Clearway Energy CEO Chris Sotos to step down June 30; Craig Cornelius named successor

Clearway Energy, Inc.

Chris Sotos resigns as CEO and director effective June 30, 2024; separation includes pro-rata 2024 bonus and waiver of non-compete.
Craig Cornelius, CEO of sponsor Clearway Energy Group, appointed CEO and board member effective June 30.
Cornelius compensation: $750,000 base salary, 175% target bonus, 350% LTIP target, and 375,000 restricted shares vesting over 3 years.
Company reaffirms 2024 CAFD guidance of $395M; expects upper range of 5-8% annual dividend growth through 2026.

item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

Craig Cornelius

Chief Executive Officer

CWEN · Clearway Energy, Inc.

Effective: 2024-06-30
Filed: April 30, 2024, 7:59 PM ET

the Board elected Craig Cornelius to serve as a member of the Board and appointed Mr. Cornelius to serve as the Chief Executive Officer of the Company, in each case effective as of the Effective Date.

Departed

Christopher S. Sotos

President and Chief Executive Officer

CWEN · Clearway Energy, Inc.

Effective: 2024-06-30
Successor: Craig Cornelius
Filed: April 30, 2024, 7:59 PM ET

Christopher S. Sotos informed Clearway Energy, Inc. (the “Company”) that, effective as of June 30, 2024 (the “Effective Date), he will move on from his position as President and Chief Executive Officer of the Company and resign from his role as a member of the Board of Directors

Key facts

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Executive change SEC 8-K Item 5.02 confidence 1.0

Craig Cornelius was appointed as Chief Executive Officer at Clearway Energy, Inc..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

the Board elected Craig Cornelius to serve as a member of the Board and appointed Mr. Cornelius to serve as the Chief Executive Officer of the Company, in each case effective as of the Effective Date.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Christopher S. Sotos resigned as President and Chief Executive Officer at Clearway Energy, Inc..

Action: resigned
Role: President and Chief Executive Officer

Exact text from the filing

Christopher S. Sotos informed Clearway Energy, Inc. (the “Company”) that, effective as of June 30, 2024 (the “Effective Date), he will move on from his position as President and Chief Executive Officer of the Company and resign from his role as a member of the Board of Directors

View on SEC.gov

Clearway Energy, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-054956

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