Thad Hill will become CEO of Calpine Corp. next year when Jack Fusco steps down to become executive chairman of the board, the Houston-based power generation company said Thursday.
Hill, president and chief operating officer since 2010, joined Calpine in 2008 after serving in executive positions at NRG Energy and Texas Genco, which NRG acquired in 2005.
He will retain the title of president when he assumes the top job.
Calpine announced last December that Fusco would become executive chairman after the company’s annual shareholders’ meeting in May of 2014.
“Our shareholders and employees alike will benefit from continuity of leadership and specifically from Thad’s keen business insights that inform sound strategic and tactical decisions,” Fusco said in a company news release. “I’m also excited about the opportunity to spend more time focusing on the company’s long-term strategic plan and engaging with policymakers as I continue to advocate for fair and competitive power markets and responsible environmental regulation.”
Calpine has 93 power plants in operation or under construction in the United States and Canada, according to Thursday’s news release.