We’ve detected a problem with your browser settings.
It’s possible that you don't have javascript enabled in your browser. Please enable javascript in your browser settings to successfully view our site.

CenterPoint Energy Announces Leadership Transition

- Current Director John W. Somerhalder II appointed interim President and Chief Executive Officer, succeeding prior President and Chief Executive Officer Scott M. Prochazka

2020-02-20T06:00:00Z

HOUSTON, Feb. 19, 2020 - CenterPoint Energy, Inc. (NYSE: CNP) today announced that its board of directors has appointed John W. Somerhalder II as interim President and Chief Executive Officer to succeed Scott M. Prochazka, who has stepped down as President and Chief Executive Officer, and as a member of the board of directors.

CenterPoint Energy logo. (PRNewsFoto)

Mr. Somerhalder is a 40-year energy industry veteran, including as Chief Executive and a Director of AGL Resources Inc., a natural gas utility. He has served as a Director of CenterPoint Energy, Inc. since 2016 and also serves as Director and Trustee on the boards of numerous non-profit organizations. The company has commenced a process to identify a permanent CEO and has formed a sub-committee of the board to support the selection process. These changes are effective immediately.

Milton Carroll, Executive Chairman, said, "On behalf of the board of directors and CenterPoint Energy's employees, I would like to thank Scott for his meaningful contributions to the company during his distinguished career. Scott led CenterPoint Energy through significant growth and transformation and, under his leadership, we made progress in our journey to achieve our vision to lead the nation in delivering energy, service, and value."

Mr. Carroll added, "The board has determined that now is the right time for a new leader with a fresh strategic perspective to lead the company though its next phase of growth and value creation. We are fortunate to have found in John an outstanding energy industry executive with vast utility experience and the skills to ensure that we continue our momentum during the search process."

Mr. Somerhalder said, "I am privileged to step in and lead this company and its talented employees to ensure that we remain focused on meeting our commitments. As interim President and CEO, I am intent on delivering strong performance, continuous dividend growth, and a strengthened balance sheet, while enhancing our business risk profile, earnings quality, and earnings growth for the benefit of our stakeholders."

Mr. Somerhalder added, "Our Chief Financial Officer Xia Liu and I look forward to discussing our strong 2019 performance, as well as providing our 2020 EPS guidance and utility EPS growth target during our upcoming earnings call on February 27. I also look forward to working alongside the leadership team in the exciting next phase of the company's future."

About John W. Somerhalder II

John W. Somerhalder II has been a Director of CenterPoint Energy, Inc. since October 2016. Mr. Somerhalder is a private investor. He most recently served as Interim President and Chief Executive Officer of Colonial Pipeline Company, a privately held company that operates a refined liquid petroleum products pipeline system, from February 2017 to October 2017. Prior to joining Colonial Pipeline Company, Mr. Somerhalder served as President, Chief Executive Officer and as a director of AGL Resources Inc., a former publicly traded energy services holding company, which was acquired by Southern Company, whose principal business is the distribution of natural gas, from March 2006 through December 2015 and as Chairman of the Board of AGL Resources Inc. from November 2007 through December 2015. Prior to joining AGL Resources Inc., he served in a number of roles with El Paso Corporation, a publicly traded natural gas and related energy products provider, and its subsidiaries since 1977, including as Executive Vice President, and as President of El Paso Pipeline Group. He has served as a director of Crestwood Equity GP LLC, the general partner of Crestwood Equity Partners LP, and he served as a director of SunCoke Energy Partners, L.P. from 2017 to July 2019. He currently serves as director and trustee on the boards of numerous non-profit organizations.

About CenterPoint Energy, Inc.

Headquartered in Houston, Texas, CenterPoint Energy, Inc. is an energy delivery company with regulated utility businesses in eight states and a competitive energy businesses footprint in nearly 40 states. Through its electric transmission & distribution, power generation and natural gas distribution businesses, the company serves more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma, and Texas. CenterPoint Energy's competitive energy businesses include natural gas marketing and energy-related services; energy efficiency, sustainability and infrastructure modernization solutions; and construction and repair services for pipeline systems, primarily natural gas. The company also owns 53.7 percent of the common units representing limited partner interests in Enable Midstream Partners, LP, a publicly traded master limited partnership that owns, operates and develops strategically located natural gas and crude oil infrastructure assets. With approximately 14,000 employees and approximately $35 billion in assets, CenterPoint Energy, Inc. and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release regarding future earnings, and future financial performance and results of operations, including, but not limited to earnings guidance, targeted dividend growth rate and any other statements that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release speaks only as of the date of this release.

