The biggest US private water opportunity of 2019 was brought to an abrupt halt on 27 December when the Jacksonville Electric Authority (JEA) rejected all nine proposals outlining strategic alternatives for the utility's future ownership. The move was precipitated by a 17 December board vote in favour of terminating CEO Aaron Zahn's employment without cause, after details emerged of a performance incentive scheme that he had put in place which could have involved hundreds of millions of dollars flowing out of the utility in the event that it was sold for a higher price than the expected minimum.
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