An update on CPS Energy CEO succession process

I wanted to take this opportunity to provide an update to the community on our discussion today regarding the CPS Energy CEO succession process. Over the last few weeks we have made significant progress, and our search firm has presented us with a strong slate of candidates. Additionally, during our last board meeting, we requested that our CEO, Doyle Beneby remain on for another month, and voted to designate CFO Paula Gold-Williams as our interim CEO upon his departure.

As you know, Doyle submitted his resignation to the board a couple of months ago. What you may not know is that the board has never stopped pursuing Doyle, and our efforts to retain him have been relentless. During today’s special session of the CPS Energy Board of Trustees, we discussed a proposal for Doyle Beneby to continue his employment with CPS Energy as CEO. Understanding that Doyle has a very attractive opportunity to join an international renewable company, our proposal would allow him the opportunity to play a non-CEO, advisory role in their future.

If Doyle elects to stay, the board will take formal action later this month. I, along with the entire Board, am eager to hear back from Doyle soon on our proposal.

At the end of the day, we know that Doyle is the best and most qualified candidate to lead CPS Energy, and the recent outpouring of community support and recognition of his accomplishments would support that. Doyle’s vision, strategy and execution track record are undeniable. He has launched CPS Energy on an outstanding trajectory, and is exactly what we need as we enter our next chapter, which I am confident will be even more impactful and exciting than our last. I know I speak for the board when I say that continuing the amazing momentum that he and the hard-working employees of CPS Energy have created during the past five years has been our top priority.