Deals
Dynegy to Replace CEO, Board After $665 Million Bid Fails
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Dynegy Inc., the third-largest U.S. independent power producer, will replace its chief executive officer and all its board after shareholders rejected Icahn Enterprises LP’s $665 million offer.
Bruce Williamson, 51, has resigned as chairman and will step down as CEO effective March 11, Dynegy said yesterday in a statement. Patricia A. Hammick, 64, who headed a board of independent directors reviewing the Icahn bid, succeeds Williamson as chairman, the company said. Board member David Biegler, 64, will become interim CEO. Chief Financial Officer Holli Nichols, 40, also will resign as of March 11.