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Robert C. Rowe served as the President and CEO of NorthWestern Energy from 2008 until the end of 2022, marking 14 years at the helm of the company. With a background in regulatory affairs and a history of leadership roles,...

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Robert C. Rowe

Founder and Ex-CEO of NorthWestern Energy Group, Inc.

Education

Not specified

Field of Expertise

Legal & Compliance - Regulatory

Sector of Economy

Utilities

Born

January 1, 1955 - 70 years ago

CEO of NorthWestern Energy Group, Inc. for

14 years 4 months (Aug 2008 - Dec 2022)

Previous Experience

Co-founder and senior partner at Balhoff, Rowe & Williams, LLC; Chairman and Commissioner of the Montana Public Service Commission (1993-2004).

Holdings

See how much did Robert C. Rowe make over time.

During his time as CEO, Robert C. Rowe held a significant amount of NorthWestern Energy's stock, which played a central role in his compensation package. In 2022, his total compensation was approximately $3,375,572, which came from a combination of base...

Insider Trading

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No insider trades found for this CEO.

Compensation History

See how much did Robert C. Rowe make over time.

Rowe's compensation varied throughout his tenure, with his salary starting at $500,000 and reaching over $3.3 million in later years. In 2022, he earned a salary of $691,669, but due to unmet performance targets, he did not receive a bonus that year. His compensation structure included vested stock units that were influenced by the company's performance metrics like net income and customer satisfaction. Over the years, Rowe received various stock awards that were performance-based, showing a clear connection between his pay and how well the company was doing. This model was designed to align his interests with those of the shareholders and the company's long-term goals, although it reflected the pressures and uncertainties of the energy industry. His approach to compensation has emphasized accountability and performance, reflecting a broader trend in executive pay in the utility sector, where achieving set goals can drastically affect total earnings.

Year

2022

Total Compensation

$976.18K

Salary

$691.67K

Board Justification

The compensation philosophy is designed to align the interests of shareholders, customers, employees, and regulators, providing competitive pay that reflects performance in achieving financial and non-financial operating objectives.

Bonus

$0.00

Board Justification

No bonus was awarded in 2022 as the performance targets were not met due to the financial results being impacted by the COVID-19 pandemic.

Other

$73.79K

Board Justification

This includes health benefits, life insurance, and other compensation that is generally available to all employees.

Restricted Stock

$210.72K(35.51K RSU)

Board Justification

The total value of stock awards that vested in 2022, including LTIP and ERRP awards, based on performance metrics achieved.

Performance Metrics

The performance metrics for 2022 included targets for net income, reliability, and customer satisfaction.