8-KLeadership Changes

AMEREN CORP 8-K Report, Executive Changes (Jun 15, 2010)

Filed June 15, 2010For Securities:AEE

Summary

This Form 8-K filing from Ameren Corporation (AEE) on June 15, 2010, reports on adjustments to the base salaries of its top executives. Specifically, the base salary for Chairman, President, and CEO Thomas R. Voss will increase from $750,000 to $817,500, effective July 1, 2010. Concurrently, Senior Vice President and CFO Martin J. Lyons, Jr.'s base salary will rise from $390,000 to $460,000, effective June 16, 2010. The company's Human Resources Committee and Board of Directors approved these increases based on individual performance evaluations and a market analysis of compensation for similar roles within the regulated utility industry. The review indicated that both executives' existing base salaries were below the 80% market median. All other terms of their compensation packages remain unchanged.

Key Highlights

  • 1Ameren Corporation's CEO, Thomas R. Voss, received a base salary increase to $817,500 from $750,000, effective July 1, 2010.
  • 2Ameren Corporation's CFO, Martin J. Lyons, Jr., received a base salary increase to $460,000 from $390,000, effective June 16, 2010.
  • 3The salary adjustments were approved by the Human Resources Committee and ratified by the Board of Directors.
  • 4The increases were motivated by individual executive performance and market data for similar roles in the regulated utility sector.
  • 5The company's market analysis found that both executives' prior base salaries were below 80% of the market median.
  • 6No other material terms of the executives' compensation plans were altered.

Frequently Asked Questions

The increases were a result of the Human Resources Committee's review, considering both the individual performance of Mr. Voss and Mr. Lyons, and a market analysis of compensation for chief executive officer and chief financial officer positions at comparable regulated utility companies. The analysis showed their existing salaries were below the market median.

Mr. Thomas R. Voss's base salary increased from $750,000 to $817,500, effective July 1, 2010. Mr. Martin J. Lyons, Jr.'s base salary increased from $390,000 to $460,000, effective June 16, 2010.

No, the filing states that all other material terms and conditions of Messrs. Voss's and Lyons's compensatory plans, contracts, or arrangements with Ameren remain the same.

This indicates that Ameren believed its top executives were being compensated below what is typical for their roles within the industry, based on their peer group. The adjustment aims to bring their base salaries more in line with market standards, potentially for retention and to reflect their market value.