As part of planned succession process, NextEra Energy's Lew Hay to step down as CEO in 2012, retire in 2013; (117 hits)
JUNO BEACH, Fla. – Lewis “Lew” Hay, III, 56, today announced that he intends to retire from NextEra Energy, Inc., at the end of 2013 as part of a planned leadership succession process. Mr. Hay will step down as CEO effective July 1, 2012. The Board of Directors today appointed Mr. Hay to serve as Executive Chairman from July 1, 2012, until his retirement, and appointed James L. Robo, 49, currently President and Chief Operating Officer of NextEra Energy, to succeed Mr. Hay as Chief Executive Officer of the company, effective July 1, 2012. It is anticipated that Mr. Robo will be appointed to the Board of Directors on or about the effective date of his appointment as CEO.
Effective July 1, Mr. Robo will be responsible for the overall strategy and operations of the company, while Mr. Hay, in addition to his duties as Board Chairman, will have direct responsibility for the company’s legal, human resources and federal governmental affairs functions and will continue to provide input and counsel on strategy and other matters.
Michael H. Thaman, lead independent director on the NextEra Energy Board of Directors, said, “The Board of Directors is truly appreciative of Lew Hay’s leadership of this company for more than a decade. Lew led the transformation of NextEra Energy into one of the largest, cleanest, most successful players in the electric industry. As a fitting tribute to his vision and leadership, Fortune Magazine recently named NextEra Energy the most admired company in our industry for an unprecedented sixth consecutive time, reflecting input from the executives, board members and analysts who know the industry better than anyone else. Lew has guided the company through an incredible period of change and growth and has done so with integrity and a sharp focus on creating value for customers, shareholders, employees and other stakeholders.”