Who said sex has no place in the power industry? A really strong CEO probably gets that thrill from the work, and John Rowe revealed it today.
At the National Press Club, the Exelon CEO was asked if it was still important to his company, if it wanted to be a national utility, to develop a Texas presence by buying NRG Energy. He'll be 64 next week, he said. "I'm an aging male. Lust is a constant problem."
If the NRG deal doesn't work out, would he be looking at other purchase opportunities? 'I've had a rabid devotion to shareholder value," Rowe said, "and I'll have to learn to keep my lust under control."
About that NRG deal, Rowe said he would sue NRG if its shareholders don't meet soon to consider Exelon's $6 billion hostile takeover bid.
NRG CEO David Crane has said he does not believe he has to have an annual meeting by mid-June, but shareholders can petition in court to set a date if the meeting is not held in the 13 months after the last meeting, which was May 14, 2008. "They will [meet] sooner or later," Rowe said today. "We will file suit if we have to, to see that it happens."
An Exelon-NRG combination would make Exelon indeed a powerhouse, with 47,000 MW. And the independent power generator is now even more attractive because of a likelihood the Department of Energy will give it a loan guarantee for a new nuclear project. The things that people will lust after ...
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