Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
Election of John P. Surma as Director
On November 19, 2019, the Board of Directors (the "Board") of Public Service
Enterprise Group Incorporated (the "Company") elected John P. Surma to serve as
a new director effective November 19, 2019. The Board has determined that
Mr. Surma is an independent director within the meaning of the listing standards
of the New York Stock Exchange and the Securities Exchange Act of 1934, as
amended. Mr. Surma has been appointed to the Corporate Governance, Organization
and Compensation, Nuclear Generation Operations Oversight and Fossil Generation
Operations Oversight Committees of the Board.
As of the date of his election to the Board, Mr. Surma will participate in the
Company's compensation plans for non-management directors, as described under
"Proposal 1: Election of Directors-Director Compensation" in the Company's
Definitive Proxy Statement relating to its 2019 Annual Meeting of Stockholders,
filed on Schedule 14A with the Securities and Exchange Commission (the "SEC") on
March 12, 2019 , and incorporated by reference herein.
No arrangement or understanding exists between Mr. Surma and any other person
pursuant to which Mr. Surma was selected as a director of the Company.
The Company issued a press release on November 20, 2019 announcing the election
of Mr. Surma. A copy of the press release is attached hereto as Exhibit 99.1 and
is incorporated herein by reference.
Election of Ralph A. LaRossa
On November 19, 2019, the Company's Board elected Ralph A. LaRossa to the
position of Chief Operating Officer, effective January 1, 2020. In addition to
his new position, Mr. LaRossa, 56, will continue to hold his current position as
President and Chief Operating Officer of PSEG Power LLC.
No arrangement or understanding exists between Mr. LaRossa and any other person
pursuant to which Mr. LaRossa was selected as an officer of the Company, and
there are no family relationships between Mr. LaRossa and any of our directors
or executive officers.
Information regarding Mr. LaRossa's business experience, qualifications and
other information, including his compensation arrangements and information
required by Item 404(a) of Regulation S-K, is disclosed in the Company's
Definitive Proxy Statement relating to its 2019 Annual Meeting of Stockholders,
filed on Schedule 14A with the SEC on March 12, 2019 , and incorporated by
reference herein.
Item 8.01 Other Events.
In addition to the matters discussed above, on November 19, 2019, David M. Daly
was named President and Chief Operating Officer of PSEG Utilities and Clean
Energy Ventures, effective January 1, 2020, with oversight of the company's
utility operations, as well as development of its clean energy and renewable
generation businesses. In addition to his new position, Mr. Daly will continue
to hold his current position as President of Public Service Electric and Gas
Company and Chairman of the Board of PSEG Long Island LLC.
The Company issued a press release on November 22, 2019 announcing the election
of Mr. LaRossa and Mr. Daly. A copy of the press release is attached hereto as
Exhibit 99.2 and is incorporated herein by reference under Item 5.02 and this
Item 8.01.
Item 9.01 Financial Statements and Exhibits.
Exhibit 99.1 Press Release dated November 20, 2019
Exhibit 99.2 Press Release dated November 22, 2019
Exhibit 104 Cover Page Interactive Data File (embedded within the Inline XBRL
document).
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