Mauricio Gutierrez Becomes NRG Yield Chairman of the Board, and John
Chillemi Appointed to Board of Directors
PRINCETON, N.J.--(BUSINESS WIRE)--May 5, 2016--
NRG Yield, Inc. (NYSE: NYLD, NYLD.A) today announced the appointment of
Christopher Sotos as President and Chief Executive Officer, effective
May 6, 2016. Interim President and Chief Executive Officer Mauricio
Gutierrez will transition the role to Mr. Sotos through the second
quarter 2016. Mr. Sotos will be employed and compensated solely by NRG
Yield.
“With Chris’ extensive expertise in the financial and energy markets,
there is no better candidate to lead NRG Yield,” said Mauricio
Gutierrez, NRG Yield’s Interim President and Chief Executive Officer.
“The Board of Directors is confident in Chris’ ability to seamlessly
transition into this role and strategically evaluate opportunities
across the landscape. We look forward to his immediate contribution to
the company.”
Mr. Sotos has been on the Board of Directors of NRG Yield since its
initial public offering in July 2013. Prior to his appointment as
President and CEO of NRG Yield, Mr. Sotos served as Head of Strategy and
Mergers & Acquisitions at NRG Energy, Inc. (NRG). In this role, he led
NRG’s corporate strategy, mergers and acquisitions, strategic alliances
and other special projects for NRG and NRG Yield. He also served as
NRG’s Treasurer from March 2008 to September 2012, where he was
responsible for all treasury functions, including raising capital,
valuation, debt administration and cash management. Mr. Sotos joined NRG
in 2004 as a Senior Finance Analyst, following more than nine years in
key financial roles within the energy sector at companies including Koch
Capital Markets, Entergy Wholesale Operations and Service Corporation
International. Mr. Sotos also serves on the board of FuelCell
Energy, Inc.
”Having been part of NRG Yield since its inception, I am honored to
accept the role of CEO and will continue to evaluate management
structure for NRG Yield going forward,” said Christopher Sotos. “In
addition, with the offer from NRG of its remaining CVSR ownership stake
and its continued dropdown of distributed and residential solar assets,
I am focused on continuing NRG Yield’s history of dividend growth going
forward.”
In connection with Mr. Sotos’ appointment as President and CEO, Mr.
Gutierrez will assume the role of Chairman of the Board of NRG Yield,
and John Chlebowski will return to his role as the Lead Independent
Director. Further, NRG Yield Board of Directors appointed John Chillemi,
Executive Vice President, National Business Development for NRG to the
Board of Directors to fill the existing vacancy on the Board.
Mr. Chillemi has served as Executive Vice President, National Business
Development of NRG since December 2015. In this role, Mr. Chillemi is
responsible for all wholesale generation development activities for NRG
across the nation. Prior to December 2015, Mr. Chillemi was Senior Vice
President and Regional President, West since NRG’s acquisition of GenOn
Energy, Inc. (GenOn) in December 2012. Mr. Chillemi served as the
Regional President in California and the West for GenOn from December
2010 to December 2012, and as President and Vice President of the West
at Mirant Corporation from 2007 to December 2010. Mr. Chillemi has
30 years of power industry experience, beginning with Georgia Power in
1986.
About NRG Yield
NRG Yield owns a diversified portfolio of contracted renewable and
conventional generation and thermal infrastructure assets in the United
States, including fossil fuel, solar and wind power generation
facilities that provide the capacity to support more than two million
American homes and businesses. Our thermal infrastructure assets provide
steam, hot water and/or chilled water, and in some instances
electricity, to commercial businesses, universities, hospitals and
governmental units in multiple locations. NRG Yield’s Class C and Class
A common stock are traded on the New York Stock Exchange under the
symbols NYLD and NYLD.A, respectively. Visit nrgyield.com for more
information.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934. These forward-looking statements
may state NRG Yield’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.
Although NRG Yield 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 associated with NRG
Yield’s business, economic and competitive factors, the capital markets
and other risks detailed in NRG Yield’s filings with the Securities and
Exchange Commission. NRG Yield assumes no obligation to update any
forward-looking information contained in this press release or with
respect to the announcements described herein.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160505005724/en/
Source: NRG Yield, Inc.
For NRG Yield
Media:
Karen Cleeve, 609-524-4608
or
Marijke
Shugrue, 609-524-5262
or
Investors:
Kevin Cole,
CFA, 609-524-4526
or
Lindsey Puchyr, 609-524-4527
