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NRG Appoints Lawrence Coben as President and Chief Executive Officer

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NRG Energy, Inc. (NYSE: NRG) has appointed Lawrence Coben, Ph.D., as President and Chief Executive Officer. Dr. Coben, who has been serving as Interim CEO since November 20, 2023, will continue as Chair of the Board in his new role. The appointment follows a thorough search process and is based on Dr. Coben's success in refining strategy and driving execution across the company, resulting in outstanding results and significant shareholder returns.

NRG's Board expressed confidence in Dr. Coben's leadership, citing his deep understanding of the industry and NRG's differentiation at the intersection of energy and smart home technology. Dr. Coben highlighted NRG's strong position in the growing energy industry, advancement of key brownfield development projects in Texas, and provision of residential energy and smart technologies to over eight million customers.

NRG Energy, Inc. (NYSE: NRG) ha nominato Lawrence Coben, Ph.D., Presidente e Amministratore Delegato. Il Dr. Coben, che ha ricoperto il ruolo di CEO ad interim dal 20 novembre 2023, continuerà a svolgere anche il ruolo di Presidente del Consiglio in questa nuova posizione. La nomina segue un accurato processo di ricerca ed è basata sul successo del Dr. Coben nel perfezionare la strategia e nell'implementazione all'interno dell'azienda, portando a risultati eccezionali e significativi ritorni per gli azionisti.

Il Consiglio di Amministrazione di NRG ha espresso fiducia nella leadership del Dr. Coben, sottolineando la sua profonda comprensione del settore e la differenziazione di NRG all'incrocio tra energia e tecnologia per la casa intelligente. Il Dr. Coben ha evidenziato la forte posizione di NRG nell'industria energetica in crescita, l'avanzamento di importanti progetti di sviluppo brownfield in Texas e la fornitura di energia residenziale e tecnologie intelligenti a oltre otto milioni di clienti.

NRG Energy, Inc. (NYSE: NRG) ha nombrado a Lawrence Coben, Ph.D., como Presidente y Director Ejecutivo. El Dr. Coben, que ha estado desempeñando el cargo de CEO interino desde el 20 de noviembre de 2023, continuará también como Presidente del Consejo en su nuevo rol. La designación sigue a un exhaustivo proceso de búsqueda y se basa en el éxito del Dr. Coben en la refinación de la estrategia y en la ejecución a lo largo de la empresa, lo que ha resultado en resultados sobresalientes y significativos retornos para los accionistas.

El Consejo de NRG expresó confianza en el liderazgo del Dr. Coben, citando su profunda comprensión de la industria y la diferenciación de NRG en la intersección de la energía y la tecnología inteligente para el hogar. El Dr. Coben destacó la sólida posición de NRG en la creciente industria de la energía, el avance de importantes proyectos de desarrollo brownfield en Texas y la provisión de energía residencial y tecnologías inteligentes a más de ocho millones de clientes.

NRG 에너지, Inc. (NYSE: NRG)는 Lawrence Coben, Ph.D.를 사장 겸 최고 경영자(CEO)로 임명했습니다. Coben 박사는 2023년 11월 20일부터 임시 CEO로 재직해 왔으며, 이번 새로운 역할에서도 이사회 의장직을 계속 맡게 됩니다. 이 임명은 철저한 검색 과정을 거쳐 이루어졌으며, Coben 박사가 전략을 정교화하고 회사 전반에 걸쳐 실행을 추진하는 데 있어 성공을 거두며 뛰어난 성과와 상당한 주주 수익을 안겨준 데 기반하고 있습니다.

NRG의 이사회는 업계에 대한 Coben 박사의 깊은 이해와 NRG가 에너지와 스마트 홈 기술의 교차점에서 차별화된 점을 들어 그의 리더십에 대한 신뢰를 표명했습니다. Coben 박사는 성장하는 에너지 산업에서 NRG의 강력한 입지, 텍사스에서 주요 브라운필드 개발 프로젝트의 진전, 그리고 8백만 이상의 고객에게 주거용 에너지 및 스마트 기술을 제공하는 것을 강조했습니다.

