- After about three and a half years in the position
- Praise and thanks for Lesar
- Jason Wells taking over
- Lesar said 102 words
(exechange) — Houston, Texas, October 26, 2023 — Dave Lesar, chief executive of CenterPoint, leaves his position. As announced by CenterPoint Energy Inc. in a news release and in a regulatory filing published on Thursday, October 26, 2023, David J. (Dave) Lesar leaves his post as chief executive officer at the electric and gas utility, after about three and a half years in the role, effective January 5, 2024.
Dave Lesar’s duties as CEO will be taken over by Jason P. Wells, currently President and Chief Operating Officer at CenterPoint Energy Inc.
It is a generational change. Jason Wells is about 24 years younger than Dave Lesar.
“Longstanding and robust leadership succession planning”
The management change is explained as follows. Earl M. Cummings, Chair of the Board, stated: “Today’s announcement reflects the Board’s longstanding and robust leadership succession planning and stakeholder engagement process.”
Precise information regarding Dave Lesar’s future plans was not immediately available.
CenterPoint said: “The Board has unanimously appointed Jason P. Wells, CenterPoint Energy President and Chief Operating Officer, to become President and Chief Executive Officer and a member of the Board of Directors, effective January 5, 2024. David J. Lesar will retire from his role as CEO and a member of the Board at that time. Mr. Lesar will continue to work closely with Mr. Wells to support a seamless transition.”
“Not the result of any disagreement”
CenterPoint stated, regarding the change: “The retirement of Mr. Lesar from CenterPoint Energy is not the result of any disagreement with CenterPoint Energy on any matter relating to CenterPoint Energy’s operations, policies and practices, including any matters concerning CenterPoint Energy’s controls or any financial or accounting-related matters or disclosures.”
Share price increase since July 2020
The announcement follows an increase in CenterPoint Energy Inc.’s share price of 43% since July 2020. July 2020 is the month in which Lesar’s tenure as CEO began.
In the position of CEO since 2020
Dave Lesar became CEO of the Company in 2020.
His bio reads as follows:
- Chief Executive Officer and Director (Jan. 2023 – Present); President, Chief Executive Officer and Director (July 2020 – Dec. 2022); and Director (May 2020 – June 2020) of CenterPoint Energy, Inc.
- Interim Chief Executive Officer (July 2019 – June 2020) of Health Care Services Corporation, the largest privately held health insurer in the United States
- Held various positions (1993 – 2018) of increasing responsibilities culminating in holding the position of Chairman and Chief Executive Officer (2000 – 2017) and Executive Chairman (2017 – 2018) of Halliburton Company
Other Boards (For Profit and Non-Profit Entities)
- Executive Chairman (2017 – 2018) and Chairman (2000 – 2017), Halliburton Company
- Agrium Inc. (2010 – 2015)
- Lyondell Chemical Co. (2000 – 2007)
- Mirant Corp. (2000 – 2005)
- Southern Co. (1999 – 2000)
- Cordant Technologies (1998 – 2000)
- Health Care Services Corporation (2018 – 2020)
Education and Credentials
- S., University of Wisconsin
- B.A., University of Wisconsin.
102 words by Dave Lesar
In the release announcing his departure as CEO of CenterPoint Energy Inc., Dave Lesar received praise and thanks.
In announcing his departure, Dave Lesar said 102 words.
“Jason is the best leader”
Dave Lesar stated: “It has been an honor and a privilege to lead CenterPoint Energy these past three-plus years and to work with our outstanding people to transform the company into the leader it is today. I am incredibly proud of the significant achievements we’ve accomplished together and the work we have done to make the pursuit of progress possible on our path to a premium market valuation. We have reached this momentous milestone after a rigorous and purposeful succession journey, and I am confident that Jason is the best leader to be at the helm of our company as it continues to move forward.”
Push-out Score for Dave Lesar’s move determined
The Push-out Score indicates on a scale of 0 to 10 how likely it is that Dave Lesar was pushed out or felt pressure to leave his position.
exechange reached out to CenterPoint and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 44.2023 ($).