comscore HEI shareholders approve sale to NextEra | Honolulu Star-Advertiser
Business | Top News

HEI shareholders approve sale to NextEra

  • Craig T. Kojima / Dec. 3
    Connie Lau
[ AD HAS BEEN REMOVED FROM THIS STORY ]

Hawaiian Electric Industries said Wednesday shareholders approved the company’s sale to Florida-based NextEra Energy Inc.

HEI said 76 percent of shares outstanding were voted in favor of the sale. The company needed 75 percent to win approval.

At a shareholder meeting on May 12, HEI only had 70 percent of outstanding shares voting in favor of the sale. HEI extended the voting deadline to get the necessary 75 percent.

HEI still needs approval from the state Public Utilities Commission for the sale to go through.

HEI shareholders also approved proposed executive compensation related to the sale.

HEI CEO Connie Lau will receive an $11.57 million compensation package if the sale is completed, according to a NextEra federal filing on Jan. 8.

Comments have been disabled for this story...

Click here to see our full coverage of the coronavirus outbreak. Submit your coronavirus news tip.

Be the first to know
Get web push notifications from Star-Advertiser when the next breaking story happens — it's FREE! You just need a supported web browser.
Subscribe for this feature

Scroll Up