HOUSTON, June 30, 2020 /PRNewswire/ -- CenterPoint Energy,
Inc. (NYSE: CNP) today announced that its Board of Directors has
appointed David J. Lesar as
President and Chief Executive Officer, effective July 1, 2020. He succeeds John W. Somerhalder II, who has served as
interim president and chief executive officer of CenterPoint Energy
since February 2020 and a director
since 2016.
Milton Carroll, Executive
Chairman, said, "The Board determined in February that it was the
right time for CenterPoint Energy to name an experienced executive
leader with a fresh strategic perspective, proven achievement in
shareholder and stakeholder value creation and a track record of
delivering results to lead the company through its next phase of
growth. After a thorough search process that included
external candidates, we are delighted to have found that leader in
Dave Lesar and welcome him as our
next president and CEO.
"Over the past three decades, Dave has built an enviable track
record of vision, strategy implementation, execution capability,
financial sophistication and operational experience. During his 17
years leading Halliburton, he was the architect of how that company
ultimately led the industry in growth, margins and returns. He will
work with the Board and the entire CenterPoint Energy team to
evaluate, refine and advance our strategy, and then position us to
execute on our robust capital plans and seize attractive growth
opportunities. He will help us ensure that CenterPoint Energy
achieves our potential and promise, building on the company's
impressive service territories and strong regulatory position," Mr.
Carroll concluded.
Mr. Lesar said, "We are committed to unlocking the power and
potential within this company and its premium regulated utilities
and to maintaining our earnings growth rate. We have a
dedicated team with the right skills to position us to create
attractive value, building on a base of strong utility
assets. Our utility-focused strategy, combined with our newly
strengthened financial position, enables us to focus on how best to
optimize and drive return on our assets. We need to ensure
that the financial community, our employees and other key
stakeholders can clearly see and understand our strategy.
With respect to current – and potential – investors, my number one
near-term goal is to achieve greater shareholder confidence by
setting, communicating and working tirelessly to achieve our
financial and business goals. Throughout my career, I have worked
to maximize sustainable shareholder value and build strong
relationships with the constituencies that are central to the
success and sustainability of the companies I have led. I am
honored by the trust the Board has placed in me, and excited to
immediately start in this new role, working alongside our dedicated
and talented team members who make a tremendous difference for
customers every day.
"CenterPoint Energy is a backbone, supporting economic vitality
in the state of Texas and the
other states it serves. We will continue to strive to meet
the energy delivery needs of our customers and communities safely
and reliably. We will also build on our proven ability to innovate
and utilize the vast creativity of our people to drive value for
all of the stakeholders who rely, trust and invest in us,"
continued Mr. Lesar.
Mr. Lesar stated, "I am dedicated to accelerating the company's
environmental commitments and leadership in emissions reduction,
infrastructure modernization and delivering sustainable and cleaner
energy. CenterPoint Energy is also steadfast about building
on our long history of investing in the communities in which we
operate. I am devoted to having our employees—
including our leadership—and our suppliers reflect those diverse
communities, and inclusion is an important part of my vision for
how CenterPoint Energy will lead."
Mr. Carroll added, "On behalf of the Board of Directors and
CenterPoint Energy's employees, I would also like to thank John for
serving as interim CEO during a time of significant change and
transition for our company and the country and for his prior
service as a director. We have all valued and benefited from
John's substantial contributions, leadership and support and wish
him well."
CenterPoint Energy also announced that Earl M. Cummings has been appointed to serve as
a new independent member of the company's Board of Directors.
He fills the vacancy created by Mr. Somerhalder's departure from
the Board as of June 30, 2020.
With Mr. Cummings' appointment, the Board comprises directors with
independence, relevant skills, expertise and a valuable diversity
reflective of the company and customers, constituencies and
communities served.
Mr. Carroll said, "We are delighted to have Earl join the Board
as a new outside director. His experience, leadership and
commitment to creating value for all our stakeholders will further
strengthen our Board's oversight and contributions to CenterPoint
Energy."
New director Earl Cummings added,
"I am pleased to be joining the distinguished board of such an
important and outstanding company. I look forward to working
with CenterPoint Energy, our new CEO and my fellow directors to
capitalize on the opportunities ahead and uphold our commitments to
service, safety, inclusion and performance."
