Lewis Hay III, Executive Chairman of Next Era Energy, to Become Clayton
Dubilier & Rice Advisor
NEW YORK, Oct. 3, 2013
NEW YORK, Oct. 3, 2013 /PRNewswire/ -- Clayton, Dubilier & Rice ("CD&R") today
announced the appointment of Lewis Hay III as an Operating Advisor effective
January 2014. Mr. Hay is the Executive Chairman and former Chairman, President
and Chief Executive Officer of NextEra Energy, Inc. (NYSE: NEE), a leading
clean-energy company with 2012 consolidated revenues of approximately $14.3
billion and nearly 15,000 employees across 26 states and Canada. Mr. Hay will
assist CD&R in a range of activities, including sourcing transactions,
evaluating investment opportunities and advising portfolio company management
"Lew is a proven business builder whose leadership record is one of delivering
strong and sustainable financial and operating performance," said Donald J.
Gogel, Chairman and Chief Executive Officer of CD&R. "Lew's entrepreneurial
management style and industry expertise will be a valuable complement to the
Firm's existing operating capabilities."
Under Mr. Hay's leadership, NextEra Energy, whose principal subsidiaries are
Florida Power & Light Company, one of the largest electric utilities in the
nation, and NextEra Energy Resources, the largest generator of renewable
energy in North America, was consistently named number one in its industry on
Fortune Magazine's list of the world's Most Admired Companies. During his
tenure, NextEra Energy more than doubled its operating income, more than
tripled its market capitalization, and consistently outperformed the S&P 500
and S&P Utilities Index.
Mr. Hay first joined NextEra Energy in August 1999 as Chief Financial
Officer. In 2001, he was elected President and Chief Executive Officer, and
in 2002, named Chairman of the Board. Mr. Hay served as Chairman, President
and Chief Executive Officer until 2012 when he was appointed Executive
Chairman. Concurrently, Mr. Hay served in board- and C-suite-level positions
at NextEra Energy Resources and Florida Power & Light Company.
"I very much look forward to working with the CD&R team" said Mr. Hay. "I
share CD&R's value creation philosophy, which is based on spurring businesses
to become operationally stronger, more customer focused and more effective
Mr. Hay is a Director and past Chairman of both the Edison Electric Institute
and the Institute of Nuclear Power Operations, and also serves as a director
of the Nuclear Energy Institute. In addition, he serves on the boards of
Capital One Financial Corporation, Harris Corp., and WellPoint, Inc., and is a
member of the Business Board of Advisors at Carnegie Mellon University's
Tepper School of Business and the Presidential Consultation Committee of
Carnegie Mellon's Energy Futures Institute. In 2011 and 2012, Mr. Hay served
on the President's Council on Jobs and Competitiveness.
In 2010, Mr. Hay was presented with Ernst & Young's "Florida Lifetime
Achievement Award," and in 2011, was named "CEO of the Year" by Energy Biz
Magazine. Mr. Hay earned a bachelor of science degree in electrical
engineering from Lehigh University and a master of science in industrial
administration from Carnegie Mellon University.
About Clayton, Dubilier & Rice
Founded in 1978, Clayton, Dubilier & Rice is a private equity firm with an
investment strategy predicated on producing financial returns through building
stronger, more profitable businesses. Since inception, CD&R has managed the
investment of more than $18 billion in 56 businesses representing a broad
range of industries with an aggregate transaction value of approximately $90
billion. The Firm has offices in New York and London. For more information,
please visit www.cdr-inc.com.
Daniel G. Jacobs
+1 (212) 407 5218
+1 (212) 232 2222
SOURCE Clayton, Dubilier & Rice
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