Evergy Appoints Kirkland B. Andrews Executive Vice President and Chief Money Officer
KANSAS City, Mo.–(Company WIRE)–Evergy, Inc. (NYSE: EVRG) today declared Kirk Andrews will come to be the company’s government vice president and chief financial officer, effective Feb. 22, 2021. Andrews fills the function currently held by Tony Somma, who declared his ideas to depart the corporation on January 8.
As chief monetary officer, Andrews will be liable for Evergy’s company monetary functions, such as treasury, accounting, scheduling, tax, funds allocation, and investor relations. Andrews will also oversee the company’s effectiveness administration, company enhancement and renewable strength growth things to do. Due to the fact March 2020, Andrews has been a member of the Evergy Board of Administrators. Andrews served as a member of the board’s Strategic Overview and Functions Committee, which worked with Evergy’s management workforce to craft the Sustainability Transformation System (STP) introduced in August 2020 following a in depth and impartial review of the company’s operations. Andrews will vacate his Evergy board place when he assumes his new management purpose.
“Kirk has a monitor report of superb management as a chief monetary officer and a prosperity of understanding and experience, together with in the spots of company transformation, efficiency administration and renewable electrical power method. As an Evergy board member, he performed an integral job in the development of our STP,” reported David Campbell, Evergy President and Main Executive Officer. “Kirk evidently stands out as the ideal human being for this function. I am pretty enthusiastic for Kirk to sign up for our government group and help us to successfully execute the STP and progress the pursuits of all stakeholders and the communities we serve.”
Andrews, 53, now serves as government vice president and main financial officer of NRG Electrical power, Inc. (“NRG”), a Fortune 500 built-in electric power company. Andrews’ concentration at NRG integrated formulating NRG’s monetary and money allocation tactics, executing the company’s portfolio and stability sheet restructuring, overseeing the financing system for renewable electrical power progress and the development of NRG Yield, and supporting to direct NRG’s corporate transformation, such as sizeable value and operational enhancements across the enterprise.
Andrews joined NRG as main fiscal officer in 2011 after a prosperous 15-year job in economic expert services. He served as Running Director and subsequently headed the North American Electrical power Investment decision Banking team at Citigroup Global Marketplaces. Later on, he served as Handling Director and co-head of Electric power and Utilities–Americas at Deutsche Financial institution. All through his banking profession, Andrews led quite a few huge and impressive strategic, credit card debt, equity and commodities transactions. He at present serves on the board of administrators for RPM Intercontinental (NYSE: RPM), a large-effectiveness coating, sealants and specialty chemical substances enterprise, wherever he is a member of the Audit Committee and earlier served as co-chair of the Running Improvement Committee.
“Over the past 12 months, I have experienced the opportunity to do the job closely with Evergy’s leadership workforce and board. I know firsthand that this is a organization making tremendous momentum guiding an energizing vision for the long term. I am energized to join Evergy’s management workforce to support convey this program to everyday living in a way that makes worth for all of Evergy’s vital stakeholders,” Andrews claimed. “The STP is a easy and really executable program, centered on charge management and financial commitment in infrastructure modernization and renewables, enabling the business to advance its critical goals of reliability, affordability, and sustainability.”
Sustainability Transformation Prepare
Evergy’s STP was declared in August 2020. The system honors prior regulatory and merger commitments designed in connection with Evergy’s development, when furthering the company’s target on grid modernization, renewable power expenditure and price management. Below the STP, Evergy plans ongoing charge willpower coupled with increased procedure financial investment to greatly enhance the shopper knowledge and increase technique resilience and dependability. These money investments are predicted to support 5% to 6% compounded yearly price base growth from 2019 to 2024, targeting EPS compounded yearly growth of 6% to 8% by 2024, dependable with top-accomplishing utilities.
About Evergy, Inc.
Evergy, Inc. (NYSE: EVRG) serves about 1.6 million consumers in Kansas and Missouri. We were shaped in 2018 when prolonged-expression area electrical power suppliers KCP&L and Westar Vitality merged. We are a leader in renewable energy, providing approximately fifty percent of the ability we supply to residences and enterprises from emission-cost-free generation. We support our local communities where by we are living and function and attempt to meet up with the desires of customers through strength discounts and progressive answers.
