CENTERPOINT ENERGY INC FILES (8-K) Disclosing Change in Directors or Principal Officers
(Edgar Glimpses Via Acquire Media NewsEdge) ITEM 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
On October 29, 2013, CenterPoint Energy, Inc. (the "Company") announced that
(i) David M. McClanahan will step down as President and Chief Executive Officer
of the Company and as a member of the Company's Board of Directors (the
"Board"), effective December 31, 2013, and (ii) Scott M. Prochazka has been
selected by the Board to succeed Mr. McClanahan as President and Chief Executive
Officer of the Company and to become a member of the Board, effective January 1,
2014. Mr. Prochazka was appointed to these positions by the Board on October 24,
2013. Following December 31, 2013, Mr. McClanahan will continue to serve as an
officer of the Company and special advisor to the Company's Chief Executive
Officer during a transition period and until Mr. McClanahan's retirement, which
is expected to occur in the second half of 2014.
Mr. Prochazka, age 47, has served as Executive Vice President and Chief
Operating Officer of the Company since August 1, 2012. He previously served as
Senior Vice President and Division President, Electric Operations of the Company
from May 2011 through July 2012; as Division Senior Vice President, Electric
Operations of the Company's wholly owned subsidiary, CenterPoint Energy Houston
Electric, LLC, from February 2009 to May 2011; as Division Senior Vice President
Regional Operations of the Company's wholly owned subsidiary, CenterPoint Energy
Resources Corp., from February 2008 to February 2009; and as Division Vice
President, Customer Service Operations, from October 2006 to February 2008. The
Board determined that Mr. Prochazka should be appointed as a director due to his
extensive knowledge of the industry and the Company, its operations and people,
gained in his years of service with the Company in positions of increasing
No modifications were made to either Mr. McClanahan's or Mr. Prochazka's
existing compensation arrangements in connection with the announced succession
plan. As of the date of this filing, the Company has not made any determination
with regard to any compensatory plan, contract, arrangement or award for Mr.
Prochazka in connection with his appointment to succeed Mr. McClanahan.
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