Coben assumes interim leadership of NRG

Houston headquartered NRG Energy announced changes in leadership before the Thanksgiving holiday. The move comes after Mauricio Gutierrez's resignation and departure from the company.

"Today, NRG is in a position of strength," Coben said, according to a Nov. 20 press release issued by NRG. The company is generating substantial cash flow, which is supporting a solid balance sheet, investments in our business and meaningful capital returns," Coben said in the release.", said Lawrence Coben.

On his new appointment, Dr. Coben shared some optimistic insights about NRG. Coben added that NRG’s integration with Vivint is underway, and the company has clear upside value creation opportunities, according to the release.
"The board is confident in NRG’s strategic direction as a consumer energy and services company, and we extend our appreciation to Mauricio for his contributions in helping to build NRG’s solid foundation as we prepare for the next generation of leadership," he said in the release.

Moving on from Dr. Coben's remarks, Heather Cox, who serves as the Chair of the NRG Board’s Governance and Nominating Committee, said in the release that Coben is well-equipped for the job.
"Larry’s experience as Chair of NRG’s Board of Directors, together with his experience as a CEO and as an investor in many companies in the energy industry, provide a cross-section of skills that make him well-suited to serve as Interim President and Chief Executive Officer," she said. "We are confident that Larry’s stewardship, with the support of NRG’s strong executive management team, will continue to drive the strategy and business forward while the CEO search is conducted."

Looking further into Dr. Coben's background reveals his long-standing relationship with NRG Energy. According to the release, Coben’s association with the NRG Board goes back 20 years when he was seated in 2003.
The release said that he helmed various affiliates of Tremisis Energy from 2003 to 2017.
NRG is also working on finding a permanent CEO, the release said.