For more information contact
Media:
Alicia Dixon
Phone 713.207.5885
Investors:
Dave Mordy
Phone 713.207.6500

SOURCE CenterPoint Energy, Inc.

Recent News

CenterPoint Energy encourages customers to accelerate their energy efficiency journey through the Home Energy Squad®

Minneapolis – March 27, 2025 – CenterPoint Energy is encouraging Minnesota customers to spring into their energy efficiency journey with the Home Energy Squad^®. This home energy assessment program provides a personalized energy savings plan with recommendations to reduce energy waste.

Launched in 2010, the Home Energy Squad^® is provided by CenterPoint and Xcel Energy to Minnesota residential customers, including both homeowners and renters. Energy assessments may be discounted or free for customers who qualify. In 2025 alone, more than 1,000 home energy assessments have been completed for Minnesotans throughout the communities CenterPoint serves.

“At CenterPoint, we have a variety of tips, tools and programs to help customers save energy and manage their bills, and the Home Energy Squad® is just one of the many opportunities to boost the energy efficiency of their homes," said Natalie Hedde, CenterPoint's Vice President, Strategic Business Growth and Engagement. “By participating in our energy efficiency programs, customers can make a big difference in cutting energy waste, reducing monthly energy bills and lowering their carbon footprint."

During an assessment, an efficiency expert will identify areas of energy waste and install energy-saving measures such as LED lightbulbs and programmable thermostats, perform appliance and heating system safety checks and assess water heater efficiency. The expert can also connect customers to rebates, helping them upgrade to more efficient appliances and equipment, weatherization programs for air sealing and insulation and with qualified contractors.

Customer participation in CenterPoint's Minnesota energy efficiency programs has reduced carbon emissions by nearly 16.5 million metric tons over the last 29 years, equivalent to removing more than four million cars from the road, and saved customers approximately $2.6 billion.

CenterPoint is Minnesota's largest natural gas utility, serving more than 930,000 residential and business customers in over 260 communities.

For more information on the Home Energy Squad^® and company energy efficiency programs, visit CenterPointEnergy.com/HomeEnergySquad.

As spring begins, CenterPoint Energy continues progress toward strengthening the grid across the Greater Houston area and shares tips to help customers stay safe while saving energy and money

Houston – March 20, 2025 – With today marking the start of spring, CenterPoint Energy is continuing to strengthen the resiliency of the grid in key areas ahead of the 2025 hurricane season. To date, the company has completed more than 50 percent of several near-term critical resiliency actions and grid improvements outlined in the second phase of its Greater Houston Resiliency Initiative (GHRI), including installing stronger poles, adding more automation devices, undergrounding power lines and trimming hazardous vegetation.

As the company works to complete these steps before the start of hurricane season on June 1, CenterPoint is also helping customers prepare for the warmer weather ahead by sharing tools, easy-to-implement tips and resources to improve the energy efficiency of their homes, and staying safe as they complete projects around their homes.

“Our team remains fully focused on executing our historic effort to strengthen the grid and improve resiliency and reliability. As CenterPoint prepares for hurricane season, we want to remind customers of ways they can prepare, too. The first day of spring serves as a great reminder that warmer temperatures are coming. We encourage our customers to take steps to increase the energy efficiency of their homes so that they can continue to stay comfortable inside year-round while also reducing their energy use," said Tony Gardner, Senior Vice President and Chief Customer Officer at CenterPoint, "We also want to remind customers to keep safety top of mind by taking the time to contact 811 prior to starting any digging projects near their home. By taking this easy step, our customers and community members are taking a critical first step in helping keep themselves, their loved ones and neighbors safe."

Tips, tools and resources for customers to spring into energy and cost savings

Customers can do the following to help spring into energy and cost savings:

Do a spring cleaning by changing or cleaning the filters in HVAC systems: Air conditioning can represent approximately 50 percent of a home's energy use as outside temperatures increase. Regular maintenance is one of the best ways to extend the life of a home's system, so swap out or clean filters to minimize costly repairs and to keep the system running efficiently.
Maintain a comfortable temperature indoors year-round: To save energy and reduce cooling costs, use weatherstripping or caulk areas in and around a home where cooled air may escape such as around windows and doors or where warm air could enter.
Block the sun's rays during warmer days: When temperatures increase outside, keep window coverings closed when the sun is shining brightest to maintain a more comfortable indoor temperature.
Save hot water while maintaining comfort: Showering accounts for 40 percent of a home's hot water use, so energy-saving showerheads and faucet aerators can help lower energy costs and reduce hot water use without sacrificing comfort.

