Entergy Announces Key Leadership Changes

Published on Tuesday, 31 January 2012 07:16 Written by TradersHuddle Staff

NEW ORLEANS, Jan. 31, 2012 /PRNewswire/ -- Entergy Corporation (NYSE: ETR) today announced that Gary Taylor, group president of utility operations will be retiring from the company May 31, 2012. Taylor will continue to lead utility operations with a transition period to his successor, who will be named at a later date.

In addition, Robert (Bob) Sloan, executive vice president and general counsel announced his decision to retire as general counsel. Replacing Sloan is Marcus Brown, who was elected Jan. 27 by the company's board of directors to the position of senior vice president and general counsel. Brown reports to Rod West, executive vice president, and chief administrative officer. Sloan has agreed to serve as special counsel during a period of transition.

"Gary and Bob have been very clear in their desire to finish certain business, retire in good health and have an opportunity to focus on their many other personal and professional interests –opportunities that aren't always available in the 7-day-workweek world of today's corporate leaders," said J. Wayne Leonard, Entergy's chairman and chief executive officer.

Beyond their significant contributions to our business, Gary and Bob are both well known for their unselfish mentoring of others and for living the values fundamental to our company's success. They serve as shining examples of how we do business and value people," said Leonard. "We thank them both for all they have done for our company and its stakeholders. They will be missed but we wish them the best as they move on to the next phase of their lives."

Taylor has held leadership roles in both Entergy's nuclear and utility business. Prior to his current role of group president of utility operations, a role he has held since 2007, Taylor served as chief executive officer of Entergy's nuclear business. He joined the company in 2000 as chief operating officer of the company's Nuclear South region.

During his tenure with the company's nuclear business, Taylor brought safety and operational excellence to best-in-class among the company's peers, was instrumental in the company's acquisition of the Palisades nuclear power plant, and successfully integrated the company's utility and non-utility plants into one organization. His accomplishments leading utility operations were equally impressive as he focused on safety, operational discipline and excellence, commitment to our customers and delivering financial returns for shareholders. In addition, Taylor oversaw the company's restoration and recovery efforts during both hurricanes Gustav and Ike, the safest restoration from a major hurricane in company history.

"As we move toward MISO and also transition our transmission business to ITC Holdings Corp., an independent transmission organization, the time is right for me to hand the reins to the next generation of leadership," said Taylor. "I am honored to have had the opportunity to work alongside the many dedicated Entergy employees, who continue to strive to serve our customers and communities with passion and excellence. I am also proud we have returned the utility to a sound financial footing, with a real opportunity to earn its cost of capital."

Sloan joined Entergy in 2003 as senior vice president, general counsel and secretary, and brought with him more than 30 years of legal experience. Before joining the company, he was vice president and general counsel at GE Industrial Systems.

While in his role, Sloan reshaped the legal department to meet the changing needs of the company, developing more robust practice areas and adding key personnel –including in the environmental, labor, nuclear and federal regulatory fields –and implementing many new initiatives that enhanced the quality and efficiency of legal services.

"With the recent successful outcome of our lawsuit in federal court in Vermont, and the signing of the agreement to spin off our transmission business, the door has opened for me to transition to the pursuit of other personal and professional interests. I will leave the company with fond memories, a sense of satisfaction about the progress the company has made in a number of areas and real excitement around opportunities that lie ahead," said Sloan. "I have great confidence in my successor, with whom I have worked very closely since 2003."

Brown brings to his new role deep experience, a stellar career in private practice and an impressive 17 year career with the company. Formerly vice president and deputy general counsel for Entergy, Brown began his career with Entergy in 1995. He quickly distinguished himself as a litigator and advisor and, most recently, led the Entergy systemwide litigation group. Following hurricanes Katrina and Rita, Brown led efforts to recover more than $500 million that was critical to rebuilding the electric and gas infrastructure of the Entergy utility system and allowing for Entergy New Orleans Inc.'s successful emergence from bankruptcy. Recently, he led the Entergy legal team's successful challenge to several Vermont statutes impacting the future operations of the Vermont Yankee nuclear plant. Brown is also a member of the Legal Department's Management Committee.

Brown earned a Juris Doctorate from Southern University Law Center in 1988; where he was a member of the Law Review, an MBA from Tulane University in 2002, and, in 2009, received a certification in corporate governance from Harvard Business School.

Entergy Corporation is an integrated energy company engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, and it is the second-largest nuclear generator in the United States. Entergy delivers electricity to 2.8 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of more than $11 billion and approximately 15,000 employees.

Additional information can be accessed online at

www.entergy.com.

SOURCE Entergy Corporation