The TVA, which generates and sells electricity to providers like Murfreesboro Electric and Middle Tennessee Electric, both based in Murfreesboro, has a new leader on their board of directors.
President Trump announced his intent to nominate William B. Kilbride of Tennessee to serve on the Tennessee Valley Authority (TVA) Board of Directors.
United States Senator Lamar Alexander (R-Tenn.) stated, "William Kilbride is a successful businessman - formerly serving as the president and CEO of the Chattanooga Chamber of Commerce and as president and chief sustainability officer of Mohawk Industries - and a community leader in Chattanooga. Under Kilbride's leadership, the Chattanooga Chamber of Commerce received the 2017 Chamber of the Year award. He understands that TVA's mission is to continue to provide cheap, clean and reliable electricity throughout the Tennessee Valley, and I know his strategic leadership will be a valuable asset to the TVA board. I am glad President Trump nominated him, and I look forward to his confirmation by the Senate."
According to the Chattanooga Times Free Press, an article from 2018 shows that the Tennessee Valley Authority has a payroll of $144.5 million. 2018 was their highest payroll on record for their 10,023 employees, most of which do not see six-digit pay figures unlike the top TVA executives with seven-digit incomes.
TVA cut their operating expense in recent years by more than $800 million with the cut of 3,000 jobs. Their top chief executive received a pay $8.1 million for 2018 that included his regular pay, bonuses and deferred compensations. However, the TVA did bring in $1.1 billion in net income while selling over $11 billion in electricity over their 7 state region in 2018.