JUNO BEACH, Fla. – The board of directors of NextEra Energy, Inc. (NYSE: NEE) today expanded the size of the board by one and appointed Kenneth B. Dunn as the board’s newest member. Dunn, 58, is dean of the Tepper School of Business at Carnegie Mellon University.
Dunn’s appointment increases the size of the NextEra Energy board from 12 to 13 members.
"Ken Dunn has been equally successful in the worlds of finance and academia. He has extensive experience as an investment manager, and he helped build one of the best business schools in the world. We are extremely fortunate to have him join our board," said Lew Hay, chairman and chief executive officer of NextEra Energy.
Dunn was appointed the eighth dean of the Tepper School of Business in July 2002 following a highly successful 16-year career in finance and investment management. The Tepper School consistently ranks among the top business schools in the world and has produced seven Nobel Prize winners in economics. Dunn has announced that he is stepping down as Dean at the end of the year.
Dunn first joined Carnegie Mellon in 1979 as an assistant professor. He received its Excellence in Teaching Award in 1982, served as the Leslie Wong Distinguished Visiting Professor at the University of British Columbia in 1986, and became a tenured professor of finance and economics at Carnegie Mellon in 1987.
Dunn then joined the investment firm of Miller Anderson & Sherrerd, becoming a partner in 1989. He gained a reputation for his work in fixed-income securities, managing approximately $75 billion in assets. Dunn also managed Miller Anderson’s fixed-income trading, technology and insurance groups, continuing in these roles with Morgan Stanley after Morgan acquired Miller Anderson in 1996.
A trustee for the Friends’ Central School in Philadelphia, Dunn is also a member of the board of directors of the Pittsburgh Symphony, Carnegie Bosch Institute for Applied Studies in International Management, and BlackRock, Inc., an investment management firm.
Dunn earned a doctorate in industrial administration from Purdue University in 1979 and his master’s and bachelor’s degrees in business administration from Ohio State University in 1976 and 1974, respectively.
Dividend declared
The board today also declared a regular quarterly common stock dividend of 50 cents per share. The dividend is payable Sept. 15, 2010, to shareholders of record Aug. 27, 2010.
NextEra Energy, Inc.
NextEra Energy, Inc. (NYSE: NEE) is a leading clean energy company with 2009 revenues of more than $15 billion, nearly 43,000 megawatts of generating capacity, and more than 15,000 employees in 28 states and Canada. Headquartered in Juno Beach, Fla., NextEra Energy’s principal subsidiaries are NextEra Energy Resources, LLC, the largest generator in North America of renewable energy from the wind and sun, and Florida Power & Light Company, which serves approximately 4.5 million customer accounts in Florida and is one of the largest rate-regulated electric utilities in the country. Through its subsidiaries, NextEra Energy collectively operates the third largest U.S. nuclear power generation fleet. For more information about NextEra Energy companies, visit these websites: www.NextEraEnergy.com, www.NextEraEnergyResources.com, www.FPL.com.
