8-KLeadership Changes

EVERSOURCE ENERGY 8-K Report, Executive Changes (Jan 5, 2005)

Filed January 5, 2005For Securities:ES

Summary

This Form 8-K filing from Northeast Utilities (NU) reports a significant change in its executive leadership. Effective December 31, 2004, John H. Forsgren, who held the crucial roles of Principal Financial Officer, Trustee, Vice Chairman, Executive Vice President, and Chief Financial Officer, resigned and retired. This marks the end of his tenure with the company. Concurrently, the company announced that David R. McHale's appointment as Senior Vice President and Chief Financial Officer, initially elected in September 2004, became effective on January 1, 2005. Mr. McHale will also assume these financial leadership roles across several key NU subsidiaries, including The Connecticut Light and Power Company and Public Service Company of New Hampshire. Investors should note this transition in financial oversight and assess the impact of Mr. McHale's leadership on the company's financial strategy and performance.

Key Highlights

  • 1John H. Forsgren resigned as Principal Financial Officer, Trustee, Vice Chairman, Executive Vice President, and Chief Financial Officer of Northeast Utilities (NU) effective December 31, 2004.
  • 2John H. Forsgren's retirement was effective January 1, 2005.
  • 3David R. McHale's election as Senior Vice President and Chief Financial Officer became effective January 1, 2005.
  • 4David R. McHale will also serve as Senior Vice President and Chief Financial Officer for several major NU subsidiaries: The Connecticut Light and Power Company, Public Service Company of New Hampshire, Western Massachusetts Electric Company, and Yankee Gas Services Company.
  • 5David R. McHale is 44 years old and previously held the positions of Vice President and Treasurer for NU and its subsidiaries.
  • 6Mr. McHale will hold his new positions until the next annual elections of officers.
  • 7Mr. McHale participates in the Supplemental Executive Retirement Plan for Officers of Northeast Utilities and other senior officer compensation/benefit programs.

Frequently Asked Questions

David R. McHale has taken over the role of Senior Vice President and Chief Financial Officer, with his appointment becoming effective on January 1, 2005. He was previously elected to this position in September 2004.

Yes, David R. McHale will assume the titles of Senior Vice President and Chief Financial Officer for several key Northeast Utilities subsidiaries, including The Connecticut Light and Power Company, Public Service Company of New Hampshire, Western Massachusetts Electric Company, and Yankee Gas Services Company.

Prior to his current role, David R. McHale served as Vice President and Treasurer for Northeast Utilities and certain of its subsidiaries since before the year 2000.

Mr. McHale will hold his new positions until the company's next annual elections of officers and until his successors are elected. He is also part of the company's Supplemental Executive Retirement Plan and other senior officer benefit programs.