NextEra Energy Partners announces organizational changes

Rhea-AI Summary

NextEra Energy Partners, LP (NYSE: NEP) announced Brian Bolster as the new chief financial officer, succeeding Kirk Crews, who takes up a senior leadership role at NextEra Energy. Bolster, with a strong financial background from Goldman Sachs, is expected to positively impact the business. The move is effective immediately, showcasing the company's focus on growth and leadership development.

Positive

• Brian Bolster's appointment as CFO brings strong financial capabilities and deep sector understanding from his extensive career at Goldman Sachs, which can be beneficial for NextEra Energy Partners.

• The appointment of Bolster as a board director and CFO shows the company's commitment to leadership development and growth opportunities within the organization.

• The leadership succession process highlights the smooth transition of roles within the company, ensuring continuity and stability in operations.

Negative

• None.

JUNO BEACH, Fla., May 6, 2024 /PRNewswire/ -- Earlier today, NextEra Energy, Inc. (NYSE: NEE) announced that Kirk Crews has been appointed to a new senior leadership role at NextEra Energy. Following that announcement, NextEra Energy Partners, LP (NYSE: NEP) today is announcing that Brian Bolster is appointed chief financial officer (CFO), NextEra Energy Partners, succeeding Mr. Crews. Mr. Bolster is also appointed a board director of NextEra Energy Partners and succeeds Mr. Crews in this position. Both appointments are effective immediately.

Mr. Bolster will report directly to John Ketchum, chairman and chief executive officer, NextEra Energy Partners, LP.

"Kirk has successfully served as NextEra Energy Partners' CFO for the past two years and is now taking up an important senior executive role that leverages his deep financial acumen and experience," said Mr. Ketchum. "As Kirk hands over his CFO responsibilities, I would like to welcome Brian to NextEra Energy Partners. Over a long career at Goldman Sachs, Brian has accumulated strong financial capabilities and a robust understanding of the power and renewables sectors. I am confident that he will make a positive impact on the NextEra Energy Partners business."

Mr. Bolster joins NextEra Energy from Goldman Sachs following a nearly 25-year career at the firm. He was head of natural resources in the Americas with responsibility for the administration of investment banking across power, infrastructure, chemicals, energy, metals and mining. He joined the energy and power group at Goldman Sachs as an associate in 1999, was named managing director in 2007 and became a partner in 2012.

Over his nearly two-and-a-half-decade career at Goldman Sachs, Mr. Bolster played an integral role in growing the firm's natural resources business. He worked with teams across the firm to meet the unique needs of Goldman Sachs' power, utilities and infrastructure clients, providing seamless cross border capabilities and connecting resources and products around the world.

Mr. Bolster holds a Bachelor of Arts in government and an MBA and a Juris Doctor from Georgetown University.

The leadership succession process that was announced by NextEra Energy earlier today can be found in a news release posted on the NextEra Energy newsroom.

NextEra Energy Partners, LP
NextEra Energy Partners, LP (NYSE: NEP) is a growth-oriented limited partnership formed by NextEra Energy, Inc. (NYSE: NEE). NextEra Energy Partners' strategy emphasizes acquiring, managing and owning contracted clean energy assets with stable, long-term cash flows with a focus on renewable energy projects. Headquartered in Juno Beach, Florida, NextEra Energy Partners owns, or has a partial ownership interest in, a portfolio of contracted renewable energy assets consisting of wind, solar and solar-plus-storage projects and a stand-alone battery storage project in the U.S., as well as contracted natural gas pipeline assets in Pennsylvania. For more information about NextEra Energy Partners, please visit: www.NextEraEnergyPartners.com.

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SOURCE NextEra Energy Partners, LP

FAQ

Who is the new chief financial officer at NextEra Energy Partners?

Brian Bolster is the new chief financial officer at NextEra Energy Partners, succeeding Kirk Crews.

What is the stock symbol for NextEra Energy Partners?

The stock symbol for NextEra Energy Partners is NEP.

Where is NextEra Energy Partners headquartered?

NextEra Energy Partners is headquartered in Juno Beach, Florida.

What is NextEra Energy Partners' strategy?

NextEra Energy Partners' strategy emphasizes acquiring, managing, and owning contracted clean energy assets with stable, long-term cash flows, focusing on renewable energy projects.