NRG Yield Inc., the yieldco founded by NRG Energy Inc., named Christopher Sotos president and chief executive officer effective Friday. He will replace interim CEO Mauricio Gutierrez.

Sotos has been on NRG Yield’s board of directors since its initial public offering in July 2013 and most recently served as NRG Energy’s head of strategy and mergers and acquisitions. He will work solely for NRG Yield, the company said in a statement Thursday. NRG Energy created the yieldco to buy operating power and renewable-energy plants.

Gutierrez, NRG Energy’s CEO, will become NRG Yield’s chairman of the board. He assumed the interim president and CEO position in early December.

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