Citing his accomplishments, the CPS Energy board awarded CEO Doyle Beneby a $205,000 bonus.
From customer satisfaction to fiscal responsibility, CPS Board Chairman Derrick Howard said Beneby exceed the criteria set by the utilitiy's board of directors.
“We have the highest credit rating of any municipal utility in the country,” Howard said, as he announced that Beneby will be given a $205,000 bonus.
The bonus equals half of Beneby’s annual salary of $410,000.
It is the largest bonus allowed under Beneby’s current contract.
In accepting the bonus, Beneby said, “This is a really, really tough business and it’s really difficult to -- day-in and day-out -- make the decisions that really move the needle.”
Beneby said he understands that it is tough to justify the bonus in tough economic times for most customers.
“All you can do is keep your head down, work hard, and hope that the community supports it,” he said.
Beneby is eligible for another $205,000 bonus next year, at the end of his three-year contract, if he meets the board’s requirements.