Duke Energy CEO's $8M pay package docked $600M over coal ash carrying heavy metals into river

IndustriesAssociated Press

Duke Energy's CEO is paying a price for a massive spill of collected coal ash that coated 70 miles of a North Carolina river in sludge containing toxic heavy metals.

An annual statement released ahead of the Charlotte-based company's May shareholder meeting says Chief Executive Officer Lynn Good's $8.3 million compensation in 2014 was cut by about $600,000. The top financial officer and three other executives saw similar 35 percent reductions in compensation tied to annual performance.

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Directors of the country's largest electric company said in the company proxy statement released this week that the executives were docked because the spill will cost Duke Energy more than $190 million in cleanup, legal fees, and fines to settle a pending criminal case involving Clean Water Act violations.