Clearway Energy CEO Chris Sotos to depart June 30; Craig Cornelius appointed, 2024 CAFD guidance reaffirmed at $395M

Clearway Energy LLC

Chris Sotos will step down as President and CEO of Clearway Energy, Inc. effective June 30, 2024.
Craig Cornelius, current CEO of sponsor Clearway Energy Group, will succeed Sotos as CEO and join the board on June 30.
Company reaffirms 2024 CAFD guidance of $395 million and 5-8% annual dividend growth target through 2026.
Separation agreement includes waiver of non-compete, pro-rata 2024 bonus, and up to $20k expense reimbursement.
Cornelius Employment Agreement: base salary $750k, target bonus 175% of salary, LTIP target 350% of salary.

item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Christopher S. Sotos

President and Chief Executive Officer

Clearway Energy LLC

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

On April 30, 2024, Christopher S. Sotos informed Clearway Energy, Inc. (“Clearway, Inc.”), the parent company of Clearway Energy LLC (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 Clearway, Inc. and the Company to pursue other opportunities.

Appointed

Craig Cornelius

Chief Executive Officer

Clearway Energy LLC

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

on April 30, 2024, Craig Cornelius was appointed to serve as the Chief Executive Officer of Clearway, Inc. and the Company, effective as of the Effective Date.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

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

Action: resigned
Role: President and Chief Executive Officer

Exact text from the filing

On April 30, 2024, Christopher S. Sotos informed Clearway Energy, Inc. (“Clearway, Inc.”), the parent company of Clearway Energy LLC (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 Clearway, Inc. and the Company to pursue other opportunities.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

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

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

on April 30, 2024, Craig Cornelius was appointed to serve as the Chief Executive Officer of Clearway, Inc. and the Company, effective as of the Effective Date.

View on SEC.gov

Source: SEC EDGAR

accession 0001104659-24-054964

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