Talen Energy names Terry Nutt as CEO, expands share repurchase

By Reuters News

Sept 29 (Reuters) - Talen Energy TLN.O on Tuesday named President Terry Nutt as its next chief executive officer effective January 1, and increased its share repurchase authorization to $3 billion through 2028.

Nutt, who has served as Talen's president since December and previously was chief financial officer, will join the company's board when he becomes CEO.

Current CEO Mac McFarland will remain in the role and on the board through December 31 before serving as a senior adviser until his retirement in March 2027.

The company entered into $1.5 billion of accelerated share repurchase agreements, expected to buy back more than 10% of its outstanding shares.

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