Knox News uses verb "focused" on Trump TVA salary obsession.

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Why Trump is focused on TVA CEO pay, and why the salary stands out

Mariah Franklin

Knoxville News Sentinel

Updated April 8, 2026, 9:10 a.m. ET

Don Moul announced his plans to retire as Tennessee Valley Authority CEO amid criticism from President Donald Trump over his pay, which is influenced by TVA’s unique structure as the nation’s largest public utility.

TVA is a federal utility serving roughly 10 million people across a seven-state region. It sells power to 153 local power companies, but it doesn't take taxpayer dollars.

Instead, ratepayers across the utility's service territory fund the work done by TVA, where compensation has long been a topic of debate.

 

Moul is the second chief executive at TVA since January 2025 to announce a decision to leave amid criticism from the president concerning their pay.

Trump brought up the $10 million compensation of Moul's predecessor Jeff Lyash, during a February meeting at the White House in which the president vowed to make the current CEO's "life miserable."

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In a March 11 memo, the president encouraged the TVA board − comprised of four Trump-appointed and two Biden-appointed members − to cap pay at $500,000 across TVA. This would represent a major change for an organization with diverse business lines and more than 10,000 employees.

TVA's board has until June to decide.

 

Meanwhile, Moul has decided to retire by July 1, giving the board three months to pick a replacement. Moul announced these plans in early April, just shy of his one-year anniversary as CEO.

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The federal law that created TVA requires the board of directors to base compensation for CEOs on a yearly survey of similar pay packages among the leaders of private companies, public utilities and governments.

Pay for CEOs at private utilities like Southern Power is often much higher than what TVAs CEOs make.

Earning roughly $6 million last year, Moul is the highest paid federal employee. Lynn Good, for comparison, had a $21.3 million compensation package in 2024 as CEO of Duke Energy, according to reporting by The Charlotte Business Journal.

 

TVA board members, who are expected to select a replacement for Moul in short order, are nominated by the U.S. president and confirmed by the Senate.

Mariah Franklin reports on technology and energy for Knox News. Email: mariah.franklin@knoxnews.com. Signal: mariahfranklin.01

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