Upgrade to more energy efficient appliances and equipment: When replacing appliances and equipment, look for ENERGY STAR®-certified products for increased energy efficiency and cost savings over time. Energy efficiency rebates may be available for qualifying appliances.

Customers can learn more about energy savings tips and tools that help them prepare for the longer and warmer days in addition to ways to manage their monthly energy bills at CenterPointEnergy.com/SavingsTips.

GHRI Progress Milestone: More than 50% complete on several key metrics
On Sept. 30, CenterPoint announced the launch of Phase Two of the GHRI, which will strengthen the grid in advance of hurricane season, included a series of actions to strengthen resiliency, enable a self-healing power system and reduce the duration and impact of power outages. In February alone, the company made progress in key areas including:

Installed approximately 2,900 stronger, more storm-resilient poles built to withstand extreme winds;
Cleared another 417 miles of high-risk vegetation near power lines to reduce storm-related outages; and
Installed an additional 1,334 automated reliability devices to reduce the impact of outages and improve restoration times; and
Undergrounded 47 more miles of power lines to reduce the impact of extreme weather.

The resiliency actions outlined in GHRI Phase Two are expected to lead to more than 125 million fewer outage minutes annually for customers. Through early March, the company has made significant advances across its Greater Houston service area and is on track to complete its work before the start of hurricane season.

CenterPoint will continue to provide updates on its progress toward completing its critical resiliency actions and other GHRI commitments. More information and real-time updates are available at CenterPointEnergy.com/TakingAction.

Electric customers encouraged to enroll in Power Alert Service ®

In addition to reducing energy use and improving efficiency, customers are encouraged to enroll in CenterPoint Energy's Power Alert Service® to receive outage details, estimated restoration times (as available or determined) and customer-specific restoration updates in the event of a power outage. With the option to receive updates via phone call, text or email, Power Alert Service® keeps customers informed of restoration progress during an outage.

Call before you dig

Spring is a great time to begin outdoor home improvement projects. Anyone planning a project that requires digging should contact 811 at least two days prior to starting work to have underground utilities located and marked at no cost. This includes projects done by customers or their contractors, including building a fence, planting trees, installing a deck, placing a mailbox or laying a patio.

Visit 811BeforeYouDig.com to learn more about 811 and the process to have underground utility lines located and marked. For more information about natural gas safety, visit CenterPointEnergy.com/Safety.

With the start of spring, CenterPoint Energy reminds customers of tips and available resources to save energy, manage bills and stay safe

Dayton – March 20, 2025 – With today marking the start of spring, CenterPoint Energy encourages customers to leverage tools, tips and resources as part of their spring cleaning and preparation. Customers can unlock energy savings through a combination of easy-to-implement tips, remain connected to company programs and stay safe as they complete projects around their homes.

“At CenterPoint, we have tips, tools and programs to help customers save energy and manage their bills. The first day of spring serves as a great reminder that warmer temperatures are approaching, and we encourage our customers to take steps to increase the energy efficiency of their homes so that they can continue to stay comfortable inside year-round while also reducing their energy use. By taking small and easy actions, customers can make a big difference in reducing their monthly energy bills," said Tony Gardner, Senior Vice President and Chief Customer Officer at CenterPoint. “We also want to remind customers to keep safety top of mind by taking the time to contact 811 prior to starting any digging projects near their home. By taking this easy step, our customers and community members are taking a critical first step in helping keep themselves, their loved ones and neighbors safe."

Tips, tools and resources for customers to spring into energy and cost savings

Customers can do the following to help spring into energy and cost savings:

Perform a spring cleaning by changing or cleaning the filters in HVAC systems: Air conditioning can represent approximately 50 percent of a home's energy use as outside temperatures increase. Regular maintenance is one of the best ways to extend the life of a home's system, so swap out or clean filters to minimize costly repairs and keep the system running efficiently.
Maintain a comfortable temperature indoors year-round: To save energy and reduce cooling costs, use weatherstripping or caulk areas in and around a home where cooled air may escape, such as around windows and doors or where warm air could enter.
Block the sun's rays during warmer days: When temperatures increase outside, keep window coverings closed when the sun is shining brightest to maintain a more comfortable indoor temperature.
Save hot water while maintaining comfort: Showering accounts for 40 percent of a home's hot water use. Energy-saving showerheads and faucet aerators can help lower energy costs and reduce hot water use without sacrificing comfort.

