Reliant Energy, Inc. announced Thursday that Chairman and CEO Joel Staff will retire, effective as of the company’s 2007 annual meeting. Staff will remain on the board of directors as non-executive chairman.
Staff will be replaced by Mark Jacobs, currently serving as executive vice president and CFO. Jacobs will become president and CEO and a member of the board of directors at the annual meeting. Also at the meeting, Brian Landrum will become COO.
“Joel has done a fantastic job of transforming the company and building a culture focused on integrity,” said Lead Director Bill Barnett. “We are confident in Mark Jacobs’ ability to lead the company as its new CEO.”
Jacobs had been CFO since 2002. Prior to that, he served as managing director for Goldman, Sachs and Co.
Landrum had served in various senior general management positions since joining the company in 1999.
Staff has been chairman and CEO since April 2003 and a member of the board of directors since October 2002.
An executive search firm will help the company fill the vacant CFO position.