Florida Power & Light, one of the largest utilities in the country, abruptly announced the retirement of its chief executive after a tenure marked by strong financial returns, moves toward greener energy and multiple scandals.
An internal investigation clears Florida Power & Light of wrongdoing but more is to come
After an early round of reports, NextEra commissioned an internal investigation into the allegations against Silagy and Florida Power & Light in Florida. More recently, the company hired an outside law firm to look more broadly at the company's actions. NextEra officials say that investigation is close to completion.
Last June, Florida Power & Light spokesperson David Reuter wrote that the initial review had exonerated the company:"This detailed report found no evidence of illegality or wrongdoing on the part of FPL or any of its employees." That statement was made before additional rounds of damaging disclosures prompted the investigation by the outside law firm.
At the start of the Monday earnings call, Ketchum, the NextEra chief executive, directly addressed the media reports and federal election complaint."Based on information in our possession, we believe that FPL would not be found liable for any of the Florida Campaign finance law violations as alleged in the media articles," Ketchum said. He added that the company would soon challenge the complaint and call for its dismissal.
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