$375K is recommended salary for new LVCVA CEO Steve Hill

Going into Tuesday’s Las Vegas Convention and Visitors Authority board of directors meeting, Steve Hill said he had no idea how much he was going to be paid as president and CEO of the organization.

On Tuesday, he got the answer: $375,000 a year with the possibility of getting a 40 percent performance bonus.

The board, in a unanimous vote, approved a three-year employment agreement with two one-year extensions with annual reviews for raises and bonuses, effective Sept. 1.

Hill’s predecessor, Rossi Ralenkotter, didn’t have an employment agreement with the board.

A year ago, Hill headed the Governor’s Office of Economic Development. Gov. Brian Sandoval liked his work and appointed him to lead the Southern Nevada Tourism Infrastructure Committee, a group tasked to prioritize capital works projects that could benefit Southern Nevada’s biggest industry.

Among the ideas to come out of the committee was a plan to develop an indoor football stadium suitable for housing a National Football League team and an expansion of the Las Vegas Convention Center to help Las Vegas maintain its lead as the nation’s dominant trade show host.

Sandoval again liked Hill’s style and appointed him to chair the Las Vegas Stadium Authority.

Meanwhile, Ralenkotter, with an eye toward someday retiring, invited Hill to breakfast to gauge his interest in taking the position of chief operating officer. After a review of several potential applicants, Hill took the chief operating officer job at the LVCVA in January seeing his annual salary jump from $132,875 a year at GOED, according to Transparent Nevada, to $315,000.

Sept. 1 starting day

When Ralenkotter left the LVCVA on Aug. 31, Hill took over the next day. On Monday, Hill, in an interview with the Las Vegas Review-Journal editorial board, was asked how much he thought he was going to be paid.

“I don’t know the answer to that,” he said.

“I think it’s important for the destination that the position be compensated competitively, regardless of the structure,” he said. “It’s an important organization and I think the entire industry and the board feel that the position needs to be able to be filled with someone who can perform at that level and be compensated at that level.”

Hill’s compensation came up at two meetings Tuesday, the first with a seven-member compensation committee, the second before the full 14-member board.

With little debate, the committee agreed on $375,000 a year. Committee members noted that the median salary for similar positions nationwide was between $440,000 and $450,000. When Ralenkotter left, his base salary was $440,400.

Compensation committee member Chuck Bowling, an MGM Resorts International executive, said the LVCVA’s CEO is unique in that it oversees both the marketing efforts of the organization and management of the Las Vegas Convention Center.

The full board concurred in a unanimous vote with all members congratulating Hill for his successful transition.

Hill’s goals

At the LVCVA’s October meeting, Hill has been asked to outline his goals as CEO. He has stated that he hopes to guide innovation and mobility into and around Las Vegas through technology and good collaborative planning.

He also said he will work to keep Las Vegas the top trade-show destination in the country, a designation bestowed on the city by Trade Show Weekly, which ranks destinations by the amount of trade-show space sold.

The board said it would “touch base” with Hill on his goals in six months. He’d be eligible for an up to 40 percent bonus when the board evaluates his performance in about a year.

Hill’s eight-page employment agreement also stipulates participation in the Public Employees’ Retirement System of Nevada, receiving health-care benefits and getting a monthly car allowance of $600 and a telecommunication allowance of $140.

The three-year contract includes two additional one-year extension terms. It also includes a clause stating that his compensation can’t be reduced unless across-the-board reductions are ordered for all executives.

Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @RickVelotta on Twitter.

