing.

[Dustlawyer]

1. Why does he deserve it? Is this question ever asked like it is when deciding to give an

hourly employee a raise?

[zalinda]

2. No, board members give raises to CEOs

If you'd ever look at some of the board member charts, you would see that boards are incestuous. There is no law that states you can't be a CEO of one company and a board member of another company or that you can't be a board member of as many companies as you want. If you saw one of the charts for the biggest companies and their board members, it is quiet shocking.

Z

[LiberalArkie]

3. He is on the board of directors of the Corporations that his board of directors are from

and he voted for their pay raises.