22nd July 2024

Eric Silagy, chairman, president and CEO of Florida Energy & Mild Co. (FPL), has notified the corporate of his intention to retire after 20 years with the corporate, together with 11 years main FPL.

Armando Pimentel, who beforehand served in a number of senior govt roles with NextEra Vitality Inc., will rejoin the corporate and is called president and CEO of FPL. John Ketchum, chairman, president and CEO of NextEra Vitality, is called chairman of FPL.

“I wish to thank Eric for his 20 years of devoted service to our firm, our prospects and the communities the place we do enterprise,” says Ketchum. “Eric is a passionate advocate for steady enchancment and underneath his management FPL has reworked into the nation’s largest electrical utility, offering our prospects with the nation’s most dependable service with payments considerably decrease than the nationwide common. His dedication to placing prospects first was on full show final 12 months throughout hurricanes Ian and Nicole, the place his dedication, dedication and compassion drove the FPL crew to revive energy in report time and rapidly put the state of Florida again on its ft.”

Silagy has labored for NextEra Vitality for practically twenty years. Previous to his appointment as president of FPL in 2011, he served as senior vp of regulatory and state governmental affairs and as chief improvement officer, managing all technology improvement, together with photo voltaic, pure fuel and nuclear power initiatives. Silagy additionally frolicked working for NextEra Vitality Assets LLC, the place he served as vp and normal supervisor of the southern area, and vp of enterprise improvement.

Previous to becoming a member of NextEra Vitality, Silagy served as vp, mergers, acquisitions and divestitures at Entergy Wholesale Operations, and as vp and managing director at Southeast Asia, for The Wing Group, a subsidiary of Western Assets. He additionally labored for U.S. Senator J. Bennett Johnston of Louisiana in a number of capacities, together with chief of workers.

“It has been an honor and privilege to steer the FPL crew for greater than a decade and I couldn’t be extra happy with the accomplishments we have now delivered to our prospects and the state of Florida,” states Silagy. “Over the past decade, we have now reworked FPL’s technology fleet into one of many cleanest, most dependable and lowest-cost portfolios within the nation, delivered award-winning customer support, ensured payments are considerably decrease than the nationwide common and offered our prospects one of the best grid reliability within the nation. These outcomes are the consequence of the onerous work and dedication of our practically 10,000 FPL workers, who day-after-day put the shopper first and at all times try to innovate and do higher. I do know the longer term is vibrant and that I’m leaving the corporate in nice fingers.”

“When John grew to become CEO of NextEra Vitality final 12 months, I dedicated to him that I’d keep in my function for at the very least another 12 months and I’ve now glad that dedication,” continues Silagy. “Whereas saying ‘goodbye’ to such an amazing group is at all times tough, I do know that now could be the correct time for me at hand over the reins of FPL.”

“We welcome Armando again to our firm,” Ketchum says about Pimentel rejoining NextEra Vitality. “He is an efficient good friend and colleague who I’ve labored carefully with for a few years and I’m delighted that he shall be rejoining our crew. Armando has deep information of our firm and our tradition and he’ll convey unbelievable self-discipline and business expertise to his function main FPL. He’s additionally a life-long Floridian who cares deeply about serving our prospects. His earlier expertise as chief monetary officer (CFO) for each NextEra Vitality and FPL will enable him to rapidly hit the bottom operating with a give attention to delivering worth to our many stakeholders.”

From Could 2008 to March 2019, Pimentel was a member of NextEra Vitality’s senior govt crew. Initially, he served as NextEra Vitality’s and FPL’s CFO. In October 2011, he was named president and CEO of NextEra Vitality Assets LLC, the corporate’s aggressive energy technology subsidiary, a place he held till March 2019 when he retired. He additionally served as president and a member of the board of NextEra Vitality Companions LP from June 2014 till March 2019.

Previous to becoming a member of NextEra Vitality, Pimentel was a senior associate at Deloitte & Touche LLP. He additionally beforehand labored as an accounting fellow with the Workplace of the Chief Accountant of the Securities and Alternate Fee. Pimentel at the moment serves on the board of Ameriprise Monetary, Inc.

Pimentel will formally take up his new function at FPL on Feb. 15, 2023, after which he and Silagy will work carefully collectively to make sure a easy transition of tasks. Silagy’s final day with NextEra Vitality shall be Could 15, 2023.

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