Dive Summary:

• Preston Swafford, the Tennessee Valley Authority’s (TVA) nuclear power chief, will get half-million dollars to depart the agency by October, according to a filing with the Securities and Exchange Commission on Friday.
• Swafford is eligible to receive a bonus of $552,488 “in connection with his resignation” in addition to an "executive annual incentive plan" payment and the "executive long-term incentive plan".
• Swafford began his tenure as TVA’s vice president in charge of TVA’s three operating nuclear plants in 2006. In 2012, Swafford earned $2.3 million. In 2010, the Nuclear Regulatory Authority (NRC) red-flagged TVA’s Browns Ferry Nuclear Plant for failing to detect problems with a key safety system valve. The NRC continues to monitor the plant.

From the article:
“Longtime Exelon executive Joseph P. Grimes will step in to the CNO position after Swafford's retirement.”