02-04-2025
How much will the new Tennessee Valley Authority CEO be paid?
KNOXVILLE, Tenn. (WATE) — The Tennessee Valley Authority will soon have a new leader that will replace the outgoing CEO whose high pay had previously been the target of criticism from President Donald Trump.
Don Moul was named the newest CEO of the nation's largest public utility on Monday. He will officially replace Jeff Lyash later this year, who will retire after heading the independent agency since 2019.
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A TVA spokesperson told 6 News that Moul's base salary will be $1.2 million, roughly the same as Lyash's base pay approved by the TVA Board in November 2024. He is eligible to receive an additional $2.45 million if three-year performance cycle goals are met and a long-term retention bonus of $1.05 million. Moul is also eligible for accrued benefits through TVA's Supplemental Executive Retirement Plan and its Executive Severance Plan.
Trump previously criticized Lyash's compensation during his first term in office and called for the position's pay to be capped at $500,000. His total compensation was more than $10 million in fiscal year 2024, made up largely of performance-based incentives and accrued benefits. The TVA doesn't get taxpayer money from the federal government. It a self-sustaining entity primarily funded by electricity sales that top $10 billion annually.
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The TVA Board defended its CEO pay from Trump's criticism in the past, noting in a 2020 memo to employees and contractors that the total compensation ranked in the bottom 25 percent of utility peers in the private sector.
Moul has served as TVA's executive vice president and chief operating officer since June 2021. He is set to assume the CEO role on April 9.
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