With help from governance specialists Glass, Lewis & Co., we've picked Calpine's Peter Cartwright as a CEO in need of a recharge.
CEO: Peter Cartwright
Tenure: 20 years
Total Shareholder Return*: -82.0%
Peer Index Return*: 33.0%
S&P 500 Index Return*: -15.3%
Total CEO Pay*: $67.1 million
Under founder Cartwright, Calpine thrived as an independent power producer until it fell under the Field of Dreams spell. Build, build, build -- but they didn't come. Since then, it's been retrenchment, refinancing -- and re-disappointing. Add in Cartwright's option-choked pay program -- not to mention a board that includes a paid consultant and that has ignored two shareholder-backed governance proposals -- and you've got a company where "power glut" has more than one meaning.
*Data from Glass, Lewis & Co. and FactSet Research Systems for five years ending February 2005
Related Stories: | Topics:Leadership, Ethonomics, philanthropy, Environmental Activism, Electric Utilities, Utilities Sector, Independent Power Producers, Peter Cartwright, Business |
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Recent Comments | 1 Total
October 1, 2009 at 9:12am by Yono Suryadi
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