Mr. Lesar, who recently joined the CenterPoint Energy Board, has
chaired the Board's Business Review and Evaluation Committee since
its formation in early May 2020. CenterPoint Energy intends
to host an investor day by early 2021 to update stakeholders on the
company's vision and plans.
About David J.
Lesar
Dave Lesar joined CenterPoint Energy
as a director in May 2020. He served as interim CEO of Health
Care Service Corporation, the largest privately-held health insurer
in the U.S., from July 2019 through
June 1, 2020, having joined the
company's board of directors in 2018. He was the Chairman of
the Board and CEO of Halliburton Company from 2000 to 2017 and
Executive Chairman of the Board from June
2017 until December 2018. Mr. Lesar joined Halliburton
in 1993 and served in a variety of other roles, including executive
vice president of Finance and Administration for Halliburton Energy
Services, a Halliburton business unit, CFO of Halliburton from 1995
through May 1997, President and Chief
Operating Officer from May 1997
through August 2000. He has also
served on the board of directors of several companies, most
recently Agrium, Inc. as well as Lyondell Chemical Co., Southern
Co., Cordant Technologies, and Mirant. A Certified Public
Accountant, Mr. Lesar was previously a partner at Arthur Andersen.
He received both his B.S. and MBA from the University of Wisconsin.
About Earl
Cummings
Since 2012, Mr. Cummings has served as
Managing Partner of MCM Houston Properties, LLC, a real estate fund
that invests in single family residential properties in
Houston, Texas. In his role
as Managing Partner, he is responsible for overall capital raising,
investment, acquisition, and business strategies of the fund and
its assets. Mr. Cummings also serves as Chief Executive Officer of
The BTS Team, which began as an information technology and staffing
firm providing solutions and services across various regions and
evolved into a company that also invested financial resources in
various industries to create value for shareholders and other
stakeholders, and he previously served as its Chief Information
Officer and Chairman of its board. He also served as Chief
Executive Officer of BestAssets, Inc., a private company providing
real estate portfolio management and related services. Active
across communities and in non-profit board service, Mr. Cummings
has served on the boards of the University of
Houston Board of Visitors, C-STEM Robotics (where he was
founding Chairman of the Executive Board for C-STEM), Yellowstone
Academy and has also served on the advisory boards for KIPP Academy
and Texas Southern University School of
Business. Mr. Cummings holds a BBA of Management Information
Systems from the University of Houston
and an MBA from Pepperdine
University.
About CenterPoint Energy, Inc.
As the only investor
owned electric and gas utility based in
Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy
delivery company with electric transmission & distribution,
power generation and natural gas distribution operations that serve
more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. As of March 31,
2020, the company owns approximately $33 billion in assets and 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
9,600 employees, CenterPoint Energy 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.
When used in this news release, the words "anticipate," "believe,"
"continue," "could," "estimate," "expect," "forecast," "goal,"
"intend," "may," "objective," "plan," "potential," "predict,"
"projection," "should," "target," "will," "can" or other similar
words are intended to identify forward-looking statements. 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 the company's prospects or potential or the
intentions of management or the board, capital investment plans,
future financial and business goals, earnings growth
rates or financial condition, growth or business opportunities,
stakeholder (including shareholder) value creation, environmental
and sustainability commitments including emissions reductions,
social goals including relating to diversity, activities of the
board's business review and evaluation committee, future investor
days hosted by the Company, inclusion, strategic initiatives,
future financial performance and results of operations, , 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. Important
factors that could cause actual results to differ materially from
those indicated by the provided forward-looking information include
risks and uncertainties relating to: (1) the impact of COVID-19;
(2) financial market conditions; (3) general economic conditions;
(4) the timing and impact of future regulatory and legislative
decisions; (5) effects of competition; (6) weather variations; (7)
changes in business plans; and (8) other factors discussed in
CenterPoint Energy's Annual Report on Form 10-K for the fiscal year
ended December 31, 2019, CenterPoint
Energy's Quarterly Report on Form 10-Q for the quarter ended
March 31, 2020 and other reports
CenterPoint Energy or its subsidiaries may file from time to time
with the Securities and Exchange Commission.
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.