Bloomberg News

NextEra CFO Pimentel Named CEO of Energy Resources Unit

October 05, 2011

(Updates with earnings guidance in third paragraph.)

Oct. 5 (Bloomberg) -- NextEra Energy Inc. named Armando Pimentel as president and chief executive officer of its NextEra Energy Resources unit. The unit is the largest wind-energy producer in the U.S.

Pimentel was previously the Juno Beach, Florida-based company’s chief financial officer and replaces Mitch Davidson, who is leaving NextEra. Moray Dewhurst was named CFO and will remain vice chairman and chief of staff, NextEra said in a statement. All the management changes are effective today.

NextEra said in a filing it expects 2011 earnings, excluding certain items, to be “toward the low end” of its previously announced range of $4.35 to $4.65 a share. The company was down 6 cents to $52.98 at 10:05 a.m. in New York Stock Exchange composite trading.

The company said last week that it would purchase, with General Electric Co., a 550-megawatt solar project in Riverside County, California from First Solar Inc.

--Editors: Will Wade, Randall Hackley

To contact the reporter on this story: Zachary Tracer in New York at ztracer1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net


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