Western executives poised for $15 million severance in sale
Western's filing shows top five executives could collect about 15.14 million in severance if KPL and KGE utilities are sold, with total potential payouts including relocation and retirement benefits. Consumer groups criticize the severance as excessive, while Western argues such packages are standard and tied to executive retention amid the sale.
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Western Resources
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KGE
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PNM
Kansas Industrial Consumers
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David Wittig
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Carl Koupal
Tom Grennan
Rick Terrill
Kim Groninger
Wittig, Lake and Koupal
Westar
Groninger
Forbes scrutinizes Wittig era at Western Resources
Forbes alleges missteps and public relations blunders by Western Resources Inc. and its CEO David Wittig since his 1995 return to Kansas. The piece cites a failed merger, a loss-making home security unit, and an $8 million salary amid declining stock, noting contentious use of a corporate plane and Wittig’s Alf Landon mansion purchase. Western disputes relevance to a rate case, while consumer advocates push back on a proposed rate increase. The Kansas Corporation Commission plans a July 3 decision and a Tuesday hearing on corporate restructuring.
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Western
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Wittig
Forbes
Bernard Condon
Topeka
Alf Landon
Condon
Kansas City Power and Light Co
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Protection One
Securities and Exchange Commission
Kim Groninger
Groninger
Kansas Corporation
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