NextEra Energy announces CFO transition plan

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NextEra Energy announces CFO transition plan

NextEra Energy, Inc. last week announced that Moray P. Dewhurst, vice chairman and chief financial officer, has shared with the board of directors his intention to retire in the spring of 2016 as part of a planned leadership succession process.

Jim Robo, chairman and chief executive officer of NextEra Energy, said:

"Moray has been a key part of the senior leadership of NextEra Energy for well over a decade, helping us guide the company through a period of exceptional growth and success. For much of that time he has also been the principal spokesman for the company with the investment community and has achieved well-earned recognition as one of the best CFOs in the industry. He has been a great friend, colleague and valued counselor to me personally, and I know I speak for all NextEra employees when I say we will miss him. At the same time, I understand and respect his desire to move on to the next chapter in his life."

Commenting on his planned retirement, Dewhurst noted:

"It has been a privilege to have served this great company in a senior leadership role for so long, and I am grateful to the board and to Jim Robo and Lew Hay, two outstanding CEOs, for giving me this opportunity. While I have been thinking about next steps for some time, I would not be making this decision were I not convinced we have a solid transition plan in place and a great candidate to succeed me. I look forward to working closely with John Ketchum over the course of the next year to ensure that the finance leadership transition is seamless both internally and externally."

The company also announced two senior leadership promotions:

John Ketchum, currently senior vice president, business management and finance for NextEra Energy subsidiary, NextEra Energy Resources, LLC, has been named senior vice president, finance, NextEra Energy, with responsibility for accounting, forecasting, tax and investor relations. Ketchum, who is expected to succeed Dewhurst as chief financial officer as part of a planned year-long transition, will report to Dewhurst during the transition period.

Mark Hickson, currently vice president, operational excellence, strategic initiatives and corporate development, has been named senior vice president, corporate development and strategic initiatives and will continue to be responsible for corporate strategy, merger- and acquisition-related activity, business development, and quality and process improvement initiatives. Hickson, who also has been appointed to the board of directors of the general partner of NextEra Energy Partners, LP (NYSE: NEP), will continue to report to Robo.

Hickson joined the company in 2012 and most recently has been responsible for corporate development activities, including leading the company's successful launch of NextEra Energy Partners and playing a critical role in the recently announced proposed merger with Hawaiian Electric Industries. Prior to joining NextEra Energy, Hickson was with Merrill Lynch & Co., where he served as managing director of global mergers and acquisitions.

Ketchum joined NextEra Energy in 2002 and most recently has been responsible for leading the finance, accounting and tax organizations of NextEra Energy Resources, as well as profit and loss for NextEra Energy Resources' generating assets, and overseeing state regulatory and legislative affairs for NextEra Energy Resources. He has a diverse finance, legal, business and commercial transactions background with experience in domestic and international project development, project finance, mergers and acquisitions, dispute resolution, tax, corporate governance, corporate finance, securities, bankruptcy, operations, risk management, finance and accounting.

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