NRG Yield, a yieldco vehicle owning renewable and conventional generation portfolios in the U.S., announced that David Crane has stepped down as President and Chief Executive Officer of NRG Energy, Inc., the Board of Directors of NRG Yield has acted to replace Mr. Crane as Chairman, President and Chief Executive Officer of NRG Yield.

The Board has named Mauricio Gutierrez interim President and Chief Executive Officer of NRG Yield, effective immediately. Mr. Gutierrez currently serves as a Director of NRG Yield and has served as the Chief Operating Officer of NRG Yield since the initial public offering in July 2013. Mr. Gutierrez was recently named President and Chief Executive Officer of NRG Energy, where he previously served as Chief Operating Officer since July 2010 and in various roles since August 2004. During this interim period, the Board of Directors will evaluate the optimal replacement for this position as a result of Mr. Crane’s departure.

John Chlebowski will assume the role of Chairman of the Board during the interim CEO evaluation process. Mr. Chlebowski has served as Lead Independent Director of NRG Yield since its initial public offering in July 2013 and previously served on the Board of Directors of NRG Energy since its emergence from bankruptcy in 2003. During his tenure at NRG Energy, he served on numerous committees of the board and chaired both the audit and compensation committees.