President and CEO Doyle Beneby announced Friday that he will remain with CPS Energy, accepting an offer made by the Board of Trustees at their Feb. 1 meeting to extend his contract.
Less than a year after his arrival in San Antonio, Beneby began to implement the Board’s Vision 2020 and launched the company’s New Energy Economy initiative. Through this initiative, CPS Energy is using the company’s purchasing power to leverage economic development and educational investment in San Antonio — while attracting clean technology innovators that are expected to add more than one thousand high-tech jobs to the community by 2018.
Most recently, CPS Energy’s New Energy Economy partners have broken ground on a solar panel manufacturing facility at Brooks City Base, and a groundbreaking for the first solar farm is scheduled for early March.
In an announcement to CPS Energy’s 3,500 employees, Beneby noted, “I am proud to lead this organization and flattered to be offered the opportunity to continue here. I believe very much that some of the most exciting work in the utility industry is happening at CPS Energy, and we are poised to succeed in spite of any challenges that lie ahead. Thank you all for the work that you continue to do so well, which has allowed me the opportunity to continue to lead this organization.”
The contract extension calls for the same compensation and incentive structure proposed by the Board on Feb. 1.