He probably didn't need it anyway. From the story:
>Former President and CEO of the Electric Reliability Council of Texas (ERCOT) Bill Magness refused his hefty severance package Thursday after being fired from the agency still reeling from last month’s catastrophic winter storms that left millions without power.
>A spokesperson for ERCOT told Fox News that Bill Magness has said he will not "seek or accept" any severance package – a safety net equating to more than $800,000, which is one year of his base salary, according to his employment contract.
>Magness was removed from his post following a late-night meeting with ERCOT’s Board of Directors Wednesday. He will continue to serve in his role for another 60 days during the transitionary period of finding his replacement.
>The move to oust the executive from the agency, tasked with supplying much of the state’s electricity, is the latest fallout following last month’s winter storm.
He probably didn't need it anyway. From the story:
>>Former President and CEO of the Electric Reliability Council of Texas (ERCOT) Bill Magness refused his hefty severance package Thursday after being fired from the agency still reeling from last month’s catastrophic winter storms that left millions without power.
>>A spokesperson for ERCOT told Fox News that Bill Magness has said he will not "seek or accept" any severance package – a safety net equating to more than $800,000, which is one year of his base salary, according to his employment contract.
>>Magness was removed from his post following a late-night meeting with ERCOT’s Board of Directors Wednesday. He will continue to serve in his role for another 60 days during the transitionary period of finding his replacement.
>>The move to oust the executive from the agency, tasked with supplying much of the state’s electricity, is the latest fallout following last month’s winter storm.
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