Two major Duke Energy shareholders are urging other investors to vote out the directors in charge of the company's environmental, safety, and health compliance.
The California Public Employees’ Retirement System and the New York City Pension Funds wrote fellow shareholders Monday. They asked that shareholders not re-elect four members of the Duke board’s regulatory policy and operations committee at the May 1 annual meeting.
The letter cites the Feb. 2 ash spill into the Dan River, saying Duke had “forewarning of the public risk” from environmental groups that had intended to sue Duke over ash contamination.
None of the committee members has coal industry or other relevant experience, CalPERS and New York City comptroller Scott Stringer wrote. The letter says cleanup costs are expected to be massive and note an ongoing federal grand jury investigation.
Oh my! Oversight by people with no relevant experience! That explains a lot when looking at McCrory's appointees.
I'm sure these gentlemen are wealthy enough they won't miss their fees. This page is a cached version from Duke Energy's website that is no longer available. According to the table directors receive $75,000 in cash and $125,000 in stock as their base fee. They also receive $2000+ for meetings even if they are conducted by phone. There is other compensation for the Chair and Lead Directors. Nice paychecks for four men who have no clue what their doing.