JACKSON, Miss. (Legal Newsline) – In addition to celebrating a Friday decision by the Louisiana Supreme Court, Entergy Corp. defended its executive compensation system Monday after Mississippi Attorney General Jim Hood criticized it in a press release.
Hood’s release stated that Entergy CEO J. Wayne Leonard has collected $54.6 million in salary and other compensation during the past three years while the company made $13 billion in 2008. Hood filed a lawsuit against the company in December that alleged it is overcharging its Mississippi customers.
In his release, Hood said, “The average Mississippian cannot even comprehend a $54 million payday, let alone ever see a fraction of that kind of money in a lifetime.”
Entergy spokesperson Mara Hartmann told Legal Newsline the company’s executive compensation system is largely performance-based.
Legal News Line 4/6/9