8-KOther Events

CENTERPOINT ENERGY INC 8-K Report (Oct 1, 2002)

Filed October 1, 2002For Securities:CNP

Summary

This Form 8-K filing from CenterPoint Energy, Inc. (CNP) on October 1, 2002, details significant corporate actions, primarily the spin-off of its stake in Reliant Resources, Inc. The distribution of all Reliant Resources common stock to CenterPoint Energy's shareholders was completed on September 30, 2002. This event marks a strategic separation, allowing CenterPoint Energy to focus on its core utility operations. In conjunction with this separation, the company also announced a change in its corporate identity. Effective October 1, 2002, CenterPoint Energy ceased operating under the name "Reliant Energy, Incorporated" and began trading under the new ticker symbol "CNP" on the stock exchange, replacing its former symbol "REI." The filing also reports a significant shift in leadership, with several key executives and board members resigning as of September 30, 2002, and new leadership taking the helm to guide the company's future direction.

Key Highlights

  • 1Completion of the distribution of all CenterPoint Energy's shares in Reliant Resources, Inc. to its common shareholders on September 30, 2002.
  • 2CenterPoint Energy ceased operating under the name "Reliant Energy, Incorporated" effective October 1, 2002.
  • 3CenterPoint Energy's common stock commenced trading under the new ticker symbol "CNP" on October 1, 2002, replacing "REI."
  • 4Significant board of directors changes: R. Steve Letbetter and Laree E. Perez resigned from the board as of September 30, 2002.
  • 5Major executive officer resignations as of September 30, 2002, including R. Steve Letbetter (Chairman, President and CEO) and other key finance and legal roles.
  • 6New executive leadership appointed, with David M. McClanahan named President and Chief Executive Officer.
  • 7Filing includes a press release dated September 30, 2002, as an exhibit.

Frequently Asked Questions

The primary purpose of this 8-K filing was to report the completion of CenterPoint Energy's distribution of its shares in Reliant Resources, Inc. to its shareholders and to announce significant corporate name and ticker symbol changes, along with executive leadership transitions.

Effective October 1, 2002, CenterPoint Energy ceased operating under the name 'Reliant Energy, Incorporated' and commenced trading under the ticker symbol 'CNP', replacing the previous symbol 'REI'.

The new executive leadership includes David M. McClanahan as President and Chief Executive Officer, Scott E. Rozzell as Executive Vice President, General Counsel and Corporate Secretary, Stephen C. Schaeffer as Executive Vice President - Government and Regulatory Affairs, Gary L. Whitlock as Executive Vice President and Chief Financial Officer, James S. Brian as Senior Vice President and Chief Accounting Officer, and Thomas R. Standish as President and Chief Operating Officer of CenterPoint Energy Houston Electric, LLC.

The filing indicates this was a 'distribution of all of the shares of Reliant Resources, Inc. common stock owned by CenterPoint Energy to its common shareholders on a pro rata basis.' This suggests a strategic move to separate the businesses, allowing CenterPoint Energy to focus on its core utility operations.