Who is Chris N. Froggatt and what are his new responsibilities?

Chris N. Froggatt has been appointed as Vice President of NextEra Energy, Inc. (formerly FPL Group) effective October 19, 2009. He will also assume the roles of Controller and Chief Accounting Officer, becoming the principal accounting officer upon the company filing its 2009 10-K. He brings significant accounting and financial leadership experience from his previous positions at Pinnacle West Capital Corporation and Arizona Public Service Company.

Why is the company appointing a new Chief Accounting Officer?

The appointment of Chris N. Froggatt as the incoming Chief Accounting Officer is in conjunction with the planned retirement of the current principal accounting officer, K. Michael Davis. This transition aims to ensure continuity and strengthen the company's financial reporting and accounting functions.

What is the compensation package for Mr. Froggatt?

Mr. Froggatt will receive a base salary of $305,000 for 2009, a $100,000 signing bonus (repayable if he leaves voluntarily within one year), participation in the Executive Annual Incentive Plan, the Long Term Incentive Plan (LTIP), and the Supplemental Executive Retirement Plan. He will also receive a sign-on restricted stock grant and anticipates further equity grants in February 2010, including stock options, restricted stock, and performance shares, with values detailed in the filing.

Are there any changes to the Board of Directors?

Yes, the Board of Directors has increased in size from twelve to thirteen members. William H. Swanson, Chairman and CEO of Raytheon Company, has been appointed as a new director to fill this additional position. He will receive compensation consistent with other non-employee directors and has been granted restricted stock.

NEE 8-K: Leadership Changes & Corporate Changes

Summary

This 8-K filing from NextEra Energy Inc. (formerly FPL Group, Inc.) on October 20, 2009, primarily announces significant changes in its executive leadership and board composition. The company appointed Chris N. Froggatt as Vice President and incoming Controller and Chief Accounting Officer, effective October 19, 2009, and later as principal accounting officer upon the filing of the company's 2009 10-K. Mr. Froggatt brings extensive accounting and financial experience from his previous roles at Pinnacle West Capital Corporation and its subsidiary, Arizona Public Service Company. Concurrently, K. Michael Davis, the current principal accounting officer, announced his planned retirement. The filing also details Mr. Froggatt's compensation package, including salary, bonus, incentive plans, and equity grants, reflecting a strategic move to bolster the company's financial reporting and oversight functions.

Key Highlights

1Appointment of Chris N. Froggatt as Vice President and future Controller/Chief Accounting Officer, effective October 19, 2009.
2Mr. Froggatt's extensive prior experience at Pinnacle West Capital Corporation and Arizona Public Service Company is highlighted.
3K. Michael Davis, the current principal accounting officer, has announced his intention to retire.
4Details of Mr. Froggatt's compensation package, including base salary, signing bonus, incentive plans, and various equity grants (restricted stock, options, performance shares).
5The company's Board of Directors size was increased to thirteen, with the appointment of William H. Swanson as a new director.
6Amendments to the company's Bylaws were adopted, clarifying procedures for presiding over Board meetings and calling committee meetings.

NEXTERA ENERGY INC 8-K Report, Executive Changes (Oct 20, 2009)

Summary

Key Highlights

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