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Posted 03 January, 2024

CENTRUS ENERGY CORP appointed Mr. Vexler as new CEO

NYSE:LEU appointed new Chief Executive Officer Mr. Vexler in a 8-K filed on 03 January, 2024.


  In connection with Mr. Vexler's appointment as a member of the Company's Board and its President and Chief Executive Officer as of January 1, 2024, the Company and Mr. Vexler entered into the Company's standard indemnification agreement and standard change in control agreement.  

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Overview of CENTRUS ENERGY CORP
Basic Materials/Resources • Non-Ferrous Metals
Centrus Energy Corp. engages in the supply of nuclear fuel and services for the nuclear power industry. It operates through the following segments: Low-enriched Uranium (LEU) and Technical Solutions. The LEU segment includes various components of nuclear fuel to utilities from its global network of suppliers. The Technical Solutions segment offers advanced engineering, design, and manufacturing services to government and private sector customers, and is deploying advanced nuclear fuel production capabilities to power existing, and next-generation reactors around the world. The company was founded in October 1992 and is headquartered in Bethesda, MD.
Market Cap
$640M
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CENTRUS ENERGY CORP by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers


As previously reported in the Current Report on Form 8-K filed by Centrus Energy Corp. (the "Company") on November 20, 2023 (the "November 8-K"), the Company announced the transition of the Chief Executive Officer from Daniel B. Poneman to Amir Vexler effective January 1, 2024. 


Resignation of Daniel B. Poneman


In connection with that transition, on December 29, 2023, Mr. Poneman tendered his written resignation effective December 31, 2023, from his position as a member of the Board of Directors of the Company (the "Board"). Mr. Poneman's departure from the Company is not the result of any dispute or disagreement with the Company, or the Board on any matter relating to the Company's operations, policies, or practices.


Appointment of Amir Vexler to the Board of Directors and Additional Compensatory Arrangements for Mr. Vexler as President and Chief Executive Officer


On December 29, 2023, the Board appointed the incoming President and Chief Executive Officer, Mr. Vexler, to the Board, effective January 1, 2024, to fill the vacancy created by the resignation of Mr. Poneman. 


As an executive officer of the Company, Mr. Vexler will not serve on any committees of the Board nor will he receive any additional compensation for service as a director of the Company. There are no arrangements between Mr. Vexler and any other person pursuant to which he was elected to serve as a director. Except as disclosed below, there are no related party transactions between the Company and Mr. Vexler that would require disclosure under Item 404(a) of Regulation S-K.


In connection with Mr. Vexler's appointment as a member of the Company's Board and its President and Chief Executive Officer as of January 1, 2024, the Company and Mr. Vexler entered into the Company's standard indemnification agreement and standard change in control agreement. The form of indemnification agreement was filed as Exhibit 10.77 to the Company's Annual Report on Form 10-K for the year ended December 31, 2014, which was filed with the Securities and Exchange Commission (the "SEC") on March 16, 2015. The form of change in control agreement was filed as Exhibit 10.3 to the Company's Current Report on Form 8-K, which was filed with the SEC on January 16, 2013. The indemnification agreement provides for broad-based indemnification in favor of the director or officer party thereto as authorized or permitted by law and as otherwise set forth in the agreement. A description of the benefits of the change in control agreement is set forth in the Company's revised definitive proxy statement filed by the Company on Schedule 14A on May 1, 2023.