CenterPoint Energy Announces Two Senior Finance Leadership Appointments

Rhea-AI Summary

CenterPoint Energy (NYSE: CNP) announced two key senior finance appointments aimed at strengthening its leadership team and advancing its long-term growth strategy. Stacey Peterson will serve as Senior Vice President, Financial Planning & Treasurer, effective January 11, overseeing financial risk and a five-year capital investment plan exceeding $16 billion. Philip Holder will be Senior Vice President, Strategic Planning & Investor Relations, effective January 25, focusing on corporate strategy and investor communications. These appointments signal the company's commitment to enhancing value for customers and shareholders.

Positive

• Appointment of Stacey Peterson to Senior Vice President, Financial Planning & Treasurer, effective January 11, strengthening financial leadership.
• Launch of a five-year capital investment plan exceeding $16 billion to drive growth and infrastructure improvements.
• Appointment of Philip Holder to Senior Vice President, Strategic Planning & Investor Relations, enhancing corporate strategy and investor engagement.

Negative

• Departure of key executives, Vice President & Treasurer Robert McRae and Director of Investor Relations David Mordy, may disrupt continuity.

HOUSTON, Jan. 8, 2021 /PRNewswire/ -- CenterPoint Energy, Inc. (NYSE: CNP) today announced two senior Finance leadership appointments that will further strengthen its management team and position the company for execution of its new long-term growth strategy.

"As we position ourselves to become a premium valued utility while supporting a transition to a cleaner energy future, central to our company's future growth will be a proven, experienced leadership team and energized, dedicated employees," said Executive Vice President and Chief Financial Officer Jason Wells. "These senior Finance leadership appointments will be critical to our commitment to maximize the advantages of our growth for our customers, shareholders and communities."

Stacey Peterson named Senior Vice President, Financial Planning & Treasurer

Stacey Peterson has been named Senior Vice President, Financial Planning & Treasurer, effective Jan. 11. Peterson will lead the company's financial planning and analysis, investing activities, balance sheet and capital markets strategy, cash management, bank relationships, benefit plan administration, and compliance reporting. She will be responsible for managing financial risk as it relates to CenterPoint Energy's annual interest expense, debt, the company's commercial paper program, and revolving credit facilities. Peterson will report to Wells.

"Stacey joins CenterPoint Energy's leadership team with a proven track record in the energy industry, finance and capital markets. She will be an ideal fit for our company as we execute on our new long-term growth strategy," said Wells. "Under Stacey's leadership, our Financial Planning and Treasury organizations will play a critical role in our five-year $16 billion-plus capital investment plan, which will drive organic growth opportunities in our utility businesses, as well as the reliability and resiliency of our existing infrastructure to better serve our customers."

Peterson said, "With its new long-term growth strategy recently launched, it is a unique and important time in the long, proud history of CenterPoint Energy. I am excited to join this exceptional team and, together, execute the strategy to position CenterPoint Energy for an outstanding future."

Peterson has held roles of increasing responsibility over her 20-year career. Most recently, she served as Senior Vice President, Finance, Treasurer and Head of Investor Relations at Talen Energy, one of the largest privately owned independent power generation infrastructure companies in North America. Prior to this role, Peterson spent 11 years at Calpine, a power generator with more than 26,000 megawatts of generating capacity in 16 states and Canada, wholesale power operations and retail electricity businesses. Following leadership roles in Structuring, Financial and Strategic Analysis, and Power Trading, Peterson served as Vice President, Finance and Treasurer from 2013 to 2018.

Peterson earned a Bachelor of Science degree in Business and Finance from Indiana University's Kelley School of Business. She is a graduate of Harvard Business School's Advanced Management Program.

Philip Holder named Senior Vice President, Strategic Planning & Investor Relations

Philip Holder has been named Senior Vice President, Strategic Planning & Investor Relations, effective Jan. 25. Holder will lead CenterPoint Energy's corporate strategy, investment analyses, and business and corporate development activities in support of the company's long-term growth strategy. In addition, he will be responsible for the company's Investor Relations function and its relationships with shareholders, sell-side analysts and potential investors. Holder will report to Wells.

