Algonquin Power names Rod West as new CEO
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Jan 31 (Reuters) - Algonquin Power & Utilities AQN.TO said on Friday that industry veteran Rod West will succeed Chris Huskilson as its new chief executive officer, effective March 7.
The Canadian firm has been under pressure from Starboard Value, its biggest shareholder, and other activist firms to reduce debt and boost earnings, urging it to shed its renewable assets.
Last year, the company said it would sell its renewable energy business, excluding the hydropower operations, to a unit of U.S.-based LS Power for up to $2.5 billion and would also offload a 42.2% stake in Atlantica Sustainable Infrastructure to Energy Capital Partners for $2.56 billion.
Huskilson, who was interim CEO since 2023 and made permanent in May last year, will continue to be a member on the company's board after stepping down.
Earlier this month, the utility firm said CFO Darren Myers will step down after serving through the reporting of the company's fourth-quarter results.
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