C. John Wilder
| C. John Wilder | |
|---|---|
| Born | 1958 |
| 🏳️ Nationality | American |
| 🎓 Alma mater | Southeast Missouri State University University of Texas at Austin |
| 💼 Occupation | CEO (former) TXU Energy Executive Chairman of Bluescape Group |
| 🌐 Website | https://www.bluescapegroup.com |
C. John Wilder is a U.S. energy industry executive and investor. He was the CEO of TXU Energy, a Fortune 500 company,[1][2][3][4] and founder[5] and executive chairman of Bluescape Group.[6][5] Wilder was hired as chief executive to lead a turnaround for TXU in 2004,[7][8][9] and oversaw multiple cost-cutting measures such as divesting non-core businesses.[10] The company had a fivefold profit increase the first year of his tenure.[6] Three years later he negotiated TXU’s sale, which at the time was the largest ever leveraged buyout.[11][3]
Early life and education[edit]
Wilder earned a bachelor's degree in business administration from Southeast Missouri State University in 1980,[12] graduating magna cum laude.[13] He earned a master's degree in business administration from the University of Texas.[13][14]
Career[edit]
In his early career, Wilder worked nearly twenty years at Royal Dutch Shell. He held about fifteen management positions and became the CEO of Shell Capital.[13]
Wilder joined Entergy Corp. in 1998. In 2003, he became Entergy’s executive vice president and chief financial officer.[15]
In February 2004, Wilder joined TXU as CEO.[3] TXU recruited him because it had lost over $4 billion in 2002 from investments in the UK’s deregulated energy market.[10][6]
When Wilder came on, TXU’s value had dropped below half and its debt was above 70% of its market capitalization.[3]
As CEO, Wilder divested non core businesses,[10] including an overseas utility, a telecom start-up, and a natural-gas distribution company.[3] He repurchased debt and convertible securities to reduce fixed obligations and increase the company’s capacity to confront risk. He outsourced call center and billing functions.[3] After roughly ten months of restructuring under Wilder, TXU’s stock price had risen from $23 a share to $67 dollars share[1] and 2004 shareholder returns were at 60%.[6]
Wilder announced plans in 2006 to build 11 coal-fired plants in Texas.[16][6] The plan drew protests from the public.[7][17]
In 2007, Wilder negotiated TXU’s sale in a leveraged buyout by Kohlberg Kravis Roberts (KKR), TGP,[17] and Goldman Sachs Group. The $45 billion[18][3] deal was the largest leveraged buyout to date.[17][16] Wilder received almost $300 million when he left TXU after the sale.[17][4][6]
After the 2007 TXU deal, Wilder founded Bluescape Resources,[19][5] which invests in energy-related ventures and assets.[7]
In September 2015, Wilder was hired as chairman of Exco Resources, an oil and gas producer whose share prices had fallen to about $1.[4] The deal to hire Wilder included Bluescape buying $23.5 million in Exco stock,[8] and Exco paying Bluescape consulting fees.[4] By May 2016 the company’s stock had nearly tripled,[8] but by 2017 the stock price had become so low that the company was unable to pay interest in stock.[9] Wilder resigned from Exco in November 2017.[9]
In 2017, Wilder and Paul Singer, the head fund manager of Elliott Investment Management, acquired a stake and board membership in NRG Energy.[20] In July 2017, Wilder and Singer put forward a plan for restructuring NRG through asset sales.[20][21] The company’s stock price rose roughly 25% after the plan was announced.[20]
Personal life[edit]
Wilder is married to Susan Wilder. They have three children.[17]
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- ↑ 1.0 1.1 Sanders, Lisa. "Growing smaller". CBS MarketWatch. Retrieved 7 March 2023.
- ↑ Durfee, Don (7 October 2005). "The Top Spot". CFO. Retrieved 9 March 2023.
- ↑ 3.0 3.1 3.2 3.3 3.4 3.5 3.6 Buehler, Kevin; Freeman, Andrew; Holme, Ron (1 September 2008). "The Strategy: Owning the Right Risks". Harvard Business Review. September 2008: 2–10. Retrieved 6 March 2023.
