Santee Cooper extends executives’ contracts amid challenges

State - Regional
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MONCKS CORNER, S.C. (AP) — South Carolina’s state-owned utility company extended the contracts of its two executives Monday amid continuing debate by state lawmakers whether to sell or reform the company.

The Post & Courier reports Santee Cooper’s board of directors voted to give Mark Bonsall, the CEO, and Charles Duckworth, the deputy CEO, a six-months extension with their current salary amount. Under the new contact, both Bonsall and Duckworth will continue to serve at the company until July 2021.

Lawmakers have been debating the future of the company since it took on $4 billion in debt for a minority stake in a pair of nuclear reactors that never generated power.

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