Milwaukee-based WEC Energy Group’s new chief financial officer and new Wisconsin segment president will each be paid in excess of $300,000 as a base salary.
[caption id="attachment_123597" align="alignright" width="333"] WEC Energy Group's Milwaukee corporate headquarters.[/caption]
Scott Lauber, 50, who becomes executive vice president and CFO of WEC and Wisconsin Electric April 1, will receive base compensation of $376,165 and could earn another $282,123 per year in short-term performance bonus. Lauber succeeds J. Patrick Keyes, who has been named president of Michigan Gas Utilities and Minnesota Energy Resources Corp., and president of WEC Business Services LLC. Lauber previously was vice president and treasurer of WEC and Wisconsin Electric beginning in February 2013. Before that, he served as assistant treasurer for two years.
J. Kevin Fletcher, 57, who will become president of WEC Energy’s Wisconsin segment May 1, will be paid a base of $420,000 annually, with another $294,000 available in short-term performance award each year. The Wisconsin segment includes Wisconsin Electric, Wisconsin Gas LLC and Wisconsin Public Service Corp. Fletcher previously was director and executive vice president-customer service and operations for Wisconsin Electric beginning in June 2015. Before that, he spent four years as senior vice president-customer operations at Wisconsin Electric.
According to a company filing with the SEC, the executives’ compensatory arrangements will otherwise remain “substantially the same.”