Centerpoint Energy CFO to retire

Bill Rogers, the CFO of Centerpoint Energy (market cap $14 billion) has announced he intends to retire for personal and family reasons. He will leave the company at the end of the first quarter of 2019 after a successor is named.

Mr Rogers joined the company in March 2015 from New Jersey-based American Water Works. He has a base salary of $555,000.  According to the proxy there are not any severance payments due as a result of his retirement. However by the time Mr Rogers leaves at the end of Q1, about $1.7 million in stock and performance shares will vest.

Back in April, Centerpoint agreed to acquire Vectren, another utility company, for $6 billion in cash. Centerpoint serves 5 million customers in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma and Texas. Vectren has 1 million customers in Indiana and Ohio.

Centerpoint expects the deal to close in the first quarter of 2019. The company will continue to have its head office in downtown Houston.

SEC filing

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