RRI Operating Chief Resigns, Office of CEO Created

RRI Energy Inc., the U.S. power producer that sold its retailing business this month, said Chief Operating Officer Brian Landrum and two senior vice presidents resigned in connection with a management restructuring.

Three executives -- Chief Financial Officer Rick Dobson, General Counsel Michael Jines and strategic-planning chief Rogers Herndon -- will comprise a newly created Office of the CEO, Houston-based RRI said today in a statement. Chief Executive Officer Mark Jacobs will lead the office in determining the company’s strategic direction.

Landrum and another executive who resigned, Charles Griffey, senior vice president for regulatory affairs, won’t be replaced, RRI said. Senior Vice President Suzanne Kupiec, chief risk and compliance officer, is resigning to spend time with her two young children, the company said. Jines will take over the role of chief compliance officer. Dobson will be chief risk officer until a replacement is found, RRI said.

“With the repositioning of RRI Energy as a stand-alone wholesale merchant generator, it is appropriate to adjust our management structure to ensure that we have the right people in the right roles to execute the company’s go-forward strategy,” Jacobs said in the statement.

The company completed its sale of the Houston area’s largest power-retailing business to NRG Energy Inc. (NRG) on May 1. Formerly known as Reliant Energy, the brand used in its retailing operation, RRI changed its name after the divestiture.

RRI rose 8 cents, or 1.5 percent, to $5.38 in New York Stock Exchange composite trading. Before today, the stock had plunged 79 percent in the past year.

To contact the reporter on this story: Tony Cox in Houston at acox3@bloomberg.net.

To contact the editor responsible for this story: Tony Cox at acox3@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.