NextEra Energy Inc. (NYS:NEE) on Tuesday named John Ketchum as chief executive officer reporting to its board of directors, after he previously worked for 19 years at the power company. The move is part of a planned leadership succession process, the company said. CEO Jim Robo will become executive chairman for a transition period, and the company expects Ketchum will also be appointed to the company's board of directors effective March 1. Ketchum's roles at the company include chief financial officer for three years. NextEra also said it swung to fourth-quarter net income of $1.2 billion, or 61 cents a share, from a loss of $5 million, or breakeven per share, in the year-ago quarter. Adjusted earnings rose to 41 cents a share from 40 cents a share. Revenue rose to $5.05 billion from just under $4.4 billion. Analysts expected earnings of 39 cents a share, according to a FactSet survey. NextEra said it expects adjusted 2022 earnings of $2.75 to $2.85 a share, compared to the analyst estimate of $2.75 a share. Shares of NextEra fell 3.8% in premarket trades.
Jan. 25, 2022, 8:07 a.m. EST