Santee Cooper CEO will go without raise for 3rd year
Santee Cooper’s top executive will go without a raise for the third year.
The state-owned utility’s board of directors voted unanimously today to keep the salary for President and CEO Lonnie Carter at $416,667.
“We felt it was appropriate at this time,” board chairman O.L. Thompson said after the board voted during a meeting in Myrtle Beach.
Carter said he was satisfied with the board’s decision.
“I had no expectation that they would take any action on my compensation today,” he said.
Carter joined the Moncks Corner-based power and water provider as an entry-level engineer in 1982 and became president in 2004.
Read more in Saturday’s editions of the Post and Courier.