Algonquin Power Names Robert Stefani as New Chief Financial Officer
Algonquin Power & Utilities Corp. (TSX/NYSE: AQN), a leading North American diversified generation, transmission, and distribution utility, announced today that it has appointed Robert J. Stefani as its new Chief Financial Officer (CFO), effective January 5, 2026. Stefani brings over two decades of financial and strategic leadership experience across the energy, infrastructure, and industrial sectors, and will play a key role in advancing Algonquin’s long-term financial strategy and growth objectives.
Extensive Financial and Strategic Expertise
Mr. Stefani joins Algonquin from Southwest Gas Holdings, Inc. (NYSE: SWX), where he spent the past three years as Senior Vice President and Chief Financial Officer. During his tenure, he was instrumental in transforming Southwest Gas into a more focused, fully regulated natural gas business. He led several high-impact financial transactions, including the $1.5 billion divestiture of the MountainWest pipeline, and guided the initial public offering (IPO) of Centuri Holdings, Inc. (NYSE: CTRI), the utility infrastructure services arm of Southwest Gas. Following the IPO, he successfully managed $1.35 billion in combined secondary sell-downs and private placements of Centuri stock, completing Southwest Gas Holdings’ full exit from Centuri.
Before joining Southwest Gas, Mr. Stefani served for four years as Senior Vice President, Chief Financial Officer, and Treasurer of PECO Energy, a subsidiary of Exelon Corporation (NASDAQ: EXC). At PECO, he managed a nearly $2 billion annual capital and operations budget, led financial strategy initiatives, oversaw capital markets activities, and supported rate case development—critical for maintaining financial stability and regulatory compliance. His leadership at PECO helped enhance the utility’s financial flexibility and operational resilience amid evolving energy market dynamics.
Earlier in his career, Stefani held key leadership roles in corporate development and mergers & acquisitions (M&A) at Exelon, where he contributed to major strategic transactions, including the $6.8 billion acquisition of Pepco Holdings. His career also includes investment and strategic finance positions at Caterpillar Inc. (NYSE: CAT), as well as investment banking roles at Marathon Capital and Citigroup (NYSE: C). In these roles, he specialized in advising companies in the energy and industrial sectors on capital markets strategy, mergers, and infrastructure investments.
Mr. Stefani began his professional journey as an officer in the United States Navy, where he gained leadership experience and a strong foundation in discipline and operational management—qualities that have shaped his approach to corporate finance and organizational leadership. He holds a Bachelor of Business Administration in Accounting from the University of Notre Dame and a Master of Business Administration from the McCombs School of Business at the University of Texas at Austin.
Leadership Perspectives and Strategic Direction
Algonquin CEO Rod West expressed strong confidence in the new appointment, emphasizing the alignment between Stefani’s expertise and the company’s financial ambitions.
“Rob brings an exceptional blend of financial discipline, capital markets expertise, and strategic leadership to Algonquin,” said West. “His proven ability to navigate complex financial transitions, optimize balance sheets, and lead teams through transformative change positions him well to successfully execute our strategic priorities and continue strengthening our foundation for sustainable growth.”
Stefani’s appointment comes at a pivotal time for Algonquin as the company continues to refine its strategic focus on renewable energy generation, regulated utilities, and sustainable infrastructure. In recent years, Algonquin has prioritized capital efficiency, strengthened its balance sheet, and advanced its commitment to low-carbon energy solutions. The addition of Stefani to the executive team underscores Algonquin’s intent to bolster its financial leadership as it positions itself for the next phase of disciplined, growth-oriented investment.
Mr. Stefani shared his enthusiasm for joining Algonquin and highlighted his commitment to value creation and fiscal responsibility.
“I am honored to join Algonquin at this important moment in its journey,” said Stefani. “I look forward to partnering with Rod and his executive leadership team to advance Algonquin’s financial strategy, support capital discipline, and deliver value to our shareholders, customers, and employees across the communities it serves.”
Leadership Continuity and Transition
Until Mr. Stefani assumes his new position on January 5, 2026, Brian Chin will continue serving as Interim Chief Financial Officer. CEO Rod West expressed appreciation for Chin’s leadership during the interim period:
“I wish to express our sincerest gratitude to Brian for his significant and ongoing contributions as Interim Chief Financial Officer,” said West. “Brian will remain with us as a key investor-facing leader, supporting a seamless transition.”
This transition period ensures continuity and stability in Algonquin’s financial operations, while allowing for a structured handover of responsibilities and ongoing collaboration on investor relations and capital markets initiatives.
Strengthening Algonquin’s Future
The appointment of Robert Stefani as CFO is a clear signal of Algonquin’s continued commitment to financial discipline, strategic growth, and operational excellence. His deep experience in corporate finance, M&A, and regulated utility management will be pivotal in driving the company’s next phase of performance improvement and shareholder value creation.
As the energy industry undergoes rapid transformation driven by decarbonization, digitalization, and decentralization, Algonquin is well-positioned to leverage Stefani’s leadership to enhance its capital allocation strategy, manage risk effectively, and expand its renewable and regulated utility portfolio across North America.
With this leadership transition, Algonquin reaffirms its focus on long-term sustainability, customer value, and responsible investment—core elements of its mission to deliver reliable, clean, and affordable energy solutions.
In welcoming Mr. Stefani, Algonquin Power & Utilities Corp. strengthens not just its executive bench but its overall strategic capacity to thrive in a rapidly evolving global energy landscape.
Source Link: https://www.businesswire.com/
