Christian Schade Joins NRG as EVP and CFO
Christian Schade has joined NRG Energy, a company that owns and operates a diverse power generation portfolios, as executive vice president (EVP) and will assume the position of chief financial officer (CFO) in early May.
Most recently, Schade, was senior vice president administration and CFO at Medarex, a Princeton-based biopharmaceutical company acquired by Bristol-Myers
Squibb for US$2.4bn in September 2009. During his tenure, Schade helped Medarex grow to become a leading biopharmaceutical development company raising capital through a series of public capital market and asset monetisation transactions. Schade played a lead role in negotiations for the sale of Medarex to Bristol-Myers Squibb and, until recently, helped lead the merger-integration process of the research, development and administrative functions.
Prior to Bristol-Myers Squibb, Schade was a managing director in the debt capital markets group at Merrill Lynch, where, in London, he oversaw public and private capital-markets transactions for corporate clients throughout Europe, the Middle East and Africa (EMEA). Previously, he served in various corporate finance and capital market positions in New York and London for both Merrill Lynch and JP Morgan.
Schade graduated from Princeton University with a BA degree in History, and received a MBA degree from the Wharton School at the University of Pennsylvania.
Gerald Luterman, in addition to continuing his board of director responsibilities on the finance committee, served as NRG’s interim CFO since November 2009. He will remain as CFO through the release of first-quarter earnings and 10-Q filing, expected in early May 2010, and then expects to resume his role as an independent director and member of the NRG board of directors’ audit committee.