One of America’s leading Black executives, Lloyd Yates, the president and chief executive officer of NiSource Inc., one of the largest, fully regulated utility companies in the United States, received a total compensation of nearly $7.11 million in 2022.
Yates — who assumed the CEO role on Feb. 14, 2022 — received a total compensation of $7.11 million. This compensation package includes a base salary of $0.88 million, as well as a short-term incentive of $0.95 million.
In recognition of his pivotal role in steering NiSource Inc., the leading Black business executive also received a long-term incentive award amounting to $4.67 million from the Indiana-based utility company.
Yates elevates NiSource to electric dominance, unleashing $3 billion in renewable energy
Under Yates‘s strategic guidance, NiSource Inc., has strengthened its position as one of the leading regulated electric groups in the United States, providing approximately $3 billion of renewable energy generation with a total system operating net capability of over 3,000 megawatts to nearly 500,000 customers.
With a distinguished career in the energy business spanning various industries, including Progress Energy, he demonstrated adeptness in fossil generation, energy delivery, and nuclear generation — contributing significantly to the industry’s growth.
Wealth and Leadership: Lloyd Yates’ $3.38-million stake in NiSource
In 2022, NiSource, under Yates, reported revenue of $5.85 billion — a modest increase of 4.89 percent from the previous year’s $4.89 billion. However, the company’s assets experienced a surge of 10.68 percent — from $24.16 billion in 2021 to $26.74 billion by the end of 2022.
Beyond his executive and governance roles, Yates owns a minority 0.03-percent stake in NiSource Inc., equivalent to 131,228 ordinary shares — this stake is presently worth $3.38 million, securing his position among America’s most affluent Black executives.
Under his leadership, the company is poised for continued growth, a testament to his ability to navigate complexities in the ever-changing business landscape.
