UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) September 23, 2015
PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED
(Exact name of registrant as specified in its charter)
New Jersey | 001-09120 | 22-2625848 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
80 Park Plaza, P.O. Box 1171
Newark, New Jersey 07101-1171
(Address of principal executive offices) (Zip Code)
973-430-7000
(Registrants telephone number, including area code)
http://www.pseg.com
PUBLIC SERVICE ELECTRIC AND GAS COMPANY
(Exact name of registrant as specified in its charter)
New Jersey | 001-00973 | 22-1212800 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
80 Park Plaza, P.O. Box 570
Newark, New Jersey 07101-0570
(Address of principal executive offices) (Zip Code)
973-430-7000
(Registrants telephone number, including area code)
http://www.pseg.com
PSEG POWER LLC
(Exact name of registrant as specified in its charter)
Delaware | 001-34232 | 22-3663480 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
80 Park Plaza
Newark, New Jersey 07102-4194
(Address of principal executive offices) (Zip Code)
973-430-7000
(Registrants telephone number, including area code)
http://www.pseg.com
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On September 23, 2015, Public Service Enterprise Group Incorporated (PSEG) issued a press release, attached to this Form 8-K as Exhibit 99, announcing the election of Daniel J. Cregg as Executive Vice President and Chief Financial Officer of PSEG, Public Service Electric and Gas Company (PSE&G) and PSEG Power LLC (Power), effective October 8, 2015. On July 24, 2015, PSEG announced that Caroline Dorsa had notified PSEG of her intention to retire from her positions as Executive Vice President and Chief Financial Officer (including as Principal Financial Officer) of PSEG, PSE&G and Power, and she will leave PSEG effective October 8, 2015.
Mr. Cregg, age 51, has been serving as Vice President Finance for PSE&G since June 2013 and previously served as Vice President Finance for Power since December 2006. Under the terms of Mr. Creggs at will employment as Executive Vice President and Chief Financial Officer, he will receive a base salary of $520,000 and a target annual incentive under PSEGs Management Incentive Compensation Plan of 75%. Mr. Cregg will continue to participate in PSEGs Amended and Restated 2004 Long-Term Incentive plan.
Item 9.01 Financial Statements and Exhibits
Exhibit 99 | Press Release dated September 23, 2015 |
2
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. The signature of the undersigned company shall be deemed to relate only to matters having reference to such company and any subsidiaries thereof.
PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED | ||
(Registrant) | ||
By: | /s/ Stuart J. Black | |
STUART J. BLACK | ||
Vice President and Controller | ||
(Principal Accounting Officer) |
Date: September 23, 2015
3
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. The signature of the undersigned company shall be deemed to relate only to matters having reference to such company and any subsidiaries thereof.
PUBLIC SERVICE ELECTRIC AND GAS COMPANY | ||
(Registrant) | ||
By: | /s/ Stuart J. Black | |
STUART J. BLACK | ||
Vice President and Controller | ||
(Principal Accounting Officer) |
Date: September 23, 2015
4
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. The signature of the undersigned company shall be deemed to relate only to matters having reference to such company and any subsidiaries thereof.
PSEG POWER LLC | ||
(Registrant) | ||
By: | /s/ Stuart J. Black | |
STUART J. BLACK | ||
Vice President and Controller | ||
(Principal Accounting Officer) |
Date: September 23, 2015
5
Exhibit 99
Media Relations | Public Service Enterprise Group 80 Park Plaza, T6 Newark, NJ 07102 |
FOR IMMEDIATE RELEASE September 23, 2015 |
CONTACT: | Mike Jennings 973-430-6406 Michael.Jennings@pseg.com |
PSEG NAMES COMPANY VETERAN DAN CREGG AS
EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER
As previously announced, current CFO, Caroline Dorsa retires early October.
(Newark, N.J. September 23, 2015) PSEG announced today that Daniel J. Cregg, currently vice-president of finance for PSE&G, was elected by the Board of Directors to be Executive Vice President and Chief Financial Officer for the company effective October 8. He succeeds current CFO, Caroline Dorsa whose previously announced retirement will be effective at that time.
During his 24-year career at PSEG, Cregg has held the senior financial position at both PSE&G, New Jerseys largest gas and electric utility, and PSEG Power, a major independent power producer.
Dan brings a deep understanding of the financial and business needs of our two main subsidiaries, said Ralph Izzo, president, chairman and CEO, PSEG. His in-depth knowledge of these businesses and our industry will enable him to effectively and seamlessly fill the role of CFO from day one. I look forward to working with him in his new position.
Cregg joined PSEG in 1991 and has held a variety of financial positions. In 2006, he was named vice president finance for PSEG Power with critical responsibilities in Powers development and strategic planning activities. He was named vice president - finance for PSE&G in 2013. Prior to joining PSEG, Cregg spent five years with the accounting and consulting firm of Deloitte and Touche, providing consulting services to a wide range of clients with an emphasis on the energy industry.
It has been a tremendous opportunity to work at PSEG for 24 years and be a part of the progress we have made. Im extremely pleased to have the opportunity to work with this leadership team to continue to serve customers and shareholders of PSEG as a leading supplier of reliable, clean and economical energy, Cregg said.
Cregg holds a Master of Business Administration degree from the Wharton School of the University of Pennsylvania and is a graduate of Lehigh University, where he received a bachelors degree in accounting. He lives in Robbinsville, New Jersey.
###
Public Service Enterprise Group (NYSE: PEG) is a publicly traded diversified energy company with annual revenues of approximately $11 billion. Its operating subsidiaries are: Public Service Electric and Gas Company (PSE&G), PSEG Power, and PSEG Long Island.
Visit PSEG at:
www.pseg.com
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PSEG on LinkedIn
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