Call before you dig

Spring is a great time to begin outdoor home improvement projects. Anyone planning a project that requires digging should contact 811 at least two days prior to starting work to have underground utilities located and marked at no cost. This includes projects done by customers or their contractors, including building a fence, planting trees, installing a deck, placing a mailbox or laying a patio.

With the start of spring, CenterPoint Energy reminds customers of tips and available resources to save energy, manage bills and stay safe

Minneapolis – March 20, 2025 – With today marking the start of spring, CenterPoint Energy encourages customers to leverage tools, tips and resources as part of their spring cleaning and preparation. Customers can unlock energy savings through a combination of easy-to-implement tips, remain connected to company programs and stay safe as they complete projects around their homes.

Tips, tools and resources for customers to spring into energy and cost savings

Customers can do the following to help spring into energy and cost savings:

Perform a spring cleaning by changing or cleaning the filters in HVAC systems: Air conditioning can represent approximately 50 percent of a home's energy use as outside temperatures increase. Regular maintenance is one of the best ways to extend the life of a home's system, so swap out or clean filters to minimize costly repairs and keep the system running efficiently.
Maintain a comfortable temperature indoors year-round: To save energy and reduce cooling costs, use weatherstripping or caulk areas in and around a home where cooled air may escape, such as around windows and doors or where warm air could enter.
Block the sun's rays during warmer days: When temperatures increase outside, keep window coverings closed when the sun is shining brightest to maintain a more comfortable indoor temperature.
Save hot water while maintaining comfort: Showering accounts for 40 percent of a home's hot water use. Energy-saving showerheads and faucet aerators can help lower energy costs and reduce hot water use without sacrificing comfort.
Upgrade to more energy efficient appliances and equipment: When replacing appliances and equipment, look for ENERGY STAR®-certified products for increased energy efficiency and cost savings over time. Energy efficiency rebates may be available for qualifying appliances.

Call before you dig

With the start of spring, CenterPoint Energy reminds customers of tips and available resources to save energy, manage bills and stay safe

Evansville, Ind. – March 20, 2025 – With today marking the start of spring, CenterPoint Energy encourages customers to leverage tools, tips and resources as part of their spring cleaning and preparation. Customers can unlock energy savings through a combination of easy-to-implement tips, remain connected to company programs and stay safe as they complete projects around their homes.

Tips, tools and resources for customers to spring into energy and cost savings

Customers can do the following to help spring into energy and cost savings:

Perform a spring cleaning by changing or cleaning the filters in HVAC systems: Air conditioning can represent approximately 50 percent of a home's energy use as outside temperatures increase. Regular maintenance is one of the best ways to extend the life of a home's system, so swap out or clean filters to minimize costly repairs and keep the system running efficiently.
Maintain a comfortable temperature indoors year-round: To save energy and reduce cooling costs, use weatherstripping or caulk areas in and around a home where cooled air may escape, such as around windows and doors or where warm air could enter.
Block the sun's rays during warmer days: When temperatures increase outside, keep window coverings closed when the sun is shining brightest to maintain a more comfortable indoor temperature.
Save hot water while maintaining comfort: Showering accounts for 40 percent of a home's hot water use. Energy-saving showerheads and faucet aerators can help lower energy costs and reduce hot water use without sacrificing comfort.
Upgrade to more energy efficient appliances and equipment: When replacing appliances and equipment, look for ENERGY STAR®-certified products for increased energy efficiency and cost savings over time. Energy efficiency rebates may be available for qualifying appliances.

Electric customers encouraged to enroll in Power Alert Service®

In addition to reducing energy use and improving efficiency, customers are encouraged to enroll in CenterPoint Energy's Power Alert Service® to receive outage details, estimated restoration times (as available or determined) and customer-specific restoration updates in the event of a power outage. With the option to receive updates via phone call, text or email, Power Alert Service® keeps customers informed of restoration progress during an outage.

Call before you dig