New Orleans (AP) — The chairman and CEO of New Orleans-based Entergy Corp., one of two Fortune 500 companies in Louisiana, will retire next year and his successor will The company announced that it was selected. Wednesday.
The 62-year-old Leo Denault will step down as his CEO of the utility this year and next year as chairman of the board, the news said in his release. The board elected Chief Financial Officer Andrew Marsh, 50, as his CEO on November 1.
Denno has been with the company for 23 years and has been CEO since 2013. The board said "the transition period will not extend beyond May 2023, or sooner than Entergy's board determines," spokesman Neil Kirby said in an email.
Kimberly Fontane will succeed Marsh as Executive Vice President and Chief Financial Officer. She has been Senior Vice Her President and Chief Accounting Officer since 2019.
According to the magazine's website, Entergy ranks her 321st on the Fortune 500 this year, with revenue of $11.7 billion and profit of her $1.1 billion. Lumen Technologies, a Monroe-based telecommunications company, ranks him 179th with $19.7 billion in revenue and $2 billion in profit.
This utility powers three million customers through operating companies in Arkansas, Louisiana, Mississippi and Texas.