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NV Energy CEO Steps Down

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NV Energy President and CEO Michael Yackira is stepping down. (Photo : Isaac Brekken/Getty Images for National Clean Energy Summit 6.0)

NV Energy President and CEO Michael Yackira is stepping down. (Photo : Isaac Brekken/Getty Images for National Clean Energy Summit 6.0)

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LAS VEGAS (KXNT/AP) — Nevada’s dominant electric utility is getting a new chief executive.

Michael Yackira steps down Monday after almost seven years as president and CEO of NV Energy.

Paul Caudill takes over the corporate owner of Nevada Power and Sierra Pacific Power companies.

Publicly traded NV Energy stayed in the black on Yackira’s watch, a few years after almost going bankrupt, according to a report in The Las Vegas Sun.

Yackira oversaw completion of the $552 million, 231 mile One Nevada transmission line connecting northern and southern Nevada electric grids and the start of plans to close the coal-fueled Reid Gardner Generating Station northeast of Las Vegas.

NV Energy was sold last year for $5.6 billion to a MidAmerican Energy Holdings Co., a subsidiary of billionaire investor Warren Buffett’s Berkshire Hathaway Inc.

 

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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