8-KOther Events

EVERSOURCE ENERGY 8-K Report (Dec 17, 2003)

Filed December 17, 2003For Securities:ES

Summary

This 8-K filing from Northeast Utilities (NU), now EVERSOURCE ENERGY (ES), reports a significant leadership change. Effective January 1, 2004, Michael G. Morris, who held the positions of Chairman, President, and CEO, will depart to become the president and chief executive officer of American Electric Power, Inc. This transition marks the end of Mr. Morris's tenure at NU. In response to Mr. Morris's departure, NU's Board of Trustees has appointed interim leadership. Elizabeth T. Kennan, currently the Lead Trustee, will serve as interim Chairman of the Board, and Charles W. Shivery, President of the Competitive Group, will assume the role of interim President. The company has also initiated an executive search committee to find a permanent replacement for the CEO position, signaling a period of transition for the company's top management.

Key Highlights

  • 1Michael G. Morris, Chairman, President, and CEO of Northeast Utilities (NU), has been appointed president and chief executive officer of American Electric Power, Inc., effective January 1, 2004.
  • 2NU's Board of Trustees has named Elizabeth T. Kennan as interim Chairman of the Board.
  • 3Charles W. Shivery has been appointed interim President of NU.
  • 4These leadership changes are effective as of January 1, 2004.
  • 5An executive search committee has been formed to find a new permanent CEO.
  • 6The company has issued a news release on December 16, 2003, regarding these events, which is attached as Exhibit 99.

Frequently Asked Questions

The main purpose of this 8-K filing is to announce a significant change in the executive leadership of Northeast Utilities (NU), specifically the departure of its CEO, Michael G. Morris, and the appointment of interim leadership.

Michael G. Morris is leaving Northeast Utilities to become the president and chief executive officer of American Electric Power, Inc. His successor at NU has not yet been named permanently. Elizabeth T. Kennan will serve as interim Chairman of the Board, and Charles W. Shivery will serve as interim President.

The leadership changes, including Michael G. Morris's departure and the appointments of interim leadership, will be effective January 1, 2004.

Northeast Utilities has established an executive search committee that will conduct a search for a new chief executive officer to fill the permanent role.