ad-high_impact_4
Business
Bellagio Conservatory transformed to celebrate Year of the Pig
The Bellagio Conservatory Team transformed the 14,000 square foot conservatory to commemorate Chinese New Year, the holiday that marks the end of the coldest days of winter. (Rachel Aston/Las Vegas Review-Journal)
CES 2019: Intro uses sound to connect people
Intro, a startup that is part of the Future Worlds Accelerator in the UK, has an app that uses ultrasonic sound to find people and companies nearby.
CES 2019 Video: CES wraps up another year
Time-lapse video of the action at CES 2019 in Las Vegas. (Mat Luschek/Las Vegas Review-Journal)
CES 2019: Create your own beauty products
Beauty Mix by BeautyByMe is a product that lets you create your own cosmetics and beauty products. (Mat Luschek/Las Vegas Review-Journal)
CES 2019: Picobrew’s home brew machine
Picobrew brings automation to homebrewing. (Mat Luschek/Las Vegas Review-Journal)
CES 2019: Surviving CES
What it's like to spend four days working the mammoth tech convention. (Jason Bracelin/Las Vegas Review-Journal)
Haier’s smart home
Haier presented smart home technology at CES 2019.
CES 2019 VIDEO: Foldimate makes laundry day easy
Foldimate has created a machine that will fold your laundry for you. Just feed it anything you need folded and it will do the rest. (Mat Luschek/Las Vegas Review-Journal)
CES 2019: Opte device corrects skin spots
Opte from Proctor and Gamble is a device for correcting spots and freckles from skin. It analyzes the area for spots and then covers them with a serum of matching skin tone. (Mat Luschek/Las Vegas Review-Journal)
Circa hotel-casino in downtown Las Vegas unveiled
Derek Stevens reveals Circa hotel-casino in downtown Las Vegas. He plans open by the end of 2020. (K.M Cannon/Las Vegas Review-Journal)
Circa, new casino coming to Fremont Street
Casino owner Derek Stevens announces his new property Circa, coming to Fremont Street in downtown Las Vegas in late 2020. (Michael Quine/Las Vegas Review-Journal)
Dreenk My Oeno makes wine suggestions
At CES 2019 in Las Vegas, the Dreenk My Oeno tells you all about wine.
Polaroid One Step Plus camera unveiled at CES 2019
Polaroid has moved into the digital age with its One Step Plus camera with Bluetooth. With the connected app, it turns your smartphone into a remote for the camera, along with filters and features.
Amazon is everywhere at CES 2019 in Las Vegas
Seemingly everything works with Amazon Alexa
LG Smart Mirror helps you dress snazzy
LG’s Smart Mirror is less of a mirror but more of an assistant to help get you looking snazzy. It takes your image and recommends clothes for you or matches existing clothes with new clothes, which can be purchased right from the mirror. (Mat Luschek/Las Vegas Review-Journal)
Underwater robots make waves at CES 2019 in Las Vegas
Robosea is a company dedicated to underwater robotics. They produce consumer robots for underwater filming as well as commercial products which can be used for underwater research. (Mat Luschek/Las Vegas Review-Journal)
CES 2019 - Victrola record players spin in Las Vegas
A new spin on an old favorite, Victrola record players are meeting a demand for retro products. The brand is also making furnitures with built-in speakers.
CES 2019: Slamtec robots ready to serve
Slamtec is a robotics company out of China whose goal is to provide solutions for laser localization mapping and navigation. They have created two autonomous robots that can be used in areas such as bars, restaurants and malls. (Mat Luschek/Las Vegas Review-Journal)
Mixologiq drink maker appears at CES 2019 in Las Vegas.
This is the Mixologiq drink maker.
CES 2019: Veritable smart garden
Let’s face it; not all of us have green thumbs. And herbs are particularly difficult to grow, considering their constant need for sunshine. Enter the Veritable smart garden from Exky, which does it all for you. (Heidi Knapp Rinella/Las Vegas Review-Journal)
Bonnie Springs Ranch near Las Vegas being sold to developer
Bonnie Springs Ranch near Las Vegas is being sold to a developer, set to close in March. Bonnie Springs, west of Las Vegas off State Route 159 — next to Spring Mountain Ranch State Park — spans more than 60 acres and was on the market for $31 million. The developer and his project partner are under contract to buy the ranch and plan to chop it up mostly into custom-home lots. The plans includes a 25-room motel, a restaurant and a 5,400-square-foot event barn.
Bone-conduction headphones form Aftershokz
Aftershokz offers bone-conduction headphones - headphones that don’t go in the ear.
CES Happy Hour party at Hangover Suite at Caesars Palace
Conventioneers mingled during the Hardware Massive CES 2019 Happy Hour Bash at The Hangover Suite at Caesars Palace in Las Vegas. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
Autonomous Cars and Futuristic Aircraft Rule CES
Day two of CES was dominated by autonomous cars and futuristic aircraft in the North Hall of the Las Vegas Convention Center.
TekNekSavr fights neck problems caused by smart phones
Atiya Syverson invented the TekNekSavr to help fight neck and head problems caused by strains while typing on smart phones. (Mat Luschek/Las Vegas Review-Journal)
New eyeglasses know if you fall and call for help
The French company Abeye has created eye glasses that will detect if the wearer falls and call for help. (Mat Luschek/Las Vegas Review-Journal)
Company that creates vibrator-like device claims genders bias against CES
Lora DiCarlo is a women-run start-up that creates a vibrator-like device designed for female pleasure called the Osé. This year they were awarded the CES Innovation Award in the Robotics and Drone Category, but a month later the Consumer Technology Association, which runs CES, rescinded the award and their booth. Haddock and her team believe it is a reflection of gender bias and sexism in an industry with a long history of male domination.
CES-Wagz has new pet products
Wagz has three new products to help create better lives for your pets in a digital world. One is a collar with LTE tracking and an HD camera. Also a smart pet door that only lets your pet in and out. Lastly, a device to humanely keep Fluffy out of certain areas of your home. (Mat Luschek/Las Vegas Review-Journal)
CES 2019: Varram lats you play with your pet remotely
Varram’s pet robot is designed to let you remotely interact with your real pet. (Mat Luschek/Las Vegas Review-Journal)
CES-Formlabs releases new products
Formlabs, a company that produces 3D printers for professionals, has released two new products that can be printed on their hardware. One is a material to print dentures, and the other is an elastic-like material that can be used for printing various flexible pieces. (Mat Luschek/Las Vegas Review-Journal)
TOP NEWS
News Headlines
Home Front Page Footer Listing
Circular
You May Like

You May Like