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Virginian-Pilot, The (Norfolk, VA) (KRT) via NewsEdge Corporation :

Mar. 29–NORFOLK — The Virginia Port Authority’s operating company agreed this week to fully disclose the compensation of its three highest-paid executives, authority Chairman John G. Milliken said Wednesday.

Last year, when Virginia International Terminals Inc. was first required to provide the pay information to its parent authority, it disclosed only the salary and bonus for its chief executive, Joseph A. Dorto, and two of his lieutenants.

In a closed-door meeting Tuesday with the Port Authority commissioners, VIT’s directors agreed to break out all parts of the three executives’ compensation when they submit their budget to the authority in May, Milliken said. That includes car allowances and retirement pay.

“It’ll be a complete disclosure of all elements of compensation,” Milliken said.

Marvin S. Friedberg, president of VIT’s Board of Directors, said Milliken could speak for him on this issue.

The joint meeting, one of about two each year, was mostly spent discussing VIT’s operation of the authority’s three marine terminals. Milliken described it as “very informative, very useful.”

— Reach Gregory Richards at (757) 446-2599 or gregory.richards@pilotonline.com.

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