US private equity major Clayton Dubilier & Rice has hired the executive chairman of clean energy titan NextEra Energy as an operating advisor.
Lewis Hay III was previously the chairman, president and CEO of NextEra, which had consolidated revenues of about $14.3bn and almost 15,000 employees last year.
CD&R said Hay would help the firm source deals, evaluate potential investments and advise portfolio company management teams.
Firm chairman and CEO Donald Gogel said, “Lew is a proven business builder whose leadership record is one of delivering strong and sustainable financial and operating performance.
“Lew’s entrepreneurial management style and industry expertise will be a valuable complement to the Firm’s existing operating capabilities.”
Hay first joined NextEra Energy in 1999 as CFO, and was elected president and CEO two years later and board chairman a year after that.
He became executive chairman last year.
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