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MarketScreener Homepage  >  Equities  >  Nyse  >  Edison International    EIX

EDISON INTERNATIONAL

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Edison International : to Pay No Annual Incentive to CEO, Four Most-Senior Executives

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03/15/2019 | 06:30pm EDT

By Stephen Nakrosis

The president and chief executive of energy company Edison International (EIX) said Friday that "no annual incentive would be paid for 2018 to me and my four senior-most executive colleagues."

The announcement, made in a letter to shareholders from Pedro J. Pizarro, said the Board of Director's Compensation Committee made the decision "in consultation with management and with our full support and agreement."

Mr. Pizarro said the decision "was not a reflection on the performance of the company or these individuals."

Edison is dealing with the aftermath of a series of California wildfires and the possibility it could face billions of dollars in potential liabilities.

Mr. Pizarro said Edison International and Southern California Edison are working "through the challenges created by the "new normal" of California wildfires," and added that although the company continues to progress with its clean energy strategy, "combating wildfire threats and doing so safely is the company's top priority."

To enhance wildfire safety and reduce the risk of future wildfires, the letter said Edison is working to harden its grid infrastructure, to increase its awareness of weather situations which could heighten wildfire conditions, and to enhance operating practices with "more proactive vegetation management, enhanced inspections and temporary power shutoffs during high-risk conditions."

Mr. Pizarro said the board also approved a $3 million donation to the Edison International Wildfire Assistance Fund "to help communities recovering from wildfires and to enhance community resiliency and wildfire prevention and mitigation."

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
EDISON INTERNATIONAL -0.80% 63.01 Delayed Quote.11.89%
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Financials ($)
Sales 2019 13 125 M
EBIT 2019 2 629 M
Net income 2019 1 481 M
Debt 2019 17 444 M
Yield 2019 3,90%
P/E ratio 2019 13,98
P/E ratio 2020 13,18
EV / Sales 2019 2,91x
EV / Sales 2020 2,90x
Capitalization 20 696 M
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Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 68,1 $
Spread / Average Target 7,2%
EPS Revisions
Managers
NameTitle
Pedro J. Pizarro President, Chief Executive Officer & Director
William P. Sullivan Non-Executive Chairman
Maria C. Rigatti Chief Financial Officer & Executive Vice President
Vanessa C. L. Chang Independent Director
Brett W. White Lead Independent Director
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