CEO Of Company Responsible For Porter Ranch Gas Leak To Get $3 Million Bonus

[villager]

Source: LAist


<snip>

Despite being in charge of the company responsible for the largest environmental disaster in California's recent history—the infamous Porter Ranch Gas Leak—the CEO of Sempra Energy, the parent company of SoCalGas, will receive a $3.17 million bonus this year. Added to her usual salary, Debra L. Reed will net a total of $16.1 million in pay for the 2015 year, according to the company's proxy statement (search "bonuses paid&quot .

Don't worry, though—California is making sure Ms. Reed will pay for the disaster. A penalty levied by the State will set her back a whopping $130,000, according to the Los Angeles Times. But as the Times so succinctly points out, this penalty amounts to just eight tenths of 1 percent of her total pay.

Along with Reed, Sempra Energy's president, executive vice president, chief financial officer, and general counsel are all also getting bonuses, amounting to about $3.9 million combined. Their combined penalty is just $157,000.

As Paula Cracium, president of the Porter Ranch Neighborhood Council said to the Times, "This sends out a signal that as long as the dollars are there, the impact on people, homes and the environment doesn't matter. That's not the signal we need to send to executives who have so much power."

<snip>



Read more: http://laist.com/2016/03/29/ceo_of_company_responsible_for_port.php