8-KLeadership ChangesExhibits & Filings

EVERSOURCE ENERGY 8-K Report, Executive Changes (Dec 11, 2023)

Filed December 11, 2023For Securities:ES

Summary

Eversource Energy (ES) announced a key leadership change in its Human Resources and Information Technology functions via an 8-K filing on December 11, 2023. Susan Sgroi has been elected Executive Vice President of Human Resources and Information Technology, effective January 8, 2024. Ms. Sgroi brings extensive experience from her previous roles at Blue Cross and Blue Shield of Massachusetts and Fidelity Investments. This transition involves the retirement of Christine M. Carmody from her executive role, though she will continue with the company as a Senior Strategic Advisor until July 2024. Ms. Sgroi's compensation package includes a base salary of $555,000, eligibility for executive plans, and a signing bonus of $357,500. This appointment is investor-relevant as it signals continuity and integration of experienced leadership in critical operational areas for Eversource Energy.

Key Highlights

  • 1Susan Sgroi appointed Executive Vice President-Human Resources and Information Technology, effective January 8, 2024.
  • 2Ms. Sgroi replaces Christine M. Carmody, who is retiring from her executive role but will serve as Senior Strategic Advisor until July 2024.
  • 3Ms. Sgroi brings significant HR leadership experience from previous roles at Blue Cross and Blue Shield of Massachusetts and Fidelity Investments.
  • 4Ms. Sgroi's annual base salary will be $555,000.
  • 5Ms. Sgroi will receive a signing bonus of $357,500, payable in February 2024.
  • 6She is eligible for existing executive compensation and incentive plans, details of which are in the 2023 Proxy Statement.
  • 7The company confirmed no family relationships or reportable transactions with related persons concerning Ms. Sgroi's appointment.

Frequently Asked Questions

Susan Sgroi has been elected as the new Executive Vice President of Human Resources and Information Technology for Eversource Energy, with her appointment effective January 8, 2024. She brings substantial experience from her prior leadership positions in human resources at major organizations like Blue Cross and Blue Shield of Massachusetts and Fidelity Investments.

Christine M. Carmody, the current Executive Vice President-Human Resources and Information Technology, is retiring from her executive position effective January 8, 2024. However, she will continue to support Eversource Energy in the capacity of a Senior Strategic Advisor until July 2024.

Ms. Sgroi's compensation includes an annual base salary of $555,000. She is also eligible to participate in various executive compensation plans, including the Deferred Compensation Plan for Executives and incentive programs like the Executive Change-in-Control and Involuntary Termination (Not For Cause) Severance programs, as well as annual and long-term incentive plans. Additionally, she will receive a cash signing bonus of $357,500, to be paid in February 2024.

The filing explicitly states that there are no family relationships between Ms. Sgroi and any Eversource Energy Trustees or executive officers. Furthermore, there are no disclosed arrangements or understandings that influenced her election, and she has no reportable transactions with related parties that require disclosure under SEC regulations.