CPS Energy President and CEO Rudy Garza is getting a 13.2% raise to an annual salary of $742,000 after unanimous approval Monday by the city-owned utility’s board. The trustees agreed Garza’s pay is less than what others in comparable positions in the industry are paid. He could also see up to 10% in performance-based bonuses over the next two years to be collected at the end of his current contract.
” He said the company’s financial position and its ability to serve its customers were in question under previous leadership. “We are caretaking this organization on behalf of the million-plus residents who are served … in the midst of probably the most uncertain time in the history for the energy industry,” Nirenberg said. Garza has led the utility since September 2022, when he was hired after serving as interim president and CEO since November 2021.
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