NRG appoints a permanent CEO
In August of 2024, Dr. Larry Coben was appointed President and Chief Executive Officer, while continuing to serve as Chairman of the Board. This decision was informed by various factors, including his long tenure with the company and the Board, his in-depth knowledge of NRG's operations, and the strength of NRG's current governance structure. Before his permanent appointment, he served on the board since 2003 and as Interim Chief Executive Officer since November 20, 2023.
"Given Larry's deep understanding of our industry and NRG's differentiation at the intersection of energy and smart home technology, we are confident that under Larry's stewardship, NRG will fully capitalize on the expected demand growth and evolving needs of our customers."
Lisa Donohue
Chair of the NRG Board's CEO Search Committee
"I am excited about the future of NRG and honored to lead our talented team going forward. Our industry is experiencing tremendous growth and I'm confident in NRG's ability to build on our opportunities and power modern life."
Larry Coben
President and CEO
NRG's Board of Directors
Leading with knowledge and integrity
Our Board of Directors is dedicated to maintaining the ethical integrity of our company, and we are proud of its contributions to our evolution and growth. Along with management, the Board is responsible for establishing our operating values and sets our strategic direction and priorities.
The Board is currently composed of eleven directors, all of whom are independent except for our CEO. In August 2024, Antonio Carrillo was appointed as Lead Independent Director. This role was created to complement the Chairman position, with Dr. Coben focusing on the day-to-day operations and strategy. At the same time, Mr. Carrillo serves as principal liaison for the Board.
Meet the Executive Management team
The Board is comprised of directors with a range of skills, experiences, and backgrounds that complement NRG's strategic direction. This variety of viewpoints and experiences is crucial to NRG's success and supports our vision to transform the customer experience by delivering the best energy and smart home products and services.
Acting with integrity
At NRG, we care about doing the right thing — every day. We are committed to acting ethically and transparently, and we understand the importance of preserving trust.
Our Employee Code of Conduct applies to all directors, officers, and employees and guides our day-to-day choices. The Code ensures that we build — and protect — our reputation by providing clear guidance on matters like:
- Competition and fair dealing
- Confidentiality
- Conflicts of interest
- Corporate opportunities
- Protection and proper use of assets
- Recordkeeping
- Reporting illegal or unethical behavior
- Compliance procedures
By adhering to the Code, we live our values and ensure that NRG continues to be recognized for modeling integrity and ethical behavior.
Our progress
Each year, all employees are required to complete a Code of Conduct training and attest that they will comply with the Code.
In November 2024, NRG also hosted our first-ever enterprise-wide Compliance Week with the theme "The Power of One." During Compliance Week, employees learned more about what the Compliance team does and how we have the power to make an impact, individually and collectively.
Additionally, an Ethics & Compliance Culture Survey was sent to all regular, full-time employees, resulting in a score between a 4.0 – 4.4 out of 5, scoring at or above the industry benchmark in all areas.
"Leadership modeling" and "Trust" stood out as NRG's greatest strengths, with average scoring at or greater than 85% favorability. NRG also received high marks in how the organization communicates expectations for ethical behavior and conduct.
This dedication to ethical conduct is a crucial part of NRG's culture, corporate values, and how the organization goes to market.
Championing consumer choice
NRG participates in the political process to advocate for competitive energy markets and consumer choice, as well as the interests of our stockholders, employees, customers, and other stakeholders.
In a competitive energy market, we empower consumers to shop for electricity or natural gas just like they do for cell phones, credit cards, or internet plans. Open energy markets drive competition, resulting in tangible benefits to consumers like stronger direct-to-consumer relationships, innovative product and service offerings, and more cost-effective rates.
Our progress
In January 2024, Lubbock, TX opened its retail energy market and consumers gained the freedom to choose their retail electricity provider. Having the flexibility to shop for plans, pricing, and services from a variety of retailers empowers customers to take control of their electricity experience.
For many customers, their first priority is ensuring that the lights stay on, and operations stay powered, but with choice, energy can do so much more. We continue to see demand for cost-competitive, clean energy options. Customers are looking for sustainable, reliable, and efficient energy and with this shift in Lubbock, now they can choose the provider that best meets their goals.
Read more about our policy principles.
