Eversource Energy announced that Phil Lembo is retiring as Chief Financial Officer and as part of the company’s leadership succession plan John Moreira, the company’s Senior Vice President and Treasurer, has been elected as Chief Financial Officer, effective today. Lembo, 66, has served as Eversource’s Chief Financial Officer since May 2016, and will continue to serve the company until later this year as a non-executive Senior Strategic Advisor focusing on strategic options for Eversource’s offshore wind investments.
Moreira has worked at Eversource and its predecessor companies for 22 years. He was promoted to the role of Senior Vice President - Finance and Regulatory and Treasurer in 2018. As Chief Financial Officer, he will oversee Eversource Energy’s finance, accounting, investor relations, budgeting, insurance, risk management, supply chain, regulatory, real estate and facilities functions. He will also remain Eversource Energy Treasurer.
Moreira is a certified public accountant and holds a master’s degree in business administration from Curry College and a bachelor’s degree in accounting from the University of Massachusetts - Dartmouth.
“I’ve known and worked with John for 22 years and he has been a key leader in the finance organization during that time,” said Joe Nolan, Eversource’s President and Chief Executive Officer. “His extensive knowledge of our industry, breadth of experience within the finance and accounting discipline, and strong leadership skills make him the ideal person to assume the company’s top financial role going forward.”
“I’d also like to thank Phil for his dedicated service and outstanding contributions to Eversource as Chief Financial Officer, and his extraordinary leadership in the Finance and Accounting area over his 38-year career,” Nolan added. “I am pleased he will remain as Senior Advisor to provide important guidance to the company as we examine strategic options for our offshore wind business.”
Moreira said, “I am honored and grateful to assume leadership of Eversource’s financial organization and thank Phil for all of the guidance and leadership he has provided to me and the broader finance team during his tenure first as Treasurer and then as Chief Financial Officer. I look forward to leading our incredible team and working to maintain Eversource’s strong financial position on behalf of our customers, communities, and investors. We are very well positioned to execute Eversource’s $18 billion, five-year investment program to upgrade, modernize and decarbonize our delivery networks for the benefit of our 4.4 million electric, natural gas and water customers.”