NextEra announces executive leadership changes

NextEra Energy Inc . (NYSE:NEE), a leading company in the electric services industry with a market capitalization of $151 billion, has announced significant changes in its executive leadership team as part of a planned succession process. According to InvestingPro data, the company maintains strong financial metrics with a 60% gross profit margin and has demonstrated consistent profitability over the last twelve months. The information, based on a recent SEC filing, reveals a series of departures and appointments set to take effect on May 22, 2025.

Rebecca Kujawa, the current President and CEO of NextEra Energy Resources, LLC (NEER), a subsidiary of NextEra Energy, has decided to retire from her roles. Brian W. Bolster, the Executive Vice President, Finance and Chief Financial Officer of both NEE and Florida Power & Light Company (FPL), will leave his current positions to succeed Kujawa as President and CEO of NEER.

In a cascade of internal promotions, James M. May, Vice President, Controller, and Chief Accounting Officer of NEE, will step into the roles of Treasurer of NEE and FPL, as well as Assistant Secretary of NEE. Michael H. Dunne, who has been serving as Treasurer of NEE and FPL and Assistant Secretary of NEE, will take over Bolster’s vacated roles as Executive Vice President, Finance, and Chief Financial Officer of NEE and FPL.

William J. Gough, Vice President of Financial Planning and Analysis at NEE, has been appointed to succeed May as Vice President, Controller, and Chief Accounting Officer of NEE. The Compensation Committee of NEE’s Board of Directors approved increases in compensation for Dunne and Gough, effective Monday, with Dunne’s annual base salary set at $850,000 and Gough’s at $385,000. Their respective annual incentive plan targets are 70% and 45% of their base salaries.

The equity compensation awards for 2025 for Dunne and Gough are set at $2,555,000 and $341,700, respectively, with a mix of performance share awards, non-qualified stock options, and restricted stock, all issued pursuant to the NEE 2021 Long Term Incentive Plan, with a portion for Dunne in the form of XPLR Infrastructure, LP restricted common units.

Additionally, Dunne will partake in the NEE Executive Severance Benefit Plan, receive an executive retention employment agreement, and gain enhanced credits for calculating his defined benefit under NEE’s Supplemental Executive Retirement Plan. Gough is approved to participate in NEE’s Supplemental Executive Retirement Plan.

These executive changes are detailed in NextEra Energy’s proxy statement filed with the Securities and Exchange Commission on April 1, 2024, and are part of the company’s ongoing efforts to ensure strong leadership and strategic continuity. With a current dividend yield of 3.08% and a remarkable dividend growth rate of 21.18% over the last twelve months, NextEra Energy continues to demonstrate strong shareholder returns. For deeper insights into NEE’s financial health and extensive analysis, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro, which covers over 1,400 top US stocks with actionable intelligence for smarter investing decisions.

In other recent news, NextEra Energy has reported significant financial and strategic developments. The company, along with its subsidiary Florida Power & Light, announced the successful sale of $2 billion in First Mortgage Bonds. This issuance, split across three series with varying maturities, includes $350 million due in 2034, $950 million due in 2055, and $700 million due in 2065. Additionally, NextEra Energy and Florida Power & Light have filed with the Florida Public Service Commission for approval of a new four-year base rate plan starting in January 2026. The proposal includes revenue requirement increases of approximately $1.545 billion in 2026 and $927 million in 2027, with mechanisms to recover costs for solar and battery storage projects.

In leadership news, NextEra Energy announced that Rebecca Kujawa, President and CEO of NextEra Energy Resources, will retire in May 2025, with Brian Bolster succeeding her. Mike Dunne will take over Bolster’s previous role as CFO. These transitions are part of a structured succession plan. The company has also outlined executive compensation adjustments, with salary increases and new incentive plans for incoming executives. These developments reflect NextEra Energy’s ongoing strategic and financial planning efforts.

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