JACKSONVILLE, Fla. – The JEA Compensation Committee voted Tuesday to recommend a three-year contract extension for CEO Vickie Cavey to bring her salary to $700,000 annually.
The contract will be reviewed by the full board next Tuesday, Feb. 25.
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Cavey, who took over as CEO in May 2024, initially earned $560,000, while her predecessor, Jay Stowe, earned $669,500.
A market analysis suggested raising Cavey’s salary to $807,000, as JEA ranks high in workforce size and capacity but low in CEO pay compared to similar utilities.
“Over the last 10 months, Vickie has led JEA with a dedication to fiscal stewardship, reestablishing trust with the board and a commitment to the community we serve,” JEA Board Chair Joe DiSalvo said.
According to DiSalvo, JEA is in the 80th percentile of large public power utilities nationally. However, the current JEA CEO compensation is in the 40th percentile.
“Today, the committee approves a contract we believe is in the best interest of JEA and maintaining stable leadership for the foreseeable future,” DiSalvo said.
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Cavey’s contract proposal includes a $2,000 monthly business allowance and an $850 vehicle allowance, with a 3% annual salary increase.
The JEA board is expected to vote on the recommendation at its next meeting on Feb. 25.
