Ousted NRG CEO David Crane to Join Pegasus Capital Advisors

  • Crane to serve as senior operating executive at company
  • Crane left NRG amid concerns about green energy business

Ousted NRG Energy Inc. Chief Executive Officer David Crane is joining private equity firm Pegasus Capital Advisors as senior operating executive.

Crane, 57, will help Pegasus with its investments in clean energy, said Pegasus Chief Executive Officer and founder Craig Cogut in a statement Friday.

“David has an excellent track record and has shown extraordinary vision in transforming businesses to meet the global challenges of the 21st Century,” Cogut said.

Crane’s new position comes four months after he was dismissed from NRG Energy. The power generator’s stock had tumbled more than 60 percent in the year leading up to his termination as investors grew impatient with the company’s money-losing home solar business. The unit was formed as part of Crane’s effort to steer the company toward clean energy investments.

Pegasus manages about $1.8 billion in assets.

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