8-KLeadership Changes

ENTERGY CORP /DE/ 8-K Report, Executive Changes (Sep 6, 2012)

Filed September 6, 2012For Securities:ETR

Summary

Entergy Corporation announced a significant leadership transition, with CEO and Chairman J. Wayne Leonard set to retire effective February 1, 2013. The Board of Directors has elected current Executive Vice President and CFO, Leo P. Denault, to succeed Mr. Leonard as CEO and Chairman. This transition marks a planned succession, as Mr. Denault has been with Entergy since 2004 and previously held the CFO role. Accompanying this major change, Andrew Marsh has been appointed as the new Executive Vice President and Chief Financial Officer, moving up from his role as Vice President, System Planning. The report also details the compensation adjustments for both Mr. Denault and Mr. Marsh in their new roles, including base salary increases and bonus targets, as well as continued participation in long-term incentive plans. Additionally, Richard J. Smith, President of Entergy Wholesale Commodity Business, will retire on the same date, and William M. Mohl will succeed him.

Key Highlights

  • 1CEO and Chairman J. Wayne Leonard will retire on February 1, 2013.
  • 2Leo P. Denault, currently EVP and CFO, will become the new CEO and Chairman, effective February 1, 2013.
  • 3Andrew Marsh, previously VP of System Planning, will be appointed EVP and CFO, effective February 1, 2013.
  • 4Leo P. Denault's base salary will increase to $1,085,000 and his annual cash bonus target will increase to 120% from 70% of base salary.
  • 5Andrew Marsh's base salary will be set at $500,000 with an annual cash bonus target of 70% of base salary.
  • 6Richard J. Smith, President of Entergy Wholesale Commodity Business, will retire on February 1, 2013.
  • 7William M. Mohl will succeed Richard J. Smith as President of Entergy Wholesale Commodity Business.

Frequently Asked Questions

Leo P. Denault, who is currently Entergy's Executive Vice President and Chief Financial Officer, has been elected to succeed Mr. Leonard as Chief Executive Officer and Chairman of the Board of Directors, effective February 1, 2013.

Upon becoming CEO, Mr. Denault's annual base salary will increase to $1,085,000 from $674,856. His annual cash bonus target will increase to 120% of his base salary from 70%. He will continue to participate in long-term incentive programs.

Andrew Marsh, previously Vice President, System Planning, has been appointed as the new Executive Vice President and Chief Financial Officer, effective February 1, 2013.

Mr. Marsh's annual base salary will be $500,000, and his annual cash bonus target will be set at 70% of his base salary. He will also continue to participate in long-term incentive programs.