Bonuses of nearly $300,000 paid to pipeline corporation head as Dunleavy names new board members
The president of the state-sanctioned Alaska Gasline Development Corp. has received performance bonuses totaling nearly $300,000 for work the past two years.
Tim Fitzpatrick, a corporation spokesman, says the board conducted performance reviews for president Keith Meyer and a three-member executive committee decided on the amounts. He says the money was awarded in late December.
Fitzpatrick notes Meyer is eligible for performance bonuses of up to $200,000 annually under his contract.
Meyer has a $550,000 base annual salary. His three-year contract began in June 2016.
Fitzpatrick says Meyer offered to take his bonuses as stock in a corporation subsidiary at a future date when the subsidiary would issue stock. But he says the board opted to award the cash bonuses.
The corporation is pursuing a major liquefied natural gas project.
In the same week the Associated Press reported the bonuses, Gov. Mike Dunleavy has announced changes to the Alaska Gasline Development Corp’s board of directors, including state department head-level and public appointees.
Dunleavy appointed Labor and Workforce Development Commissioner Dr. Tamika Ledbetter and Department of Environmental Conservation Commissioner Jason Brune to the board. The board’s seven-member structure includes two “principal department heads of the State of Alaska.”
Of the five public members, Dunleavy has named Doug Smith and Dan Coffey, both of Anchorage, to the seats formerly held by Hugh Short of Girdwood and Joey Merrick of Eagle River.
Smith, Dunleavy says, has been in the oil and gas and construction industries for more than 25 years, and has previously served as the President and CEO of ASRC Energy Services, and on the boards of the Resource Development Council and Alaska Support Industry Alliance.
Coffey, who’s served two terms as the chair of the Anchorage Assembly, is described by Dunleavy as a business owner, attorney and longtime oil and gas advocate. Coffey has also been the chairman of the Alaska Board of Fish, chairman of the Anchorage Energy Commission, and a member of AGDC’s Community Advisory Council.
The new members must now be confirmed by the Alaska Legislature. They join current board members Dave Cruz of Palmer, David Wight of Anchorage and Warren Christian of North Pole.