{"id":25953,"date":"2023-06-22T09:14:07","date_gmt":"2023-06-22T13:14:07","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/activist-investor-elliott-management-reportedly-seeks-to-oust-nrg-energys-ceo\/"},"modified":"2023-06-22T09:14:09","modified_gmt":"2023-06-22T13:14:09","slug":"activist-investor-elliott-management-reportedly-seeks-to-oust-nrg-energys-ceo","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=25953","title":{"rendered":"Activist investor Elliott Management reportedly seeks to oust NRG Energy\u2019s CEO"},"content":{"rendered":"
\n

Activist investor Elliott Investment Management is seeking to oust NRG Energy Inc.\u2019s chief executive, the Wall Street Journal reported late Wednesday.<\/p>\n

The move comes about a month after Elliott disclosed a $1 billion stake in the power company.<\/p>\n

According to the Journal, Elliott is talking with potential candidates to replace\u00a0Chief Executive\u00a0Mauricio Gutierrez\u00a0and other top executives.<\/p>\n

\n

In May, Elliott unveiled a plan to create about $5 billion in shareholder value for NRG, including a strategic review of its $5.2 billion acquisition of Vivent in 2022, which Elliott called \u201cthe single worst deal in the power and utilities sector in the past decade.\u201d\u00a0<\/p>\n

An NRG spokesperson told the Journal on Wednesday that the board supports its current executives and their strategy.<\/p>\n

On June 1, NRG authorized $650 million in stock repurchases, on top of a prior $350 million share buyback program.<\/p>\n

NRG Energy shares
\n NRG,
\n +1.07%<\/bg-quote>
\n are up about 6.5% year to date, but are down 7% over the past 12 months, compared to the S&P 500\u2019s
\n SPX,
\n -0.52%<\/bg-quote>
\n 14% gain in 2023 and 16% gain over the past year.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Activist investor Elliott Investment Management is seeking to oust NRG Energy Inc.\u2019s chief executive, the Wall Street Journal reported late Wednesday. The move comes about a month after Elliott disclosed a $1 billion stake in the power company. According to the Journal, Elliott is talking with potential candidates to replace\u00a0Chief Executive\u00a0Mauricio Gutierrez\u00a0and other top executives. […]<\/p>\n","protected":false},"author":1,"featured_media":25954,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-25953","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nActivist investor Elliott Management reportedly seeks to oust NRG Energy\u2019s CEO | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Activist investor Elliott Investment Management is seeking to oust NRG Energy Inc.\u2019s chief executive, the Wall Street Journal reported late Wednesday. 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