Jay Stowe’s first day on the job as CEO and managing director of city-owned utility JEA will be Nov. 30.
The former Tennessee Valley Authority and Huntsville, Alabama, public utility executive signed a five-year contract with JEA on Nov. 6, according to WJCT News partner the Jacksonville Daily Record. It includes a base salary of $560,000.
Related: Read Stowe’s Contract
JEA board Chair John Baker signed the fully executed contract Nov. 8.
Stowe’s deal includes JEA’s standard pension and health benefits; a monthly $850 vehicle allowance; a $1,000 per month business allowance; and an immediate allowed grant of 80 hours of leave.
He then will accrue leave at the same rate as JEA employees with five years of service at 184 hours a year.
Stowe will receive a 3% annual salary increase beginning in November 2021.
The board selected the 52-year-old Stowe as its next leader during a special meeting Nov. 2 to replace interim CEO Paul McElroy.
