NextEra Energy falls as unit CEO to retire

Shares of utility firm NextEra Energy NEE.N fall 2.8% to $71.53

Rebecca Kujawa, president and chief executive officer of NextEra Energy Resources, is to retire on May 22

NextEra Energy Resources is NEE's competitive power generation subsidiary and produces wind and solar energy

"We perceive this as a cautious data point, albeit not necessarily surprising considering she had apparently indicated 3 years ago (at time of NEE CEO succession) her desire to move on when not selected for this role," - Jefferies

Brian Bolster, currently executive vice president and chief financial officer at NEE, will succeed Kujawa

"This is unfortunate timing given corresponding focus on NEE prospects ahead of Inflation Reduction Act (IRA) reform under a reconciliation bill & substantive ramp in 2026+ on development targets," - Jefferies added further

Including sessions moves, stock up ~1% YTD