BATON ROUGE, La. (BRPROUD) – Leo P. Denault, 62, is stepping down as the head of Entergy at the end of October.

Denault has been with the company since 2000 and will retire in 2023.

The current CEO has been in that position since 2013.

“Leo Denault has shaped Entergy’s purpose, culture and transformation with a relentless focus on creating long-term, sustainable value for customers, employees, communities and owners,” said Stuart Levenick, Entergy’s lead independent director. “Leo has built and led an experienced team that has consistently executed an orderly business strategy with solid underlying fundamentals, including a robust customer base, a strong financial position, a constructive regulatory environment, strong community partnerships, a talented, diverse workforce, and a world-class storm restoration organization. He has strengthened the business and positioned Entergy well for the future. While Leo will continue to serve Entergy for several more months, the entire board expresses its deep gratitude for his years of dedication, service and values-driven leadership. We are confident that Drew will carry the torch and continue serving all of Entergy’s stakeholders well by creating sustainable value today and for future generations.”

Entergy has named the successor to Leo Denault.

50-year-old Andrew “Drew” Marsh will take over as CEO on November 1.

Marsh has been with Entergy since 1998.

I am both grateful and honored by the confidence the board has placed in me, and I’m honored to follow in my colleague and friend Leo Denault’s footsteps,” said Drew Marsh. “I will uphold Entergy’s values and the strategy that he has instilled in our leadership team. I look forward to advancing our We Power Life vision as we continue our journey of becoming the premier utility for everyone.”