NextEra Energy, Inc. (NYSE: NEE) today (1/25) announced that Armando Pimentel, president and chief executive officer (CEO), NextEra Energy Resources, LLC, the company's competitive power generation subsidiary, will be retiring on March 1, 2019, as part of a planned leadership succession process.
John Ketchum, currently executive vice president and chief financial officer (CFO) of NextEra Energy, will replace Pimentel as president and CEO at NextEra Energy Resources. Rebecca Kujawa, currently vice president, business management, NextEra Energy Resources, will succeed Ketchum as executive vice president and CFO of NextEra Energy.
"Armando has been an enormous contributor to NextEra Energy's success during his more than 10 years with the company, helping to build an industry-leading business during his tenure as CEO of NextEra Energy Resources," said Jim Robo, chairman and CEO of NextEra Energy. "His steady leadership, business acumen and financial discipline has steered Energy Resources through a period of unprecedented growth and financial success that saw a doubling of our combined solar and wind generation capacity and a significant increase in net income contribution. Years from now we will look back at Armando's tenure and recognize the important path that he has paved for NextEra Energy and the renewables sector. It is an understatement to say we will miss him, but we are also excited for Armando and what will come in his next chapter."
Commenting on his retirement, Pimentel stated, "It has been a distinct honor and the highlight of my career to have worked for NextEra Energy during such a dynamic period in the company's history. We've grown to become the world's leading clean energy company and the largest generator of renewable energy. I strongly believe that we are just getting started and I have tremendous faith that John is the ideal successor to lead the Energy Resources team into the future due to his strong financial acumen, knowledge of the sector and passion for building a world-leading energy company. I'm equally thrilled that Rebecca will be succeeding John as CFO. She is one of our most outstanding financial and commercial minds and has been instrumental in assisting me to lead NextEra Energy Resources."
Regarding the senior executive promotions, Robo said, "John is an exceptional leader who has emerged as one of the premier CFOs in our sector over the last three years. With his strong finance and commercial expertise and deep knowledge of Energy Resources, he is uniquely suited for his new responsibilities as president and CEO of NextEra Energy Resources and president of NextEra Energy Partners, and I look forward to his leadership in these new roles.
"Rebecca has a proven track record of execution, outstanding finance and commercial skills and an unparalleled understanding of the NextEra Energy enterprise. She has been instrumental in helping Armando lead Energy Resources and develop our strategy for NextEra Energy Partners over the last several years, and her innovative, analytical and strategic mindset will serve her well. I'm extremely pleased to have Rebecca serve as our CFO and have the utmost confidence and trust in her capabilities. As NextEra Energy continues to grow and expand, I believe that John and Rebecca's contributions will be a critical component of our ongoing success."
Ketchum has served as CFO for NextEra Energy since March 2016 and was voted the No. 1 CFO in the utilities sector by investors in the 2019 All-America Executive Team survey conducted by Institutional Investor Magazine. He has worked for NextEra Energy for more than 16 years and has a diverse finance, legal, business and commercial transactions background with a broad range of experience, including key leadership roles at NextEra Energy Resources. Ketchum earned a Bachelor of Arts degree in economics and finance from the University of Arizona and a Master of Laws degree in taxation and a Juris Doctor from the University of Missouri - Kansas City School of Law.
He is currently a member of the board of directors of NextEra Energy Partners, LP (NYSE: NEP). As part of his new responsibilities, he will continue to serve as a member of the board and will be appointed president of NextEra Energy Partners.
Kujawa joined NextEra Energy in February 2007 and has held a number of key roles throughout the enterprise, serving as vice president of business management for the Midwest and international region for NextEra Energy Resources and, prior to that, serving as director of investor relations for NextEra Energy. She has extensive finance, operations, accounting, risk management, project finance and project development experience. Prior to joining the company, Kujawa worked as senior vice president, research, for Stanford Group Company and senior equity analyst for Avalon Research Group. She started her career as an equity derivatives sales trader for Goldman Sachs & Co. in New York. Kujawa earned a Bachelor of Arts degree in public policy studies from Duke University and holds the chartered financial analyst (CFA) designation.
In her new role, Kujawa will have responsibility for accounting, forecasting, tax, treasury, investor relations, risk management and information technology. She will also become a member of the board of directors of NextEra Energy Partners.
NextEra Energy, Inc.
NextEra Energy, Inc. (NYSE: NEE) is a leading clean energy company headquartered in Juno Beach, Florida. NextEra Energy owns two electric companies in Florida: Florida Power & Light Company, which serves more than five million customer accounts in Florida and is the largest rate-regulated electric utility in the United States as measured by retail electricity produced and sold; and Gulf Power Company, which serves more than 460,000 customers in eight counties throughout northwest Florida. NextEra Energy also owns a competitive energy business, NextEra Energy Resources, LLC, which, together with its affiliated entities, is the world's largest generator of renewable energy from the wind and sun and a world leader in battery storage. Through its subsidiaries, NextEra Energy generates clean, emissions-free electricity from eight commercial nuclear power units in Florida, New Hampshire, Iowa and Wisconsin. A Fortune 200 company and included in the S&P 100 index, NextEra Energy has been recognized often by third parties for its efforts in sustainability, corporate responsibility, ethics and compliance, and diversity. NextEra Energy is ranked No. 1 in the electric and gas utilities industry on Fortune's 2019 list of "World's Most Admired Companies" and ranked among the top 25 on Fortune's 2018 list of companies that "Change the World." For more information about NextEra Energy companies, visit these websites: www.NextEraEnergy.com, www.FPL.com, www.GulfPower.com, www.NextEraEnergyResources.com.