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Port approves senior management salaries, bonuses

Distribution & Logistics
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The S.C. State Ports Authority board approved salary hikes and bonuses for senior management during its September board meeting.

For fiscal 2017, the port reached 80% payout of its bonus plan, compared with 24% payout in the year prior. The port’s volume growth, cash flow and productivity for the year determine bonus payouts.

Bonus amounts are based on a percentage of an employee’s base salary, in addition to attainment of goals. For example, the CEO gets 33% of his salary, or about $121,000 for fiscal 2017. The top six senior managers and the CEO received a total of $390,000 in bonuses for fiscal 2017.

The board also approved new salaries for the executive team, effective Jan. 1:

Name/title

Annual Salary

Jim Newsome, president and CEO

$480,000

Paul McClintock, senior vice president of sales and marketing

$270,000

Barbara Melvin, senior vice president of operations and terminals

$275,000

Stan Van Ostran, senior vice president of finance and administration

$240,000

Jordi Yarborough, senior vice president of external affairs

$190,000

Bob Mozdean, senior vice president of human resources

$200,000

Source: S.C. State Ports Authority

The board reported the port’s container volumes during the Sept. 25 meeting. The Port of Charleston handled 177,728 20-foot equivalent units, known as TEUs, in August. This is down slightly, about 1.3%, from August 2016.

As measured in total box volume, the port handled 100,427 pier containers in August.

“Fall is a traditionally strong season for the port, and we look for year-over-year volumes to increase in September and October compared to moderate growth in August,” Port President and CEO Jim Newsome said in a news release.

Description

FY18 to date (July-Aug.)

% change from ’17

Total TEUs

360,139

0.8%

Total pier containers

203,746

1.1%

Charleston break-bulk pier tons

88,035

-41.9%

Vehicles

32,019

-22.5%

Cruise passengers

36,528

4.8%

Ships docked

266

-14.7%

Greer Inland Port rail moves

19,753

18.3%

Operating revenues*

$19.56 million

5.9%

Operating expenses*

$15.36 million

10.6%

Operating earnings*

$4.20 million

-8.4%

Source: S.C. State Ports Authority
*For the period ending July 31

Reach Liz Segrist at 843-849-3119.

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