NRG settles with activist investors, appoints two directors: Reuters

Power company NRG Energy Inc said it would appoint two directors in a settlement with activist investor Elliott Management and private equity firm Bluescape Energy Partners.

John Wilder, a Bluescape Energy executive, and Barry Smitherman, former chair of the Public Utility Commission of Texas, have been appointed to the board.

The company said Howard Cosgrove and Edward Muller would retire from the board.

NRG also said it would set up a five-member committee to look into cost cutting, asset sales, capital allocation and broader strategic initiatives.