David W. Crane

David W. Crane (born 1959) is a business executive in the energy industry.

Current employment

David Crane has held or currently holds the following positions at NRG Energy: President, Chief Executive Officer (2003-2015), Director and Chairman.[1] He is also the CEO, President and Manager at both GenOn Americas Generation LLC and GenOn Mid Atlantic LLC. In his capacity as CEO at NRG, he presented the firm’s perspective on its everyday workings and strategy to the Board. He is also Chairman at International Power America, Inc., and Chairman of Nuclear innovation North America, LLC. On December 3, 2015 David Crane's resignation from his position at NRG was announced, and Mauricio Gutierrez took over as CEO.

Crane’s vision

Crane has had a key part in NRG’s shift into green energies. Currently, the firm has 3 million customers. With its “shift to green power systems [he hopes this will] keep them.” He also believes that given “80% of residential solar installations are done on 20-year leases, that means you’re my customer for the next 20 years. You’re not leaving.”[2]

In the past, it was Crane who moved NRG from Minneapolis – where the firm existed as an Xcel subsidiary – to Princeton, NJ.[3]

Today, having been at the firm for over 10 years, Crane has all but doubled its generating capacity, quadrupling sales. Shares of the company have outperformed S&P 500 and Dow Jones indexes as well as Exelon Corp., NRG’s largest competitor.[4]

Prior companies

Crane has worked in executive roles at the following companies: International Power PLC (Chief Operating Officer and CEO), Lehman Brothers Inc. (Senior Vice President - Global Power New York, Senior VP Asia), El Paso LLC (Director), ABB Energy Ventures (Vice President for the Asia-Pacific Region), GenOn Energy, Inc. (Director), EP Energy LLC (Director), [NRG Energy] (President, Chief Executive Officer).

Education

Crane has a Bachelor of Arts from the Woodrow Wilson School of Public and International Affairs, at Princeton University and a Juris Doctor from Harvard Law School.[5] At the time, Princeton recruited him to play soccer. He was also high school president.

Personal information

David Crane grew up in Lake Forest, Illinois, on the Lake Michigan shore. His father was an aluminum sales executive. At 14 years old he wanted to be a lawyer.[6] He once owned Graffiti, a bar in Hong Kong. He has trekked across Costa Rica and rebuilt homes in Haiti with his kids. Today he lives in Princeton, NJ with his wife Isabella de la Houssaye (who has an Ivy League pedigree and was a corporate lawyer). The couple has five children.[7]

References

  1. ↑ "David Crane - Forbes". Forbes. Retrieved 12 November 2014.
  2. ↑ Helman, Christopher. "David Crane's Green Vision For Carbon-Belching NRG Energy". Forbes. Retrieved 12 November 2014.
  3. ↑ Ferris, David. "ELECTRICITY: NRG's David Crane wants to rule -- and overthrow". E&E Publishing. Retrieved 12 November 2014.
  4. ↑ Ferris, David. "ELECTRICITY: NRG's David Crane wants to rule -- and overthrow". E&E Publishing. Retrieved 12 November 2014.
  5. ↑ "Executive Profile* David W. Crane". Bloomberg Businessweek. Retrieved 12 November 2014.
  6. ↑ Kapadia, Reshma. "Going Off the Grid". Barrons. Retrieved 12 November 2014.
  7. ↑ Ferris, David. "NRG's David Crane wants to rule -- and overthrow". E&E Publishing. Retrieved 12 November 2014.
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