Northwestern Corp. (NWE) has released an update.
Dana Dykhouse has announced his retirement from NorthWestern Energy’s Board of Directors after 15 years, effective at the next stockholders’ meeting on April 26, 2024. Linda Sullivan is set to succeed him as the non-executive Board chair, with other leadership transitions to follow. Alongside this change, NorthWestern Energy has approved a new Long-Term Incentive Program for executives, offering performance-based shares tied to company stock and financial metrics, with the potential for payouts to range from zero to double the target, based on company performance. Additionally, the company has instituted a supplemental retirement contributions plan for executives, replacing the previous equity-based retirement program, with contributions that vest over five years.
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