NextEra CFO Pimentel Named CEO of Energy Resources Unit

NextEra Energy Inc. (NEE) named Armando Pimentel as president and chief executive officer of its NextEra Energy Resources unit. The unit is the largest wind-energy producer in the U.S.

Pimentel was previously the Juno Beach, Florida-based company’s chief financial officer and replaces Mitch Davidson, who is leaving NextEra. Moray Dewhurst was named CFO and will remain vice chairman and chief of staff, NextEra said in a statement. All the management changes are effective today.

NextEra said in a filing it expects 2011 earnings, excluding certain items, to be “toward the low end” of its previously announced range of $4.35 to $4.65 a share. The company was down 6 cents to $52.98 at 10:05 a.m. in New York Stock Exchange composite trading.

The company said last week that it would purchase, with General Electric Co., a 550-megawatt solar project in Riverside County, California from First Solar Inc.

To contact the reporter on this story: Zachary Tracer in New York at ztracer1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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