Eversource Energy Appoints Paul Chodak III as Executive Vice President and COO

Eversource Energy (NYSE:ES) has announced the appointment of Paul Chodak III as its Executive Vice President and Chief Operating Officer, effective November 13, 2023. Chodak spearheaded AEP subsidiary, Indiana Michigan Power Company, in northeast Indiana for over six years.

Chodak's extensive experience spans over 22 years in Operations roles at American Electric Power (NASDAQ:AEP). He has held significant positions, including AEP’s Executive Vice President of Generation since 2019, where he oversaw the operation and maintenance of AEP’s regulated generation fleet. Before this role, Chodak led seven utility companies within AEP, serving 5 million customers across 11 states in the U.S. Midwest and Southern regions. His tenure at AEP also saw him in roles related to engineering, environmental, project management, and construction.

Chodak holds a doctorate in nuclear engineering from Massachusetts Institute of Technology, a master’s degree in environmental engineering from Virginia Polytechnic Institute, and a bachelor’s degree in chemical engineering from Worcester Polytechnic Institute. A veteran of the US Armed Forces, Chodak served 12 years in the US Navy.

In a release announcing the appointment, Joe Nolan, Eversource’s Chairman, President, and CEO, expressed his confidence in Chodak, stating, “Paul’s extensive knowledge of our industry, breadth of experience within Operations, and strong leadership skills make him the ideal person to assume the company’s top Operations role going forward.”

According to a filing made by Eversource with the Securities and Exchange Commission, Chodak's annual base salary is set at $850,000. He will also be eligible for various incentive programs, with a notable cash signing bonus of $550,000 to be paid in February 2024. Additionally, to compensate for unvested equity awards forfeited from his previous employer, he will receive an equity signing award of $1.8 million.