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The Boston Globe

Business

Coakley presses utility to reveal chief’s pay

Attorney General Martha Coakley on Friday said she will use her statutory authority to begin the process of compelling Northeast Utilities to release a full accounting of chief executive Thomas J. May’s 2012 compensation.

The public company, which merged with NStar last April, has refused to disclose what May earned in the first three months of 2012, when he was still head of the Boston utility, citing a technicality in the reporting requirements of the Securities and Exchange Commission. Because NStar no longer exists as its own public company, SEC rules say it need not report what May earned during the quarter before the merger closed, including any bonuses or the millions in accelerated stock awards he was expected to get.

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