"Top five NStar executives made $15 million last year" by Erin Ailworth | Globe Staff, April 13, 2013
NStar’s top five executives, including former chief Thomas J. May, earned a total of nearly $15 million in 2012 — about $4 million less than in 2011, despite helping to engineer a merger with Northeast Utilities of Hartford.
The figures include three months of pay for each executive that NStar had not disclosed to the US Securities and Exchange Commission, citing a technicality that allowed the Boston firm to stop reporting financial information once it became part of Northeast Utilities last April. The combined company released the missing compensation details this week, as part of its response to a request from Attorney General Martha Coakley, the state’s ratepayer advocate.
Coakley last month asked for a breakdown of the company’s executive pay to ensure that no merger-related costs are charged back to ratepayers, which was a condition of the merger approval. Utility customers normally foot the bill for at least a portion of what executives earn.
The attorney general’s office said Friday that it is still reviewing the details.....
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Also see: Sunday Globe Special: May Pay
