NextEra Energy CEO Jim Robo made $12.2M in 2014

wind-money330South Florida Business Journal, Duane Shimogawa
Jim Robo, chairman, president and CEO of NextEra Energy Inc., which is buying Hawaiian Electric Co. for $4.3 billion, received about $12.2 million in total compensation in 2014, up from about $10.4 million the previous year, according to a public filing Monday with the U.S. Securities and Exchange Commission.

The Florida-based company’s other top executives, including Chief Financial Officer Moray Dewhurst, Chief Nuclear Officer Manoochehr Nazar and NextEra Energy subsidiary NextEra Energy ResourcesPresident and CEO Armando Pimentel Jr., also saw their total compensation also increase during the same time period, according to the company’s proxy statement filed with the SEC.

Charles Sieving, who became a named officer at NextEra Energy (NYSE: NEE) as its general counsel in 2014, received about $2.9 million in total compensation in 2014. Read article

4 thoughts on “NextEra Energy CEO Jim Robo made $12.2M in 2014

  1. Shareholders approve FPL-parent’s executive compensation
    May 26, 2012

    Shareholders of NextEra Energy, parent to Florida Power & Light Co., approved the company’s executive compensation plan at its annual meeting Friday.

    The margin of approval will be filed with regulators by the end of next week, a company spokesman said.

    Outgoing chief executive Lewis Hay III – one of the highest paid executives in South Florida last year – defended his compensation to shareholders. His package totaled $14.8 million in 2011. The utility did not say what it would be in 2012.

    A small number of activists each bought one share so they could attend the meeting and question Hay about his compensation.

    The CEO defended his pay, saying, a competitive level of executive compensation “is important if you want to attract and retain management.”

    The advisory vote is mandated by the Dodd-Frank financial reform law. Other shareholders were more interested in the future of the company. Hay will step down this summer after 10 years as CEO and become executive chairman.

    James Robo, president of NextEra who takes over as CEO in July, assured shareholders that the company’s outlook was healthy. Robo said NextEra’s earnings per share growth has outperformed the S&P 500’s electric utilities index for 10 years, with NextEra earning 6.3 percent versus the index yielding 2.2 percent. Shareholder return in 2011 was nearly 22 percent, he said.

    Robo said a larger percentage of NextEra’s earnings will come from its regulated businesses, including FPL and a Texas energy firm. By 2014, 65 percent of earnings are expected from the regulated businesses, compared to 58 percent in 2011.

    About 50 minutes into the meeting, a small group of activists took off their jackets to reveal protester T-shirts and began chanting, “Pay Your Fair Share!” They were soon ousted by NextEra’s security.

    Tony Fransetta, a shareholder from Wellington, said he represented the Florida Alliance for Retired Americans. He told Hay, “There’s a disparity between your salary and your customers. We have seniors who can’t afford their air conditioning, who can’t afford their prescriptions.”

    Shareholder Rhonda Roff came to the meeting to ask NextEra to take a leadership role in renewable energy for the state. Roff said she is concerned that ratepayers are covering the cost of planning new nuclear units that will never come online.

    Hay said the company is in the process of licensing two new units at Turkey Point near Homestead, but it hasn’t yet decided whether to build the plants.

    While Hay took it on the chin from some shareholders over his pay, the outgoing CEO did have a fan in 89-year-old Ed Arcentales of West Palm Beach who comes to the meeting every year.

    Arcentales, who owns more than 2,000 shares, said he hasn’t always agreed with the company, especially in executive compensation, but he thanked Hay “for a job well done.”

    “I wish we had more shareholders like Ed,” Hay said, noting that the company has learned from shareholders’ feedback.

  2. Hawaiian Electric shareholders to vote on NextEra Energy merger this spring
    Jan 9, 2015

    Hawaiian Electric Industries expects to hold a special shareholder meeting this spring to vote on Florida-based NextEra Energy’s $4.3 billion acquisition of Hawaiian Electric, a spokesman for the Honolulu-based company told PBN this week.

    Up until this week, neither company had revealed when this key meeting would take place.

    Lynne Unemori, spokeswoman for Hawaiian Electric Industries (NYSE: HE), told PBN that an exact date is not set yet.

    The shareholder vote is one of several requirements still needed to finalize the deal, which also includes regulatory approvals by the Hawaii Public Utilities Commission.

    Deborah Kwan, spokeswoman for the state agency, recently told PBN that it declines comment at this time because it anticipates receiving an application regarding the announced transaction between NextEra Energy (NYSE: NEE) and HEI.

    Alan Oshima, president and CEO of HECO, said last month that the transaction approval application would be filed by the end of January.

    The two companies have said that they expect the deal to close on Dec. 3.

    NextEra Energy, in documents filed with federal regulators this week, revealed new details of how the acquisition transpired, as first reported by PBN.

    Talks of a deal first began in May 2014, when Jim Robo, chairman and CEO of NextEra Energy, requested a meeting with Connie Lau, president and CEO of HECO parent, HEI.

  3. Premier Kathleen Wynne –
    Chief Executive Officer (CEO) – Province of Ontario
    – wants to be known as…
    Ontario’s first – social justice premier.

    Nobody knows what she really does,
    but she is very involved in
    Ontario politics!


    Dalton McGuinty – former CEO (Premier) –
    ……..broke a lot of promises
    he quit;
    losers quit.
    He is now a lobbyist – and spends time with his family.


    The Worst CEO Screw-ups Of 2012

    The Worst CEO Screw-Ups Of 2013

    The Worst CEO Screw-Ups Of 2014

    And that is the story of CEO screw ups!

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