Black executive Lloyd Yates earns $7.1-million salary from NiSource in 2022

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.