NorthWestern to reconsider bonus package | Missoulian

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NorthWestern to reconsider bonus package
By JENNIFER McKEE of the Missoulian State Bureau

HELENA - NorthWestern Corp. officials have pulled the plug on a plan to pay the bankrupt company's top four executives $6.55 million in bonuses if the company is sold off, state and company officials said Tuesday.

The pay plan, which drew sharp criticism across Montana, was to have been discussed Wednesday at a hearing on the company's ongoing bankruptcy case in Delaware, said Bob Rowe, chairman of the Montana Public Service Commission.

The company has pulled that item from the agenda, said Roger Schrum, a NorthWestern vice president who would have benefited from the pay and bonus plan. No alternative executive pay plan has been developed, although Schrum said he anticipated a new plan would be announced soon.

"I think this reflects the impact of the reaction of Montana," said Tom Schneider, another member of the PSC. "People were outraged, including all of the commissioners. The people of Montana understood this issue very well and were uniform in condemning it."

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