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Lawrence Journal World in Lawrence, Kansas

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This newspaper page contains 2 articles. Subscribers can read the full text of each article.

Newspaper

Lawrence Journal World

Location

Lawrence, Kansas, United States of America

Date

Jun 23, 2001

Page

7

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.

Toreka Western Resources KPL KGB Western KGE Public Service Co. of New Mexico PNM Kansas Industrial Consumers Kansas Corporation Commission David Wittig Douglas Lake 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.

Kansas Western Wall Street Wittig Forbes Bernard Condon Topeka Alf Landon Condon Kansas City Power and Light Co Home Security Protection One Securities and Exchange Commission Kim Groninger Groninger Kansas Corporation

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