NextEra Energy, Inc. (NEE, Financial) has announced a series of significant leadership changes as part of a planned succession process. On March 12, 2025, Rebecca Kujawa, President and Chief Executive Officer of NextEra Energy Resources, LLC (NEER), a subsidiary of NextEra Energy, notified the company of her intention to retire from her positions effective May 22, 2025.
In response to this planned transition, several key appointments have been made. Brian W. Bolster, currently the Executive Vice President, Finance and Chief Financial Officer of NEE and Florida Power & Light Company (FPL), will succeed Ms. Kujawa as President and Chief Executive Officer of NEER effective May 22, 2025. Concurrently, James M. May, Vice President, Controller and Chief Accounting Officer of NEE, will transition to the role of Treasurer of NEE and FPL and Assistant Secretary of NEE.
Further changes include the appointment of Michael H. Dunne, currently Treasurer of NEE and FPL and Assistant Secretary of NEE, to succeed Mr. Bolster as Executive Vice President, Finance and Chief Financial Officer of NEE and FPL. William J. Gough, Vice President, Financial Planning and Analysis of NEE, will take over Mr. May's previous role as Vice President, Controller and Chief Accounting Officer of NEE.
These appointments are accompanied by adjustments in compensation packages for Mr. Dunne and Mr. Gough, reflecting their new responsibilities. Mr. Dunne's annual base salary will be set at $850,000 with an annual incentive plan target of 70% of base salary, while Mr. Gough's base salary will be $385,000 with a 45% incentive plan target. Both executives will receive equity compensation awards under the NEE 2021 Long Term Incentive Plan, with specific allocations in performance share awards, non-qualified stock options, and restricted stock.
The Compensation Committee of NEE's Board of Directors has also approved Mr. Dunne's participation in the NEE Executive Severance Benefit Plan and an executive retention employment agreement, providing protections and benefits in the event of a change in control of NEE. Mr. Gough will participate in NEE's Supplemental Executive Retirement Plan.
These strategic leadership changes are designed to ensure a seamless transition and continued growth for NextEra Energy, reinforcing its commitment to delivering value to shareholders and stakeholders alike.
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