NRG Energy CFO to step down

US-based wholesale power generation company NRG Energy has announced that its CFO, Robert Flexon, is leaving the company, effective November 2, 2009 to assume the position of president and CEO of Foster Wheeler USA, a subsidiary of engineering contractor Foster Wheeler. The company has named Gerald Luterman as interim CFO while the company conducts an internal and external search for a new CFO.

Mr Luterman, who currently sits on the NRG board of directors and its audit committee, served for eight years as CFO of KeySpan, a US-based gas distribution company, until it was acquired in 2007 by National Grid.

NRG expects Mr Luterman to serve as the CFO of NRG through the successful conclusion of the search process for a permanent replacement which is expected to last at least through the announcement of the company's full year 2009 financial results anticipated to be released in late February 2010.

David Crane, CEO of NRG Energy, said: "Bob has been, quite simply, pivotal to the success of NRG since we began through his careful stewardship of the NRG balance sheet and his relentless focus on achieving operating and financial excellence at NRG.

"A leader across the organization, a mentor to many, and a cherished colleague within our senior management team, personally and professionally, it has been my immense honor to work side-by-side with Bob for the past six years."

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