CPS Energy boss Rudy Garza gets a 13% pay raise and opportunities for incentive-based compensation

Sara DiNatale | Source: San Antonio Express News | Posted 06/25/2024

CPS Energy President and CEO Rudy Garza is getting a 13.2% raise — the first since he was named to the position in 2022 — pushing his annual salary to $742,000. The move was unanimously approved Monday by the city-owned utility’s board. Trustees agreed Garza’s pay is less than what execs in comparable positions in the industry are paid. One complained it’s too low even with the raise and expressed concern it could keep other CPS executives' pay too low, making it a bigger challenge to retain them.

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CPS Energy President and CEO Rudy Garza secured a 13.2% raise, bringing his annual salary to $742,000, the first increase since his appointment in 2022. The board of the city-owned utility unanimously approved the raise, citing Garza's comparatively low pay within the industry as a driving factor.

Garza, recognizing his team's accomplishments, indicated that his salary adjustment aligns with industry standards, emphasizing the utility's approach to pay equity. The move was praised by Mayor Ron Nirenberg, a CPS trustee, for Garza's role in stabilizing the utility in the aftermath of the 2021 winter storm. Discussions about potential incentive programs are ongoing amidst concerns about retaining senior leadership within CPS Energy.

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CPS Energy boss Rudy Garza gets a 13% pay raise and opportunities for incentive-based compensation

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