Public Service Enterprise Group CEO Ralph Izzo's 2008 pay jumps 58% to $8.1M

Public Service Enterprise Group reports 2008 executive compensation

By ExecPay News

Published: March 16, 2009

Public Service Enterprise Group reported fiscal year 2008 executive compensation information on March 16, 2009.

In 2008, five executives at Public Service Enterprise Group received on average a compensation package of $3.3M, a 11% increase compared to previous year.

Average pay of disclosed executives at Public Service Enterprise Group

Ralph Izzo, Chief Executive Officer, received $8.1M in total, which increased by 58% compared to 2007. 31% of Izzo's compensation, or $2.5M, was in option awards. Izzo also received $879K of change in pension value and nonqualified deferred compensation earnings, $1M in non-equity incentive plan, $944K in salary, $2.5M in stock awards, as well as $232K in other compensation.

William Levis, Chief Operating Officer, received a compensation package of $2.7M, which decreased by 37% compared to previous year. 23% of the compensation package, or $616K, was in other compensation.

Thomas M. O'Flynn, Chief Financial Officer, earned $2.2M in 2008, a 1% decrease compared to previous year.

Ralph A. LaRossa, Chief Operating Officer, received $1.8M in 2008, which increases by 37% compared to 2007.

Power R. Edwin Selover, General Counsel, earned $1.8M in 2008, a 16% decrease compared to previous year.