NRG Energy, Inc. (NYSE: NRG) a nommé Lawrence Coben, Ph.D., en tant que Président et Directeur Général. Le Dr. Coben, qui occupe le poste de CEO intérimaire depuis le 20 novembre 2023, continuera également en tant que Président du Conseil dans son nouveau rôle. Cette nomination fait suite à un processus de recherche approfondi et repose sur le succès du Dr. Coben dans le raffinement de la stratégie et l'exécution à travers l'entreprise, ce qui a entraîné des résultats exceptionnels et des rendements significatifs pour les actionnaires.

Le Conseil d'administration de NRG a exprimé sa confiance dans le leadership du Dr. Coben, citant sa compréhension approfondie de l'industrie et la différenciation d'NRG à l'intersection de l'énergie et des technologies de maison intelligente. Le Dr. Coben a mis en avant la position forte d'NRG dans l'industrie énergétique en pleine croissance, l'avancement de projets de développement brownfield clés au Texas, et la fourniture d'énergie résidentielle et de technologies intelligentes à plus de huit millions de clients.

NRG Energy, Inc. (NYSE: NRG) hat Lawrence Coben, Ph.D., zum Präsidenten und CEO ernannt. Dr. Coben, der seit dem 20. November 2023 als Interim-CEO tätig war, wird in seiner neuen Funktion weiterhin als Vorsitzender des Vorstands fungieren. Die Ernennung folgt auf einen gründlichen Suchprozess und basiert auf Dr. Cobens Erfolg bei der Verfeinerung der Strategie und der Umsetzung im gesamten Unternehmen, was zu herausragenden Ergebnissen und signifikanten Renditen für die Aktionäre geführt hat.

Der Vorstand von NRG äußerte Vertrauen in Dr. Cobens Führung, und betonte sein tiefes Verständnis der Branche sowie NRGs Differenzierung an der Schnittstelle von Energie und Smart Home Technologie. Dr. Coben hob NRGs starke Position in der wachsenden Energiebranche, den Fortschritt wichtiger Brownfield-Entwicklungsprojekte in Texas und die Bereitstellung von Wohnenergie sowie intelligenten Technologien für über acht Millionen Kunden hervor.

Positive
  • Appointment of a proven energy industry executive with deep knowledge of NRG
  • Strong financial and operating performance under Dr. Coben's interim leadership
  • Company's business and financial outlook described as 'never been stronger'
  • Strengthening position at the intersection of energy and technology
  • Advancement of key brownfield development projects in Texas
  • Large customer base of over eight million for residential energy and smart technologies
Negative
  • None.

Appointment Taps Expertise of Proven Energy Industry Executive with Deep Knowledge of NRG to Propel Continued Business Momentum Across Integrated Energy/Smart Home Operating Platform

HOUSTON--(BUSINESS WIRE)-- NRG Energy, Inc. (NYSE: NRG) (“NRG” or the “Company”) today announced the appointment of Lawrence Coben, Ph.D., as President and Chief Executive Officer. Dr. Coben has been serving as Interim Chief Executive Officer since November 20, 2023. He was appointed Chair of the NRG Board of Directors in 2017 and will continue as Chair of the Board as part of his new role.

“NRG’s outstanding results and significant shareholder returns since Larry’s appointment as Interim CEO underscore his success in refining the strategy and driving execution across the Company. Following a thorough search process, it is clear that Larry’s continued leadership as President and CEO will best position us to build on our momentum and create significant, sustainable shareholder value,” said Lisa Donohue, Chair of the NRG Board’s CEO Search Committee. “Larry has engaged closely with teams across the business, and they have rallied behind him to deliver strong financial and operating performance. Given Larry’s deep understanding of our industry and NRG’s differentiation at the intersection of energy and smart home technology, we are confident that under Larry’s stewardship, NRG will fully capitalize on the expected demand growth and evolving needs of our customers.”

