Business
NRG replaces CEO and adds four members to board after push from activist investor
by Claire Hao, Houston Chronicle | Source: Houston Chronicle | Posted 11/20/2023
Mauricio Gutierrez resigned as CEO of NRG Energy on Friday.
Mauricio Gutierrez, CEO of NRG Energy, has stepped down from his position along with his seat on the company’s board. This move follows a leadership shake-up driven by activist investor Elliott Investment Management, which also resulted in the addition of four independent directors to NRG’s board. The departure of Gutierrez may indicate a strategic shift for the power generation company.
Analysts have expressed surprise at Gutierrez’s departure, as NRG had addressed concerns raised by investors and its share price had rebounded. Lawrence Coben, NRG’s chairman, will serve as interim CEO while the board searches for a permanent leader. Additionally, NRG will expand its board to 13 members from 10, in accordance with an agreement with Elliott Investment Management.
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Source Link: https://www.houstonchronicle.com/business/energy/article/nrg-ceo-gutierrez-resign-elliot-management-18504048.php
Keywords
Mauricio Gutierrez | NRG Energy | stock prices | Alex Pourbaix | Elliot Investiment Management | Lawrence Coben | Marwan Fawaz | Kevin Howell | Marcie Ziotnik
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