- Push-out Score determined
- After around 14 years in the position
- Accolades and praise for Rowe
- Brian Bird taking over
- Rowe spoke at length and said 167 words
(exechange) — Butte, Montana & Sioux Falls, South Dakota, July 28, 2022 — Bob Rowe, chief executive of NorthWestern Energy, leaves. As announced by NorthWestern Corp. in a news release and in a regulatory filing published on Thursday, July 28, 2022, Robert C. (Bob) Rowe leaves his post as chief executive officer at the provider of energy infrastructure, doing business as NorthWestern Energy, after around 14 years in the role, effective December 31, 2022.
Bob Rowe’s duties as CEO will be taken over by Brian B. Bird, currently president and chief operating officer at NorthWestern Corp.
“A successful transition that is well underway”
Bob Rowe’s departure from the CEO post is explained as follows. Rowe said: “We have a solid foundation for what is already a successful transition that is well underway.”
Precise information regarding Bob Rowe’s future plans was not immediately available.
NorthWestern Energy said: “Bob Rowe will retire as chief executive officer and a member of NorthWestern Energy’s board of directors at the end of 2022.”
NorthWestern Energy further said: “Robert C. Rowe, the Chief Executive Officer (CEO) of NorthWestern Corporation d/b/a NorthWestern Energy (Nasdaq: NWE) (NorthWestern) and member of NorthWestern’s Board of Directors (the Board), announced his plans to retire from his positions as CEO of NorthWestern and a member of the Board at the end of 2022, after 14 years of service with NorthWestern, all as CEO.”
“Not related to its operational performance or financial condition”
“This leadership transition is part of NorthWestern’s executive succession planning process and is not related to its operational performance or financial condition,” NorthWestern Energy said.
Share price decline since July 2017
The announcement follows a decline in NorthWestern Corp.’s share price of 10% since July 2017.
In the position of CEO since 2008
Bob Rowe became CEO of the Company in 2008.
For the remainder of 2022, Rowe will continue to work closely with Bird in support of a smooth transition, which began in February 2021 when the board approved a modification to the executive leadership team that named Bird president and chief operating officer.
Rowe is the Chief Executive Officer of NorthWestern Corporation (since August 2008).
From 2008 to 2021, Rowe also served as President of NorthWestern Corporation. Prior to that he was co-founder and senior partner at Balhoff, Rowe & Williams, LLC, a specialized national professional services firm providing financial and regulatory advice to clients in the telecommunications and energy industries (January 2005−August 2008).
He also previously served as commissioner (1993-2002) and chair (2003-04) of the Montana Public Service Commission. Rowe serves on the Board of Directors and Executive Committee of the Edison Electric Institute; the Board of Directors and Executive Committee of the American Gas Association; the Board of Directors and Executive Committee of the Western Energy Institute; the Yellowstone Forever Board of Directors (the official non-profit partner to Yellowstone National Park), the University of Montana Foundation Board of Directors; the Jack Creek Preserve Board of Directors; and, the Health Care Services Corporation Montana Advisory Board (Blue Cross Blue Shield of Montana).
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Bob Rowe’s move on a scale of 0 to 10.
exechange reached out to NorthWestern Energy and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 31.2022 ($).