Quanta Services, Inc. (PWR, Financial) has announced a significant change in its leadership team. Effective December 31, 2024, J. Redgie Probst has resigned from his position as Chief Operating Officer and principal operating officer of the company. The decision was made by Mr. Probst to allocate more time to his family, and it was clarified that his resignation was not due to any disagreements with the company regarding its operations, policies, or practices.
Despite stepping down from his executive role, Mr. Probst will continue to be part of Quanta Services in a non-executive capacity within one of its operating subsidiaries. His compensation package will be adjusted to reflect his new role during the company's annual compensation review process for 2025. However, he will still be eligible for any incentive compensation earned under Quanta's 2024 annual incentive plan, as determined by the Compensation Committee of the Board of Directors. