Charles Rice, the current president and CEO of Entergy New Orleans, will move to a new role within the company starting next week, according to a statement issued by Entergy Friday.
The move of Rice away from the position was first reported by WWL-TV and The New Orleans Advocate Thursday. A statement by the company said Rice will be moving to a post in the company's legal department.
“It has been an honor to serve the great citizens of New Orleans and lead the many fine employees of Entergy New Orleans,” Charles Rice said Friday in a prepared statement. “It is time to allow the company to pursue new leadership as Entergy New Orleans continues to be a valuable part of the community I call home and hold near to my heart.”
Rice exercised his option to purchase 5,766 shares of Entergy stock at a previously set price and immediately sold those shares at the current market price, netting about $70,025 in the process.
Rice, who has overseen Entergy New Orleans during some recent issues including continuing power outages across the city, even on days when there is no severe weather, a controversial plan for a plant in New Orleans East and a controversy over the company bringing in paid actors to lobby for and support the New Orleans East plant at public meetings.
Rod West, president of Entergy Corp., will serve in the interim role until Rice’s successor can be found.
West addressed a City Council Utilities Committee Thursday, saying that the company understands the recent issues.
"I am here in the hope that we can begin to correct and reset our path forward. I'm ready to renew this company's commitment to be a stronger and more constructive partner with this council and with the New Orleans community not only with words, but with concrete steps forward," he said.
Stay with Eyewitness News on WWL-TV and WWLTV.com for more on this developing story.