Subject category:
Strategy and General Management
Published by:
Harvard Business Publishing
Version: 26 July 2022
Length: 16 pages
Data source: Published sources
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Abstract
In 2015, David Crane was the CEO of NRG, the second-largest energy producer in the United States. NRG got most of its power from fossil fuels, but Crane - hired as CEO in 2003 as NRG emerged from bankruptcy - had invested heavily in alternative energy, loudly proclaiming the business benefits of being a leader on climate change. But by 2015, facing investor and board pressure, Crane was forced to spin off NRG's renewable assets, marking the end of his bold strategy.
Location:
Industry:
Size:
Fortune 500
Other setting(s):
2003-2015
About
Abstract
In 2015, David Crane was the CEO of NRG, the second-largest energy producer in the United States. NRG got most of its power from fossil fuels, but Crane - hired as CEO in 2003 as NRG emerged from bankruptcy - had invested heavily in alternative energy, loudly proclaiming the business benefits of being a leader on climate change. But by 2015, facing investor and board pressure, Crane was forced to spin off NRG's renewable assets, marking the end of his bold strategy.
Settings
Location:
Industry:
Size:
Fortune 500
Other setting(s):
2003-2015