CenterPoint Energy Inc.
02/23/2026 | Press release | Distributed by Public on 02/23/2026 05:04
Management Change/Compensation (Form 8-K)
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 18, 2026, Kristie L. Colvin notified CenterPoint Energy, Inc. (the "Company") of her intent to retire from the Company on June 1, 2026. She will retire from her position as Senior Vice President and Chief Accounting Officer of the Company and its affiliated subsidiaries on March 2, 2026, and will transition to an advisory role to support the transition to her successor until her retirement from the Company. Ms. Colvin's decision to retire is not the result of any disagreement with the Company on any matter relating to the Company's operations, policies and practices, including any matters concerning the Company's controls or any financial or accounting-related matters or disclosures.
In connection with Ms. Colvin's retirement, on February 19, 2026, the Company appointed Russell K. Wright to the position of Vice President and Chief Accounting Officer of the Company and its affiliated subsidiaries, effective March 2, 2026. Mr. Wright, 42, has served as Vice President, Financial Planning and Analysis of the Company since August 2022. Mr. Wright previously served as Interim Chief Accounting Officer of the Company from August 2023 to October 2023, Vice President, Financial Services and Special Projects of the Company from January 2022 to August 2022 and Director of Financial Services of the Company from January 2019 to January 2022. Prior to joining the Company, Mr. Wright was Director of Technical Accounting for McDermott International Inc., a global provider of engineering and construction solutions to the energy industry, from September 2016 to January 2019 and Audit Senior Manager at Deloitte & Touche, LLP, which provides audit and assurance, tax, consulting, and risk and financial advisory services, from September 2013 to September 2016. Mr. Wright is a certified public accountant (CPA).
In connection with his appointment, Mr. Wright will receive a base salary of $330,000 per year and will be eligible to participate in the Company's compensation and benefits plans and programs for similarly situated executives, including the Company's change in control plan and incentive plans. The incentive plans include the Company's Short-Term Incentive Plan ("STI") and the Long-Term Incentive Plan ("LTI"). His initial target STI award level will be 45% of base salary and his target LTI award level will be 80% of base salary.
The appointment of Mr. Wright was not pursuant to any agreement between Mr. Wright and any other person. There is no family relationship between Mr. Wright and any director or executive officer of the Company, and there are no transactions between Mr. Wright and the Company that are required to be reported under Item 404(a) of Regulation S-K.
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