COLUMBIA, S.C. (AP) — South Carolina's state owned utility paid $9 million in performance bonuses to executives of a private utility for two nuclear reactors that were never finished, according to the public utility and emails turned over to state and federal investigators.
On business: SCANA breaks with tradition by splitting chairman, CEO roles
The changing-of-the-guard at South Carolina's biggest publicly traded business includes two abrupt retirements and several in-house promotions.
Largely unnoticed amid the senior management shakeup was a sudden break from a long tradition in the upper echelon at SCANA Corp. The utility owner, facing blistering scrutiny over the failed V.C. Summer nuclear plant expansion, will be splitting the combined chairman and chief executive officer role now held by the retiring Kevin B. Marsh.
SCE&G leader to retire after failed $9B nuclear project
COLUMBIA, S.C. (AP) — The leader of a second South Carolina utility involved in a failed $9 billion project to build two nuclear reactors is stepping aside.
SCANA announced Tuesday that Kevin Marsh is retiring as chairman and CEO of the company and its subsidiary, South Carolina Electric & Gas, at the end of the year. He joins Santee Cooper CEO Lonnie Carter as both men were allowed to leave without being fired.
Two top SCANA Corp. executives, including CEO Kevin Marsh, are leaving the company, three months after it scuttled the disastrous expansion of the V.C. Summer nuclear plant.
Marsh, who also is chairman, and chief operating officer Stephen Byrne are retiring, it was announced Tuesday.
Independent director Maybank Hagood of Charleston will become non-executive chairman, and SCANA finance chief Jimmy Addison will become chief executive officer.
SCE&G leader Marsh to retire after failed $9B nuke project
COLUMBIA, S.C. (AP) — The chief executive at the second South Carolina utility involved in a failed $9 billion project to build two nuclear reactors is stepping down.
SCANA announced Tuesday that Kevin Marsh is retiring as chairman and CEO of the company and its subsidiary, South Carolina Electric & Gas at the end of the year.
Senior Vice President Stephen Byrne is also retiring at the same time.
S.C. congressional delegation loses fight to get nuclear tax credit in government spending bill
WASHINGTON — The budget agreement worked out in Congress has disappointed every member of the South Carolina delegation after a highly desired nuclear power plant tax credit was left out.
Excluded from the plan that's supposed to keep the government running through September is a provision extending the deadline for nuclear power plants to take advantage of the tax bonus, threatening to undermine a major economic driver in the state.
SCANA exec: Nuclear plant completion could hinge on extension of federal tax credits
The extension of federal tax credits for new nuclear power projects will play a key role in whether construction of the V.C. Summer nuclear plant is completed following Westinghouse Electric's bankruptcy filing, an executive with SCANA Corp. told stock analysts on Thursday.
SCANA executives earned more than $13 million in 2015, documents show
SCANA Corp., parent company of South Carolina Electric & Gas, paid its top five executives $13.06 million in base salary, stock options and other perks in 2015.
Chief Executive Officer Kevin Marsh was the top earner, taking home $5.7 million in total compensation in 2015, according to SCANA's 2016 proxy statement filed with the Securities and Exchange Commission, or SEC.
The 2017 proxy statement likely won't be filed until sometime next month.