Ex-Westar CEO Strikes Deal For $39M In Pay, Fees

Law360, Wilmington (August 5, 2011, 7:50 PM EDT) -- Former Westar Energy Inc. CEO David Wittig has settled a compensation and legal fees dispute with the company for $39.1 million, Westar announced Thursday, one year after federal prosecutors dropped their case alleging the executive looted the Kansas public utility in a complex securities scheme.

Under a settlement reached in July, Westar will pay Wittig $36 million in previously disputed compensation and $3.1 million for legal fees from the criminal case, according to Westar spokesman Leonard Allen.

Westar spokeswoman Gina Penzig said, “This does bring to...
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