Edison International's Pedro J. Pizarro will succeed Theodore F. Craver, Jr. as CEO effective September 30.
Photo courtesy: Edison International
Edison International has appointed new leadership to the company. It announced last week that Theodore F. Craver, Jr., Edison International’s chairman, president, and CEO, will retire effective September 30 of this year, in keeping with the company’s practice of retiring CEOs upon reaching age 65.
Pedro J. Pizarro will succeed Craver as CEO, and independent director William P. Sullivan will become non-executive chair.
“Over the last several years, we have repositioned Edison International and developed the next generation of leaders capable of successfully navigating the enormous changes in our industry,” said Craver. “I am proud of what our team has accomplished for customers and shareholders. This year we are delivering an 8 percent reduction in customer average rates, and Edison International’s market value is higher this month than at any time in our 130-year history.”
The board of directors also elected Pizarro to the board, and appointed him as president of the company, effective June 1.
Pizarro has been with Edison International for more than 16 years. He currently serves as president of Southern California Edison (SCE), the company’s principal subsidiary.
Craver said, "Pedro is a dynamic leader who has been the top executive at both our utility and competitive businesses. He grasps the changes that are reshaping our industry and has the talent and leadership skills to convert these opportunities into sustainable growth for Edison International.”
"I am honored and excited to be selected by the board to lead Edison International into the future,” Pizarro said. “We are better positioned than ever to be a trusted leader in electricity, renewable energy, and energy services."
When Pizarro becomes president on June 1, Senior Vice President Kevin M. Payne will become CEO of SCE, and Senior Vice President Ronald O. Nichols will become president of SCE.