Four top Con Edison executives have returned $614,400 in bonuses after Gov. Andrew Cuomo called for an investigation into why they were rewarded following what he has called a woeful performance by utilities during Hurricane Sandy.
Cuomo asked state utility regulators to look into the payments to Con Ed Chairman and CEO Kevin Burke and the others, warning in a letter to the company Monday that ratepayers shouldn't have to foot the bill for the bonuses.
Burke quickly said he was returning the $314,000 he was awarded for what a proxy statement described as guiding the company through "significant challenges,'' including Sandy.
A Con Ed spokesman said Tuesday the other executives also returned the bonuses. He says the company continues to cooperate with a state investigation of utility performance during Sandy.
Facing Probe, Con Ed Execs Return Sandy Bonuses
Copyright AP - Associated Press
