Talen names Terry Nutt CEO effective Jan 1, 2027; announces $1.5B ASR and $3.0B buyback

Talen Energy Corp

Talen's board named Terry L. Nutt CEO and President effective Jan 1, 2027; Mark 'Mac' A. McFarland will step down then serve as senior advisor until retirement March 1, 2027.
Nutt's CEO package sets base salary at $1,200,000, target bonus at 135% of salary, and long-term incentive target at 700% of salary; McFarland will receive $100,000 as senior advisor.
Talen Energy Marketing sold future PJM capacity revenues for 2027/28 and 2028/29: about 6.5 GW and 6.0 GW, roughly $1.5 billion, advanced at SOFR plus 200 bps.
Board raised share repurchase authorization by $1.5B to $3.0B and Talen entered $1.5B accelerated share repurchase agreements, initially receiving about 4.0 million shares (~80%).
Talen had about 47.3 million shares outstanding as of Sept 28, 2026, and expects final ASR settlement no later than Q1 2027.

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