8-KLeadership Changes

CENTERPOINT ENERGY INC 8-K Report, Executive Changes (Oct 26, 2007)

Filed October 26, 2007For Securities:CNP

Summary

This 8-K filing announces a change to CenterPoint Energy's Board of Directors, effective October 25, 2007. The Board appointed Mr. Sherman M. Wolff as a new director, increasing the board size from 10 to 11 members. Mr. Wolff will serve until the next annual shareholder meeting in 2008 and is expected to stand for election at that time. His appointment brings extensive experience to the board, particularly in the insurance and financial services sectors.

Key Highlights

  • 1CenterPoint Energy's Board of Directors has appointed Sherman M. Wolff as a new director.
  • 2The board size has increased from 10 to 11 directors.
  • 3Mr. Wolff's appointment is effective October 25, 2007, and he will serve until the 2008 annual shareholder meeting.
  • 4Mr. Wolff has been appointed to serve on the Audit, Compensation, and Finance Committees of the Board.
  • 5Mr. Wolff previously served as Executive Vice President and Chief Operating Officer of Health Care Service Corporation (Blue Cross Blue Shield of Texas, Illinois, New Mexico and Oklahoma) until his retirement in 2006.
  • 6He currently serves as a director of Fort Dearborn Life Insurance Company.
  • 7The filing indicates Mr. Wolff is expected to stand for election by shareholders at the 2008 annual meeting.

Frequently Asked Questions

Sherman M. Wolff is a newly appointed director to CenterPoint Energy's Board. He retired in 2006 from his role as Executive Vice President and Chief Operating Officer of Health Care Service Corporation, a major health and life insurance provider. He has a long career with this company, holding various positions since 1991. He also currently sits on the board of Fort Dearborn Life Insurance Company.

The Board of Directors size has increased from 10 to 11 members specifically to accommodate the appointment of Mr. Sherman M. Wolff.

Mr. Wolff has been designated to serve on three key committees of the Board of Directors: the Audit Committee, the Compensation Committee, and the Finance Committee. This suggests the Board values his expertise in these critical areas.

Yes, the filing states that Mr. Wolff is expected to stand for election by the shareholders at the 2008 annual meeting, providing shareholders with an opportunity to formally elect him to the Board.