Summary
Eversource Energy (ES) filed an 8-K on November 4, 2019, to announce the retirement of Leon J. Olivier, Executive Vice President of Enterprise Energy Strategy and Business Development, effective December 31, 2019. Mr. Olivier, aged 71, has been a key executive within the company. His departure marks a restructuring of his former responsibilities, which will be absorbed by existing senior leadership.
Key Highlights
- 1Leon J. Olivier, EVP of Enterprise Energy Strategy and Business Development, to retire effective December 31, 2019.
- 2Mr. Olivier is 71 years old.
- 3Following his retirement, his responsibilities will be split between Joseph R. Nolan (EVP-Strategy, Customer and Corporate Relations) and James W. Hunt, Jr. (SVP-Communications, External Affairs and Sustainability).
- 4Mr. Olivier has agreed to serve as a strategic advisor to the CEO post-retirement.
- 5This filing indicates a leadership transition and potential strategic shifts within the company's strategy and business development functions.
Frequently Asked Questions
The main event is the announced retirement of Leon J. Olivier, Executive Vice President of Enterprise Energy Strategy and Business Development, and the subsequent reallocation of his duties.
Mr. Olivier's responsibilities will be divided and managed by Joseph R. Nolan, Executive Vice President-Strategy, Customer and Corporate Relations, and James W. Hunt, Jr., Senior Vice President-Communications, External Affairs and Sustainability.
Yes, following his retirement, Mr. Olivier has agreed to serve as a strategic advisor to Eversource's chairman, president, and chief executive officer, Jim Judge.
While the filing indicates a reallocation of responsibilities, the appointment of Mr. Olivier as a strategic advisor suggests a desire to retain his expertise. Investors may want to monitor future communications for any explicit strategic shifts stemming from this transition.