Summary
Entergy Corporation announced a significant executive transition, appointing Paul D. Hinnenkamp as its new Senior Vice President and Chief Operating Officer, effective November 1, 2015. This move is part of the company's ongoing efforts to strengthen its operational leadership. Mr. Hinnenkamp brings extensive experience within Entergy, having most recently served as Senior Vice President of Capital Project Management & Technology. His promotion reflects a strategic alignment of leadership talent with key operational functions. The appointment comes with a compensation adjustment, including an increase in base salary to $430,000 and continued eligibility for annual cash bonuses and equity awards under existing company plans. Additionally, Mr. Hinnenkamp was granted 9,000 restricted stock units, which will vest over three years, contingent on his continued service. This compensation structure aims to incentivize long-term performance and align executive interests with shareholder value. Mr. Hinnenkamp has also been elected as a director of Entergy Louisiana, LLC, a subsidiary, though this role does not carry additional compensation.
Key Highlights
- 1Paul D. Hinnenkamp appointed Senior Vice President and Chief Operating Officer, effective November 1, 2015.
- 2Mr. Hinnenkamp's base salary increased to $430,000 from $356,380.
- 3He remains eligible for a 60% target annual cash bonus under the Annual Incentive Plan.
- 4Mr. Hinnenkamp will continue to receive equity awards (performance units, restricted stock, stock options) under the 2015 Equity Ownership Plan.
- 5Awarded 9,000 restricted stock units, vesting in three equal annual installments starting April 1, 2016.
- 6Elected as a director of Entergy Louisiana, LLC, a subsidiary, effective November 1, 2015, with no additional compensation for this role.
- 7Mr. Hinnenkamp has a strong internal track record, previously holding leadership roles in Capital Project Management & Technology and Generation Development & Support.