Talen names Terry Nutt CEO effective Jan. 1, 2027; Mac McFarland retires
Terry Nutt is named president and chief executive officer effective Jan. 1, 2027, and will join the board. Mac McFarland steps down as CEO at year-end 2026, serving as senior adviser until retiring in March 2027.
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08:18:28 PM UTC
SquawkNews
Sept 29 (Reuters) — Talen Energy said on Tuesday it named President Terry Nutt as its next chief executive officer, effective January 1, and increased its share repurchase authorization to $3 billion through 2028. (Reporting by Varun Sahay in Bengaluru; Editing by Maju Samuel) ((Varun.Sahay@thomsonreuters.com;)
08:30:40 PM UTC
SquawkNews
(Add details from paragraph 2) Sept 29 (Reuters) — Talen Energy on Tuesday named President Terry Nutt as its next chief executive officer effective January 1, and increased its share repurchase authorization to $3 billion through 2028. Nutt, who has served as Talen's president since December and previously was chief financial officer, will join the company's board when he becomes CEO. Current CEO Mac McFarland will remain in the role and on the board through December 31 before serving as a senior adviser until his retirement in March 2027. The company entered into $1.5 billion of accelerated share repurchase agreements, expected to buy back more than 10% of its outstanding shares. (Reporting by Varun Sahay in Bengaluru; Editing by Maju Samuel) ((Varun.Sahay@thomsonreuters.com;)