“I am excited about the future of NRG and honored to lead our talented team going forward as Chair, President and CEO,” said Dr. Coben. “In addition to the tremendous growth our industry is experiencing, we are strengthening our position at the intersection of energy and technology, advancing key brownfield development projects in Texas and providing residential energy and smart technologies at scale to our over eight million customers. With a deeply talented team, a business and financial outlook that has never been stronger, and the right capital allocation framework in place, I am confident in NRG’s ability to capture the substantial upside value creation available to our company.”

As previously announced, NRG is hosting a conference call and webcast on Thursday, August 8, 2024 at 9:00 a.m. EDT (8:00 a.m. CDT) and will discuss its second quarter 2024 financial results at that time.

The company will issue a press release regarding the second quarter 2024 financial results prior to the conference call, and it will be available on the NRG website at www.nrg.com.

The live webcast and presentation materials can be accessed at investors.nrg.com by clicking the “presentations and webcasts” link. A replay of the webcast will be available on the site for those unable to listen in real-time.

About Lawrence S. Coben, Ph.D.

Dr. Coben has served as Chair of the NRG Board of Directors since 2017 and has been a member of the Board since 2003.

From 2003 to 2017, he was Chairman and Chief Executive Officer of various affiliates of Tremisis Energy. Dr. Coben also served on the Board of Directors of SAESA, a Chilean utility, from 2008 to 2010, the Board of Prisma Energy from 2003 to 2006, and the advisory board of Morgan Stanley Infrastructure II, L.P. from 2014 to 2016.

Dr. Coben is also Founder and Board Chair of the ESCALA Initiative, a leading NGO that provides a Business School and Capacity Training Program to marginalized women entrepreneurs around the world.

Dr. Coben received a Bachelor of Arts in economics from Yale University, a Juris Doctor from Harvard Law School, and a Master of Arts and Ph.D. in anthropology with a focus in archaeology from the University of Pennsylvania.

About NRG

NRG Energy, Inc. is a leading energy and home services company powered by people and our passion for a smarter, cleaner, and more connected future. A Fortune 500 company operating in the United States and Canada, NRG delivers innovative solutions that help people, organizations, and businesses achieve their goals while also advocating for competitive energy markets and customer choice. More information is available at www.nrg.com. Connect with NRG on Facebook, Instagram, LinkedIn and X.

Safe Harbor

This communication contains forward-looking statements that may state NRG’s or its management’s intentions, beliefs, expectations or predictions for the future. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, and typically can be identified by the use of words such as “will,” “expect,” “estimate,” “anticipate,” “forecast,” “plan,” “believe” and similar terms. Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated above include, among others, risks and uncertainties related to the capital markets generally.

Investors

Brendan Mulhern

609.524.4767

investor.relations@nrg.com

Media

Chevalier Gray

832.763.3454

chevalier.Gray@nrg.com

Source: NRG Energy, Inc.

FAQ

Who is the new President and CEO of NRG Energy (NYSE: NRG)?

Lawrence Coben, Ph.D., has been appointed as the new President and Chief Executive Officer of NRG Energy, Inc. (NYSE: NRG).

When did Lawrence Coben become Interim CEO of NRG Energy (NYSE: NRG)?

Lawrence Coben began serving as Interim CEO of NRG Energy (NYSE: NRG) on November 20, 2023.

What positions will Lawrence Coben hold at NRG Energy (NYSE: NRG)?

Lawrence Coben will hold the positions of Chair of the Board, President, and Chief Executive Officer at NRG Energy (NYSE: NRG).

How many customers does NRG Energy (NYSE: NRG) serve with residential energy and smart technologies?

NRG Energy (NYSE: NRG) provides residential energy and smart technologies to over eight million customers.

When will NRG Energy (NYSE: NRG) discuss its second quarter 2024 financial results?

NRG Energy (NYSE: NRG) will discuss its second quarter 2024 financial results during a conference call and webcast on Thursday, August 8, 2024, at 9:00 a.m. EDT (8:00 a.m. CDT).

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