Quantcast

SC state-owned utility hands out executive raises - Live5News.com | Charleston, SC | News, Weather, Sports

SC state-owned utility hands out executive raises

MONCKS CORNER, S.C. (AP) - The South Carolina state-owned utility Santee Cooper has approved pay raises for five top executives.

The utility's board had approved a three percent pay increases for the executives in April, but gave bigger raises to 2 of them at Monday's meeting in Moncks Corner.

The executive vice president for financial affairs, Elaine Peterson, is getting a 13 percent increase, to nearly $304,000.

The executive vice president of corporate services, R.M. Singletary, is getting a 9 percent increase to about $261,000.

President and chief executive Lonnie Carter's salary will be nearly $417,000.

Board chairman O.L. Thompson says the increases were needed to retain and reward good work. The executives got no raises last year.

Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 

Powered by Frankly