HOUSTON, Feb. 19, 2020 /PRNewswire/ -- CenterPoint Energy,
Inc. (NYSE: CNP) today announced that its board of directors has
appointed John W. Somerhalder II as
interim President and Chief Executive Officer to succeed
Scott M. Prochazka, who has stepped
down as President and Chief Executive Officer, and as a member of
the board of directors.
Mr. Somerhalder is a 40-year energy industry veteran, including
as Chief Executive and a Director of AGL Resources Inc., a natural
gas utility. He has served as a Director of CenterPoint Energy,
Inc. since 2016 and also serves as Director and Trustee on the
boards of numerous non-profit organizations. The company has
commenced a process to identify a permanent CEO and has formed a
sub-committee of the board to support the selection process. These
changes are effective immediately.
Milton Carroll, Executive
Chairman, said, "On behalf of the board of directors and
CenterPoint Energy's employees, I would like to thank Scott for his
meaningful contributions to the company during his distinguished
career. Scott led CenterPoint Energy through significant growth and
transformation and, under his leadership, we made progress in our
journey to achieve our vision to lead the nation in delivering
energy, service, and value."
Mr. Carroll added, "The board has determined that now is the
right time for a new leader with a fresh strategic perspective to
lead the company though its next phase of growth and value
creation. We are fortunate to have found in John an outstanding
energy industry executive with vast utility experience and the
skills to ensure that we continue our momentum during the search
process."
Mr. Somerhalder said, "I am privileged to step in and lead this
company and its talented employees to ensure that we remain focused
on meeting our commitments. As interim President and CEO, I am
intent on delivering strong performance, continuous dividend
growth, and a strengthened balance sheet, while enhancing our
business risk profile, earnings quality, and earnings growth for
the benefit of our stakeholders."
Mr. Somerhalder added, "Our Chief Financial Officer Xia Liu and I look forward to discussing our
strong 2019 performance, as well as providing our 2020 EPS guidance
and utility EPS growth target during our upcoming earnings call on
February 27. I also look forward to
working alongside the leadership team in the exciting next phase of
the company's future."
About John W. Somerhalder
II
John W. Somerhalder II has been a
Director of CenterPoint Energy, Inc. since October 2016. Mr. Somerhalder is a private
investor. He most recently served as Interim President and Chief
Executive Officer of Colonial Pipeline Company, a privately held
company that operates a refined liquid petroleum products pipeline
system, from February 2017 to
October 2017. Prior to joining
Colonial Pipeline Company, Mr. Somerhalder served as President,
Chief Executive Officer and as a director of AGL Resources Inc., a
former publicly traded energy services holding company, which was
acquired by Southern Company, whose principal business is the
distribution of natural gas, from March
2006 through December 2015 and
as Chairman of the Board of AGL Resources Inc. from November 2007 through December 2015. Prior to joining AGL Resources
Inc., he served in a number of roles with El Paso Corporation, a
publicly traded natural gas and related energy products provider,
and its subsidiaries since 1977, including as Executive Vice
President, and as President of El Paso Pipeline Group. He has
served as a director of Crestwood Equity GP LLC, the general
partner of Crestwood Equity Partners LP, and he served as a
director of SunCoke Energy Partners, L.P. from 2017 to July 2019. He currently serves as director and
trustee on the boards of numerous non-profit organizations.
About CenterPoint Energy, Inc.
Headquartered in Houston,
Texas, CenterPoint Energy, Inc. is an energy delivery
company with regulated utility businesses in eight states and a
competitive energy businesses footprint in nearly 40 states.
Through its electric transmission & distribution, power
generation and natural gas distribution businesses, the company
serves more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma, and Texas. CenterPoint Energy's competitive energy
businesses include natural gas marketing and energy-related
services; energy efficiency, sustainability and infrastructure
modernization solutions; and construction and repair services for
pipeline systems, primarily natural gas. The company also owns 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
14,000 employees and approximately $35
billion in assets, CenterPoint Energy, Inc. and its
predecessor companies have been in business for more than 150
years. For more information, visit CenterPointEnergy.com.
This news release includes forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
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 earnings, and future financial performance
and results of operations, including, but not limited to earnings
guidance, targeted dividend growth rate 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.
For more information contact
Media:
Alicia Dixon
Phone 713.207.5885
Investors:
Dave Mordy
Phone 713.207.6500
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SOURCE CenterPoint Energy, Inc.