CPS Energy CEO offered big raise
CEO Doyle Beneby offered $15k raise plus perks
CPS Energy's CEO could be getting a big pay raise if he chooses to accept an offer by the board.
The CPS board offered CEO Doyle Beneby a $15,000 raise plus bonuses and perks if he meets the requirements of the contract.
Beneby said he is grateful for the offer and is pleased that the board likes what he is doing, but he would consider the contract.
If he accepts the contract, that will bring Beneby's salary from $410,000 to $425,000, but with the perks and bonuses, that will likely put him at more than $820,000 in salary and bonuses.
However, according to a study conducted by Towers Watson in New York, Beneby is actually making 70 percent less than his peers.
Beneby said Friday that he does not feel underpaid.
"There's a lot more about this than money," said Beneby. "I might not be here if this was just money. This is a great place to live. It's a great company and you get a chance to impact the community."
Mayor Julian Castro said he believes Beneby deserves the pay increase.
"He brought us from almost spending a billion dollars on a nuclear project that we shouldn't have gotten into in the first place," said Castro. "And he kept rates reasonably low when you compare San Antonio to other places."
The board will not discuss the specifics about that perks and bonuses in the contract until he accepts the contract.
Beneby said he'll think about the offer and likely get back to the board in a few weeks.
In the meantime, he would not confirm if he had job offers from other companies.
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