What Do HECO’s Top Executives Earn?
Amid scrutiny over NextEra’s purchase of Hawaiian Electric, the local power company has disclosed the incomes of some of its top executives.
Given all the flack HECO gets and the many challenges it faces, running the Hawaiian Electric Co. may not be easy, but it sure does pay well.
The company’s top half-dozen executives all earned more than a half-million dollars in salary and other remuneration in 2015, with the head of the company taking in nearly three times that amount, according to Hawaiian Electric Industries’ recent filing with the Securities and Exchange Commission.
It is unclear how much HECO’s top executives will earn this year — or even whether they will remain employed by Hawaiian Electric Industries — given that NextEra Energy is seeking to buy HECO’s mother company, HEI.
Several top executives have been earning part of their income by testifying in favor of the sale before the Public Utilities Commission, which will decide whether NextEra’s $4.3 billion bid can go through.
The third — and likely, final — round of hearings are slated to begin Monday.
The largest listed compensation package of 2015 went to HECO President and CEO Alan Oshima.
A veteran of various roles for HEI, Oshima was appointed to his current position just two months before the NextEra-Hawaiian Electric sales agreement was announced in December of 2014. Oshima got a total package worth $1,412,167 last year.
Senior Vice President of Corporate Services Patricia Wong, who retired just before the end of 2015, made $846,380.
HECO Senior Vice President and Chief Financial Officer Tayne Sekimura brought in $725,324.
Chief Information Officer Stephen McMenamin, who is also a senior vice president, got salary and extras worth $659,479.
Hawaii Electric Light Co. President and CEO Jay Ignacio took in $571,864.
And HECO’s Senior Vice President of Customer Service Jim Alberts earned $512,901.