- ↑ 4.0 4.1 4.2 4.3 Dezember, Ryan; Jarzemsky, Matt (14 October 2015). "Wilbur Ross Turns to Ex-TXU CEO to Save Exco; C. John Wilder works to rescue struggling energy company, whose shares hover near $1". Wall Street Journal. Retrieved 7 March 2023.
- ↑ 5.0 5.1 5.2 "Bluescape Resources: Company Profile". bloomberg.com. Retrieved 29 March 2023.
- ↑ 6.0 6.1 6.2 6.3 6.4 6.5 Smith, Rebecca (29 April 2014). "How Shale-Gas Boom Led to Demise of Energy Future Holdings". Wall Street Journal. Retrieved 7 March 2023.
- ↑ 7.0 7.1 7.2 "'Turnaround titan' John Wilder meets first big test in Dallas oil firm's revival". Dallas Morning News. 29 August 2016. Retrieved 8 March 2023.
- ↑ 8.0 8.1 8.2 Dezember, Ryan. (14 May 2016). "Oil Patch Claims More Victims --- Exco shares tank after energy firm says it will explore options, a hit to some big investors". Wall Street Journal. Retrieved 8 March 2023.
- ↑ 9.0 9.1 9.2 Andrew, Scurria (16 January 2018). "xco Resources, Once Backed by Wilbur Ross, Enters Chapter 11; Dallas-based driller considers assets sales while restructuring talks continue". Wall Street Journal. Retrieved 8 March 2023.
- ↑ 10.0 10.1 10.2 Smith, Rebecca (22 March 2005). "How a Texas Power Company Got Tough With Consumers". Wall Street Journal. Retrieved 6 March 2023.
- ↑ Palank, Jacqueline (6 December 2013). "Edison Mission Bondholders Turn to Wilder for Bankruptcy Help; TXU's Former Chief to Aid in Potential Legal Battle". Wall Street Journal. Retrieved 8 March 2023.
- ↑ "SEMO schedules banquet for merit award winners". Southeast Missourian. 11 October 2005. Retrieved 7 March 2023.
- ↑ 13.0 13.1 13.2 Stavros, Richard (1 January 2005). "The Ultimate CEOs". Public Utilities Fortnightly. 143 (6): 36–58. Retrieved 7 March 2023.
- ↑ Moyers, Scott (29 October 2005). "CEO forum highlights Alumni Merit Award winners". Southeast Missourian. Retrieved 7 March 2023.
- ↑ Stephen, Taub (24 February 2004). "New TXU Chief Is Former Entergy CFO". CFO Magazine. Retrieved 7 March 2023.
- ↑ 16.0 16.1 Faber, David (25 February 2007). "KKR, Texas Pacific Close to Record Deal for TXU". CNBC. Retrieved 7 March 2023.
- ↑ 17.0 17.1 17.2 17.3 17.4 Souder, Elizabeth (12 October 2007). "Ex-TXU chief executive Wilder ready to tackle "life list"". McClatchy - Tribune Business News.
- ↑ Sweet, Cassandra; Steele, Anne (17 January 2017). "Elliott Pushes for Changes at NRG Energy". Wall Street Journal. Retrieved 7 March 2023.
- ↑ Bowdeya, Tweh (22 January 2018). "FirstEnergy Gets $2.5 Billion From Elliott, Bluescape Investor Group; The Ohio-based utility said the investor group could end up owning 16% to 17% of the company". Wall Street Journal. Retrieved 21 March 2023.
- ↑ 20.0 20.1 20.2 Oyeniyi, Doyin (22 July 2017). "NRG Energy Selling Off Its Renewable-Energy Projects". Texas Monthly. Retrieved 8 March 2023.
- ↑ Jones, Jeffrey (8 April 2019). "Activist investors' threat of proxy fight puzzles TransAlta CEO". Globe and Mail. Retrieved 8 March 2023.
