8-K
filed January 25, 2022, 6:59 PM ET
ticker XIFR
CIK 0001603145
leadership
confidence high
sentiment positive
materiality 0.75
NextEra Energy Partners CEO succession: Ketchum to replace Robo; raised 2021 run-rate guidance
XPLR Infrastructure, LP
- James Robo retires as CEO effective March 1, 2022; remains board chair until April annual meeting.
- John Ketchum appointed CEO and expected to become board chair; Rebecca Kujawa becomes President.
- Kirk Crews appointed CFO effective March 1, 2022; expected to join board at annual meeting.
- Revised year-end 2021 run-rate adjusted EBITDA guidance raised to $1.635-$1.795B; CAFD to $640-$720M.
- Distribution growth target of 12%-15% per year through at least 2024 maintained; Q4 2022 annualized distribution expected $3.17-$3.25.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 1.0
John W. Ketchum was appointed as Chairman of the Board at XPLR Infrastructure, LP.
- Action
- appointed
- Role
- Chairman of the Board
Exact text from the filing
It is anticipated that, as of the annual meeting date, Mr. Ketchum will succeed Mr. Robo as Board Chair and as one of the four NEP Directors nominated for election by NEP’s unit holders.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
John W. Ketchum was appointed as Chief Executive Officer at XPLR Infrastructure, LP.
- Action
- appointed
- Role
- Chief Executive Officer
Exact text from the filing
John W. Ketchum, the President and a director of NEP, will cease his service as President and succeed Mr. Robo as Chief Executive Officer.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
James L. Robo retired as Chief Executive Officer at XPLR Infrastructure, LP.
- Action
- retired
- Role
- Chief Executive Officer
Exact text from the filing
James L. Robo, the Chairman of the Board of Directors (“Board Chair”) and Chief Executive Officer of NEP, will retire as Chief Executive Officer
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
T. Kirk Crews was appointed as Director at XPLR Infrastructure, LP.
- Action
- appointed
- Role
- Director
Exact text from the filing
It is anticipated that Mr. Crews will succeed Mr. Ketchum as one of the directors on NEP’s Board designated by NEP’s general partner, effective as of the annual meeting date.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
James L. Robo departed as Chairman of the Board at XPLR Infrastructure, LP.
- Action
- does not plan to stand for re-election
- Role
- Chairman of the Board
Exact text from the filing
Mr. Robo notified the Board that he intends to retire as Chief Executive Officer effective on March 1, 2022 and that he does not plan to stand for re-election by NEP’s unit holders at NEP’s annual meeting of unit holders scheduled for April 20, 2022.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
T. Kirk Crews was appointed as Chief Financial Officer at XPLR Infrastructure, LP.
- Action
- appointed
- Role
- Chief Financial Officer
Exact text from the filing
T. Kirk Crews, age 43, to succeed Mrs. Kujawa as the Chief Financial Officer of NEP effective on March 1, 2022.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Rebecca J. Kujawa was appointed as President at XPLR Infrastructure, LP.
- Action
- appointed
- Role
- President
Exact text from the filing
Rebecca J. Kujawa will cease her current service as Chief Financial Officer of NEP effective on March 1, 2022 to succeed Mr. Ketchum as President of NEP effective on that date.
View on SEC.gov
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