Elliott Supports Ongoing Board Enhancement at NiSource

Rhea-AI Summary

Elliott Investment Management announced its support for recent leadership changes at NiSource (NYSE: NI), including the appointment of Bill Johnson to the Board. Johnson, with extensive experience at major utilities, is expected to contribute to transformational strategies. The new CEO's plan for a comprehensive business review aims to enhance shareholder value. Elliott, a significant investor managing approximately $51.5 billion, anticipates positive outcomes from these developments and looks forward to ongoing collaboration with NiSource.

Positive

• Appointment of Bill Johnson to the Board brings significant utility experience.
• Expectations for a comprehensive business review to enhance shareholder value.
• Elliott's continued support indicates confidence in future growth.

Negative

• None.

WEST PALM BEACH, Fla., March 16, 2022 /PRNewswire/ -- Elliott Investment Management L.P. ("Elliott") today released the following statement regarding NiSource (NYSE: NI): 

Building on the leadership and Board changes announced recently, we welcome NiSource's appointment of Bill Johnson to the Company's Board. As a former CEO and utility president of Progress Energy, Tennessee Valley Authority and PG&E, Mr. Johnson brings extensive utility oversight experience, demonstrated industry leadership and an ability to evaluate and complete transformational transactions. In conjunction with the Company's appointment of a new CEO and two new directors, and the new CEO's announced plans to conduct a full review of the business, NiSource should be well positioned to take actions that will create meaningful shareholder value.

As one of NiSource's largest investors, we look forward to our continued dialogue and engagement with the Company. We expect that the results of the review will achieve the shareholder value creation that we and our fellow NiSource investors have long anticipated.

About Elliott

Elliott Investment Management L.P. manages approximately $51.5 billion of assets. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds under continuous management. The Elliott funds' investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm.

Media Contact:         

Stephen Spruiell                                                         
Elliott Investment Management L.P.                                     
(212) 478-2017                                              
sspruiell@elliottmgmt.com

 

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SOURCE Elliott Investment Management L.P.

FAQ

What recent changes have been announced at NiSource (NYSE: NI)?

Elliott Investment Management supports the appointment of Bill Johnson to the Board and the new CEO's plans for a comprehensive business review.

Who is Bill Johnson and what is his relevance to NiSource?

Bill Johnson is a former CEO and utility president with extensive experience, contributing to the strategic direction of NiSource.

What is Elliott Investment Management's stake in NiSource (NYSE: NI)?

Elliott is one of NiSource's largest investors, managing approximately $51.5 billion in assets.

What are the expected outcomes from NiSource's business review?

The review aims to create meaningful shareholder value based on the company's strategic adjustments.

How might NiSource (NYSE: NI) benefit from Bill Johnson's appointment?

Johnson's experience in utility management is expected to lead to effective transformational strategies that benefit the company.