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Dominion Resources CEO Farrell made $8.2M in 2012

Wednesday - 3/27/2013, 12:20pm  ET

MICHAEL FELBERBAUM
AP Business Writer

RICHMOND, Va. -- Dominion Resources Inc. CEO Thomas Farrell II received a pay package valued at $8.2 million in fiscal 2012, down more than 20 percent from the previous year.

That's according to an Associated Press analysis of data filed by the Richmond-based energy provider with regulators.

The bulk of the drop came from a more than 56 percent decrease in Farrell's performance-based bonus, which totaled $3.2 million.

His salary increased 7 percent to $1.3 million, and his stock awards were valued at $3.5 million.

Last year, Dominion's profit fell 79 percent to $302 million and revenue fell 7 percent to $1.31 billion. Its primary performance measurement -- operating earnings -- increased about 2 percent.

The AP's calculation counts salary, bonuses, perks and stock and options awarded to the executive during the year.


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