Fired ERCOT CEO Bill Magness says he will not seek, accept severance pay fox26houston.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fox26houston.com Daily Mail and Mail on Sunday newspapers.
Fired ERCOT CEO Bill Magness says he will not seek, accept severance pay
By FOX 7 Austin Digital Team
Published
AUSTIN, Texas - ERCOT President and CEO Bill Magness has told the ERCOT Board of Directors that he will not seek or accept severance pay, according to the agency.
In accordance with his employment agreement, his severance pay would have been equivalent to one year of his current base salary, which is more than $800,000.
Earlier this week, the ERCOT board of directors voted to fire Magness, effective in 60 days. According to a statement from the board, Magness will continue to serve in the role and work on potential reforms to ERCOT while the board searches for a new president and CEO.
AP Story talkradio1170.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from talkradio1170.com Daily Mail and Mail on Sunday newspapers.
Top board leaders of Texas' embattled power grid operator have resigned following outrage over more than 4 million customers losing electricity during the
AUSTIN, Texas – Five members of the board of directors at the entity that operates the state’s electrical grid resigned from their posts on Wednesday, according to a notice posted to the Public Utility Commission website.
Board Chairwoman Sally Talberg, Vice Chairman Peter Cramton and members Terry Bulger, Raymond Hepper and Vanessa Anesetti-Parra will leave the Electric Reliability Council of Texas, or ERCOT. None of them lives in Texas.
ERCOT has come under fire for its handling of widespread blackouts that left millions of Texans without power and water as the state faced subfreezing temperatures, snow and ice. The storm was part of an icy blast across the Deep South that resulted in more than 80 deaths, roughly half