Christian Schade, chief financial officer of Medarex, a biotech company acquired by Bristol-Myers Squibb last year, was appointed CFO of NRG Energy.
Schade will oversee the integration of the power utility’s growing renewable energy portfolio. Over the past year the company has purchased wind and solar farms in Texas and across the Western U.S. It also acquired New Jersey offshore wind developer Bluewater Wind.
In a prepared statement NRG CEO David Crane said:
Chris has a proven record of creating value at highly entrepreneurial and fast-growing companies, which will be highly valuable as NRG pursues our no- and low-carbon power-generation opportunities.
Schade replaces Gerald Luterman, a director, who will serve in his interim CFO position until May when the company’s first-quarter earnings are released — see full press release .