Cautionary Statements Relating to Particular Forward-searching Details
Statements made in this push release that are not based mostly on historical specifics are ahead-looking, may possibly require pitfalls and uncertainties, and are intended to be as of the day when produced. Forward-hunting statements include, but are not minimal to, statements relating to our strategic plan, together with, with no limitation, these relevant to earnings for every share, dividend, functioning and maintenance cost and cash investment decision aims the end result of legislative efforts and regulatory and legal proceedings long term power need future energy price ranges programs with regard to present and possible foreseeable future era resources the availability and price tag of era sources and electricity storage goal emissions reductions and other issues relating to anticipated economic effectiveness or influencing long term operations. Forward-seeking statements are usually accompanied by forward-looking phrases these kinds of as “anticipates,” “believes,” “expects,” “estimates,” “forecasts,” “should,” “could,” “may,” “seeks,” “intends,” “proposed,” “projects,” “planned,” “target,” “outlook,” “remain confident,” “goal,” “will” or other text of similar this means. Ahead-looking statements involve risks, uncertainties and other aspects that could bring about real results to differ materially from the ahead-looking data.
In connection with the protected harbor provisions of the Private Securities Litigation Reform Act of 1995, the Evergy, Inc., Evergy Kansas Central, Inc. and Evergy Metro, Inc. (collectively, the Evergy Businesses) are giving a variety of threats, uncertainties and other things that could result in actual outcomes to differ from the ahead-searching details. These challenges, uncertainties and other things include things like, but are not minimal to: economic and weather conditions problems and any impact on gross sales, rates and fees variations in business technique or functions the impression of federal, state and nearby political, legislative, judicial and regulatory steps or developments, like deregulation, re-regulation, securitization and restructuring of the electrical utility marketplace selections of regulators pertaining to, among other things, buyer rates and the prudency of operational decisions these kinds of as funds expenditures and asset retirements improvements in relevant legislation, rules, guidelines, ideas or practices, or the interpretations thereof, governing tax, accounting and environmental matters, like air and h2o top quality and waste administration and disposal the effects of local climate adjust, which include improved frequency and severity of considerable climate situations and the extent to which counterparties are eager to do business with, finance the functions of or purchase power from the Evergy Businesses owing to the point that the Evergy Providers work coal-fired era prices and availability of electrical power in wholesale markets industry notion of the electricity market and the Evergy Businesses the impact of the Coronavirus (COVID-19) pandemic on, amongst other issues, gross sales, benefits of operations, financial affliction, liquidity and cash flows, and also on operational challenges, these as the availability and capability of our personnel and suppliers to complete the features that are required to function the Evergy Organizations adjustments in the power investing marketplaces in which the Evergy Companies take part, which include retroactive repricing of transactions by regional transmission businesses (RTO) and independent method operators monetary marketplace problems and performance, together with variations in interest prices and credit history spreads and in availability and cost of money and the outcomes on derivatives and hedges, nuclear decommissioning belief and pension prepare property and prices impairments of lengthy-lived property or goodwill credit history ratings inflation charges the transition to a alternative for the London Interbank Presented Amount (LIBOR) benchmark interest charge efficiency of chance management insurance policies and processes and the ability of counterparties to fulfill their contractual commitments impression of bodily and cybersecurity breaches, legal activity, terrorist attacks and other disruptions to our services or details technologies infrastructure or the services and infrastructure of third-celebration company companies on which we count potential to carry out promoting and revenue ideas price, availability, high quality and well timed provision of tools, materials, labor and gas potential to achieve era goals and the event and length of prepared and unplanned technology outages delays and expense improves of generation, transmission, distribution or other initiatives the Evergy Companies’ means to control their transmission and distribution growth strategies and transmission joint ventures the inherent pitfalls linked with the possession and procedure of a nuclear facility, together with environmental, well being, security, regulatory and money challenges workforce challenges, including individuals related to our means to appeal to and retain capable personnel, retain satisfactory associations with our labor unions and handle costs of, or variations in, retirement, wellbeing care and other advantages disruption, charges and uncertainties prompted by or relevant to the steps of persons or entities, such as activist shareholders or exclusive curiosity groups, that look for to affect our strategic strategy, economic effects or operations the possibility that strategic initiatives, which include mergers, acquisitions and divestitures, and lengthy-time period economic plans, may perhaps not produce the benefit that they are expected to attain in a well timed manner or at all challenges in keeping relationships with buyers, workforce, regulators or suppliers and other risks and uncertainties.
This list of things is not all-inclusive because it is not doable to forecast all factors. Further dangers and uncertainties are discussed from time to time in existing, quarterly and annual reports submitted by the Evergy Organizations with the Securities and Exchange Commission (SEC). Experiences filed by the Evergy Companies with the SEC ought to also be examine for far more info regarding danger things. Each forward-wanting statement speaks only as of the date of the specific assertion. The Evergy Organizations undertake no obligation to publicly update or revise any ahead-searching statement, irrespective of whether as a final result of new information, long term situations or otherwise, apart from as necessary by regulation.