"Under Phil's leadership, our Strategic Planning and Investor Relations organizations will be instrumental as we grow our utility businesses and identify additional investment opportunities during and beyond the current five-year planning window," said Wells. "Phil's background, experience and relationships, particularly in the utility industry, will be valuable assets as we continue to strengthen the financial community's trust in CenterPoint Energy through execution and clear communications on our progress, including our efforts to further enhance our growth, positioning and value proposition."

Holder said, "I believe CenterPoint Energy has a clear and unmistakable path to becoming a premium valued utility, achieving top-tier operational excellence, and realizing outstanding organic growth opportunities. I look forward to being a part of this great company and working alongside a talented team to deliver on the strategy."

Holder has held roles of increasing responsibility over his 15-year career. Most recently, he served as Managing Director, Energy, Power & Renewables Investment Banking at Guggenheim Securities, the investment banking and capital markets business of Guggenheim Partners, a global investment and advisory firm. In this capacity, Holder led Guggenheim's relationship with the State of California, including advising Governor Gavin Newsom on the PG&E Bankruptcy and the creation of the California State Wildfire Fund. Prior to this role, Holder spent eight years at Citigroup where he served as Director, Power & Utilities Investment Banking. He led strategic and M&A advisory assignments for several utility and energy holding companies, including AES, Dominion Energy, Duke Energy, Energy Future Holdings, InfraREIT, Iberdrola, PG&E, Southern Company and Vistra Energy.

Holder earned a Bachelor of Business Administration degree from Emory University in Atlanta.

The company also announced the departures of Vice President & Treasurer Robert McRae and Director of Investor Relations David Mordy from CenterPoint Energy to pursue other career opportunities.

Wells said, "I want to take this opportunity to thank Robert and Dave for their many contributions to CenterPoint Energy and wish them every success in their future endeavors."

About CenterPoint Energy
As the only investor-owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. As of September 30, 2020, the company owned approximately $33 billion in assets and also owned 53.7 percent of the common units representing limited partner interests in Enable Midstream Partners, LP, a publicly traded master limited partnership that owns, operates and develops strategically located natural gas and crude oil infrastructure assets. With approximately 9,600 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

Forward Looking Statement
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words "continue," "plan," "will" or other similar words are intended to identify forward-looking statements. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release regarding future events, such as CenterPoint Energy's identification and execution of business strategies, opportunities and initiatives, value creation, capital investment plan, future financial performance and strength, and any other statements that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release speaks only as of the date of this release. Important factors that could cause actual results to differ materially from those indicated by the provided forward-looking information include risks and uncertainties relating to: (1) the impact of COVID-19; (2) financial market conditions; (3) general economic conditions; (4) the timing and impact of future regulatory and legislative decisions; (5) effects of competition; (6) weather variations; (7) changes in business plans; and (8) other factors, risks and uncertainties discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2019, CenterPoint Energy's Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020, June 30, 2020 and September 30, 2020 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.

For more information contact
Media:
Phone 713.619.5143
Investors:
Phone 713.207.6500

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SOURCE CenterPoint Energy, Inc.

FAQ

What recent leadership changes occurred at CenterPoint Energy (CNP)?

CenterPoint Energy announced the appointments of Stacey Peterson as Senior Vice President, Financial Planning & Treasurer, and Philip Holder as Senior Vice President, Strategic Planning & Investor Relations.

When will the new senior finance leaders at CenterPoint Energy (CNP) start their roles?

Stacey Peterson will start on January 11, and Philip Holder will start on January 25.

What is the significance of the new appointments at CenterPoint Energy (CNP)?

These appointments are aimed at strengthening the company's management team to execute its long-term growth strategy and enhance shareholder value.

What is the capital investment plan announced by CenterPoint Energy (CNP)?

CenterPoint Energy has launched a five-year capital investment plan exceeding $16 billion to drive growth and improve its infrastructure.