Entergy Corporation today announced that J. Wayne Leonard, 61, the company’s chairman and chief executive officer, has informed the board of directors of his decision to retire on Jan. 31, 2013. Leo Denault, 52, currently executive vice president and chief financial officer, has been elected to succeed Leonard as chairman and CEO at that time. Leonard is the longest serving CEO in company history beginning with his election in October 1998. Andrew Marsh, 40, currently vice president, system planning, will succeed Denault as executive vice president and CFO.<br />Also retiring in January is Entergy Wholesale Commodities President Richard Smith, 60, who joined Entergy in 1999. William Mohl, 52, currently chairman, president and CEO of Entergy Louisiana and Entergy Gulf States Louisiana, will succeed Smith and relocate to the Northeast.<br />Said Leonard, “We have worked hard to build value for all stakeholders and adapt to a changing marketplace. I am proud of our track record overall and confident that our team is focused on the right things to ensure that we meet and ultimately exceed the expectations of our shareholders, customers and all stakeholders. The board’s constant focus on developing the next generation of leadership is, of course, key to achieving Entergy’s broader goals. I believe we have the most bench strength in our industry and an extraordinarily strong senior management team that has been tested time and time again. They are more than ready to lead this company into the future. Over the next several months, we will all be focused on a seamless transition as we increase the momentum on our value-creation initiatives.”<br />Leonard continued, “Having worked closely alongside Leo for almost 25 years, since his early days at PSI Energy and then through the merger that formed Cinergy, I know he is absolutely the right person to lead the team. I have seen firsthand his strategic vision and leadership, financial acumen and in-depth knowledge of the business, and he has more than proven himself in challenging environments.<br />“And, in Drew Marsh, who will become CFO, we have a leader who is extremely well-versed in all aspects of our business, including corporate finance and strategic and system planning. He is not only extremely intelligent but also well-respected throughout the company, serving as the “go-to guy” on tough assignments with proven practical knowledge to add value. He has been groomed for this role for a long time, and has the skills and experiences that will support and complement those of the leadership team.”<br />Leonard concluded, “I would be remiss without expressing special recognition for my longtime friend and colleague Rick Smith, who joined me at Entergy from Cinergy, and who has also announced his plans to retire at the end of January. We are all grateful for his enormous leadership and dedication over 13 years. Always focused on results, Rick has led with integrity and passion and he will be missed by many – both inside and outside the company.<br />“At the same time, Rick and I are both pleased that Bill Mohl has agreed to step into Rick’s current role. Bill will be moving to the Northeast, and neither Rick nor I can think of a leader more perfectly suited to dealing with the challenges and opportunities ahead. He knows the generation business very well and will expertly apply that knowledge to our EWC business.”<br />In previous capacities, Smith served as Entergy’s group president of utility operations from 2002 to 2007 and chief operating officer from 2007 to 2010 before assuming his current position as president of Entergy Wholesale Commodities business in 2010.<br />Said Gary Edwards, presiding director, “While Wayne will continue to serve as chairman and CEO for several months, the entire board expresses its strong, unanimous and deep gratitude to him for his years of dedication and service. Wayne has had an outstanding career, working tirelessly on behalf of so many and winning the respect of all, and we salute him for his numerous accomplishments. His bold vision, his willingness to take a stand and speak out on issues important to the company, its stakeholders and our industry, and his unbridled focus on principles-based leadership and ‘doing the right thing,’ are unmistakable hallmarks of his tenure with Entergy.”<br />Leonard became CEO and joined the board effective Jan. 1, 1999 and assumed the additional role of chairman in 2006. Leonard’s many recognitions include a record 11 straight years as a finalist for CEO of the Year in the annual Platts Global Energy Awards competition and being ranked as one of the top CEOs in the power industry for seven consecutive years by Institutional Investor magazine. Leonard was named top CEO in 2004 and 2010 and a member of the magazine’s “2010 All-America Executive Team.” In addition, he has been recognized with various awards from low income and environmental advocacy groups including the National Wildlife Federation Achievement Award for commitment to Gulf Coast restoration and addressing climate change and the first ever Community Action Partnership’s Corporate Champion Award for low income efforts.<br />Edwards continued, “The board has every confidence that Leo’s experience, deep knowledge of the business and proven leadership capabilities make him the ideal person to build on the solid foundation he inherits from Wayne to lead the company into the future. He has been the visionary leader behind a number of important strategic initiatives for the company and is superbly prepared for his new role. We look forward to working closely with him for years to come.”