8-KLeadership Changes

EDISON INTERNATIONAL 8-K Report, Executive Changes (Jul 1, 2008)

Filed July 1, 2008For Securities:EIX

Summary

This 8-K filing from Edison International (EIX) reports changes to the compensation of Theodore F. Craver, Jr. in anticipation of his assumption of the dual roles of Chairman and Chief Executive Officer, effective August 1, 2008. The Compensation and Executive Personnel Committee approved an increase in his base salary to $1,050,000 and an increase in his target annual bonus to $1,050,000. Additionally, Mr. Craver will receive car service as part of his compensation package. These adjustments reflect the expanded responsibilities he will undertake in leading the company. Investors should note that this compensation change is directly tied to Mr. Craver's promotion to the top leadership positions within Edison International. The increased base salary and target bonus align with the elevated scope of his role as both Chairman and CEO. This information is particularly relevant for shareholders evaluating executive compensation and its potential impact on the company's financial performance and operational direction.

Key Highlights

  • 1Theodore F. Craver, Jr. to assume roles of Chairman and CEO of Edison International on August 1, 2008.
  • 2Compensation increase approved for Theodore F. Craver, Jr. effective August 1, 2008.
  • 3Base salary increased to $1,050,000.
  • 4Target annual bonus level increased to $1,050,000.
  • 5Car service will be provided as part of his compensation.
  • 6Mr. Craver was previously a named executive officer in the 2008 Joint Proxy Statement.

Frequently Asked Questions

This filing is primarily to report changes in the compensation of Theodore F. Craver, Jr. due to his upcoming assumption of the Chairman and Chief Executive Officer roles at Edison International.

The new compensation arrangements, including the increased base salary and target bonus, will be effective on August 1, 2008.

His base salary will increase to $1,050,000, his target annual bonus level will increase to $1,050,000, and he will receive car service.

This filing specifically addresses the compensation adjustment for the incoming Chairman and CEO due to expanded responsibilities. It does not inherently indicate a broader change in the company's overall compensation strategy, but rather a specific adjustment for a key executive leadership role.