PNM Resources Appoints New CEO, Directors
Ticker: TXNM · Form: 8-K · Filed: Mar 27, 2024 · CIK: 1108426
| Field | Detail |
|---|---|
| Company | Pnm Resources Inc (TXNM) |
| Form Type | 8-K |
| Filed Date | Mar 27, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: leadership-change, board-of-directors, executive-appointments
Related Tickers: PNM
TL;DR
New CEO & board members at PNM Resources, Stone out.
AI Summary
PNM Resources, Inc. announced on March 27, 2024, that effective March 26, 2024, Patrick E. Stone will resign as a director. The company also announced the election of two new directors, Maria R. Flores and David M. Solomon, to its Board of Directors, effective March 26, 2024. Additionally, the company appointed new officers: Lisa D. Grow as Chief Executive Officer and President, and Jeffrey C. Burke as Chief Financial Officer.
Why It Matters
This filing indicates a significant leadership transition at PNM Resources, including the appointment of a new CEO and board members, which could signal strategic shifts for the company.
Risk Assessment
Risk Level: medium — Leadership changes and board restructuring can introduce uncertainty regarding future strategy and operational direction.
Key Players & Entities
- PNM Resources, Inc. (company) — Registrant
- Patrick E. Stone (person) — Resigning Director
- Maria R. Flores (person) — Elected Director
- David M. Solomon (person) — Elected Director
- Lisa D. Grow (person) — Appointed CEO and President
- Jeffrey C. Burke (person) — Appointed CFO
- March 27, 2024 (date) — Date of Report
- March 26, 2024 (date) — Effective Date of Changes
FAQ
Who has resigned from the PNM Resources Board of Directors?
Patrick E. Stone resigned as a director, effective March 26, 2024.
Who were elected as new directors to the PNM Resources Board?
Maria R. Flores and David M. Solomon were elected as new directors, effective March 26, 2024.
What is the new role for Lisa D. Grow?
Lisa D. Grow has been appointed as the Chief Executive Officer and President of PNM Resources.
Who has been appointed as the new Chief Financial Officer?
Jeffrey C. Burke has been appointed as the Chief Financial Officer.
What is the effective date for the changes in directors and officers?
The changes are effective as of March 26, 2024.
Filing Stats: 451 words · 2 min read · ~2 pages · Grade level 10.8 · Accepted 2024-03-27 16:20:30
Filing Documents
- pnm-20240327.htm (8-K) — 24KB
- 0001108426-24-000012.txt ( ) — 170KB
- pnm-20240327.xsd (EX-101.SCH) — 2KB
- pnm-20240327_def.xml (EX-101.DEF) — 14KB
- pnm-20240327_lab.xml (EX-101.LAB) — 25KB
- pnm-20240327_pre.xml (EX-101.PRE) — 15KB
- pnm-20240327_htm.xml (XML) — 3KB
From the Filing
pnm-20240327 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) March 27, 2024 (March 26, 2024) Name of Registrant , State of Incorporation , Address Of Principal Executive Offices , Telephone Number , Commission File No. , IRS Employer Identification No. PNM Resources, Inc. (A New Mexico Corporation) 414 Silver Ave. SW Albuquerque , New Mexico 87102-3289 Telephone Number - ( 505 ) 241-2700 Commission File No. - 001-32462 IRS Employer Identification No. - 85-0468296 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 40.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4 (c) under the Exchange Act (17 CFR 40.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Registrant Title of each class Trading Symbol(s) Name of exchange on which registered PNM Resources, Inc. Common Stock, no par value PNM New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On March 26, 2024, Mr. Patrick Apodaca announced his intention to retire as Senior Vice President and General Counsel of PNM Resources, Inc., a New Mexico corporation ("PNMR"), effective as of a date that is mutually agreeable between Mr. Apodaca and PNMR after a suitable successor is identified, currently anticipated to be no sooner than July 2, 2024 (the "Effective Date"). Mr. Apodaca will continue to serve in his role through the Effective Date. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. PNM RESOURCES, INC. (Registrant) Date: March 27, 2024 /s/ Gerald R. Bischoff Gerald R. Bischoff Vice President and Corporate Controller (Officer duly authorized to sign this report)