89.9 FM Live From The University Of New Mexico
Play Live Radio
Next Up:
0:00 0:00
Available On Air Stations

PNM Executives Paid Millions in Incentive Pay in 2011

Top officials at the Public Service Company of New Mexico were paid $2.26 million dollars. Nearly half of that went to President and CEO Pat Vincent-Collawn on top of her $575,000 annual salary. 

From the Albuquerque Journal


Executive Vice President and Chief Financial Officer Charles Eldred received a $400,000 salary in 2011 and $486,240 in incentive pay. Senior Vice President and Chief Administrative Officer Alice Cobb, who left the company at the end of the year, had a salary of $300,000 and incentive pay of $311,770. Senior Vice President and General Counsel Patrick Apodaca made a salary of $260,000 and received $318,677 in incentive pay. Vice President and Controller Thomas Sategna, who was not affected by the freeze because he is not a senior executive, had a salary of $235,201. He received $148,302 in incentive compensation.


PNM says the incentive payments are due to increases in the the company's business performance and came from shareholders, not rates paid by customers. 


Elaine Baumgartel was KUNM's News Director from 2013 to 2019. She was local Morning Edition host from 2007 through 2012 and she regularly hosted the station's live news and public affairs show for some years. Elaine originally came on board at KUNM as a volunteer and student employee in 2003.
Related Content