IE Business Daily Business news for the Inland Empire.
John Russo, Riverside’s new city manager, will be paid well for his work.
Russo, who is scheduled to start May 4, has a five-year contract that will pay him $295,000 a year plus an annual raise of three percent for good performance, according to a report in The Press-Enterprise.
Russo will be among the highest paid city executives in the Inland Empire, and he will be making slightly more than Brad Hudson was earning as Riverside’s city manager when he stepped down in 2011.
Further benefits – vacation, car allowance, medical-dental coverage and retirement, moving and temporary living expenses – raise Russo’s total compensation to a possible $412,318 a year, the report stated.
That figure would be the high end of the contract. Should he be fired, Russo would receive one year’s salary as severance.
Riverside officials say it’s necessary to pay top dollar in order to attract executive talent and then to keep it from leaving, the report stated.
