Investing
Activist investor Elliott to seek ouster of NRG CEO – WSJ
© Reuters. Mauricio Gutierrez, president and CEO of NRG Energy, speaks onstage during the CERAWeek energy conference in Houston, Texas, U.S., March 9, 2023. REUTERS/Callaghan O’Hare
(Reuters) – Activist investor Elliott Investment Management is increasing pressure on NRG Energy (NYSE:) and seeking to oust its CEO Mauricio Gutierrez, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
Elliott is in talks with potential candidates to replace the U.S. power company’s CEO as well as other top executives, the report said.
The report comes after Elliott sent a letter to NRG’s board last month, pushing for a boardroom overhaul. The activist investor has had urged the company to conduct a review of its home services strategy and add new independent directors.
Elliott and NRG did not immediately respond to Reuters’ requests for comment.
Elliott had disclosed a more than 13% economic interest in the utility company in May, which it said was worth around $1 billion, without specifying how much, if any, of that interest was in NRG stock.
Read the full article here
-
Side Hustles5 days ago
Mark Zuckerberg Is Now Second Richest Person in the World
-
Investing5 days ago
Nvidia CEO Jensen Huang: Demand For Blackwell AI Is Insane
-
Side Hustles6 days ago
How to Be Unapologetically You and Why It Matters
-
Side Hustles6 days ago
With AI Magicx, It’s Like Getting an Entire Creative Team in One Money-Saving AI Tool
-
Side Hustles5 days ago
Meta Previews Movie Gen, AI Tools That Turn Dreams to Videos
-
Investing3 days ago
Hurricane Helene Hits Spruce Pine Mine, Quartz Used for Tech
-
Passive Income6 days ago
How AI-Driven Personalization Is Transforming the Retail Industry
-
Investing5 days ago
BCA says investors should fade the real estate rally By Investing.com