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PSEG Chairman and CEO Ralph Izzo announces

Plans to retire at the end of 2022

PSEG Board of Directors Elects PSEG Chief Operating Officer Ralph LaRossa as Next President and CEO

(NEWARK, NJ – April 19, 2022) PSEG today announced that Ralph Izzo, Chairman, President and Chief Executive Officer, will be retiring from the company. His last day will be December 31, 2022. As part of a planned leadership succession process, PSEG’s Board of Directors elected Ralph LaRossa, Chief Operating Officer, as President and Chief Executive Officer. effective September 1, 2022. Izzo will serve as Executive Chairman. of the Board effective September 1 until his retirement. He will continue to lead the board and work closely with LaRossa to ensure a smooth succession and will continue to focus on energy policy issues. LaRossa will assume the additional responsibilities of president on January 1, 2023.

“The significant impact Ralph Izzo has had on PSEG over the past 15 years as CEO cannot be overstated,” said PSEG outgoing Senior Director Dr. Shirley Ann Jackson. “Ralph is a visionary leader, whose passion for clean energy has driven his career, shaping the purpose, culture and transformation of PSEG. He is a highly respected and influential clean energy voice here. in New Jersey and around the world. All of this, coupled with its relentless focus on customers, communities and its commitment to building a strong and diverse talent pool, has strengthened the company and positioned PSEG well for the future. .

“It has been an honor and a privilege to serve as CEO for the past 15 years.” said Ralph Izzo, Chairman and CEO of PSEG. “I started my career at PSEG 30 years ago because I saw the possibilities of shaping a future where customers use less energy, the energy they use is cleaner than ever and delivered with reliability unmatched in our history while adding value for shareholders.Our focus as a company has shifted from providing electricity and gas to improving lives and communities.As a corporate citizen , we have a responsibility and obligation to uphold the fair treatment of our employees, our customers and the many diverse communities we serve.Throughout my career, I have strived to bring the company, our communities and the planet on a sustainable path. I am proud of the accomplishments of our 12,500 employees.”

“The Board of Directors has led a strong leadership succession planning effort and today’s announcement reflects the unanimous support of Ralph LaRossa as the next CEO. We are confident Ralph will take the reins in September and continue to successfully guide the company down the path he helped Ralph Izzo build,” added Jackson.


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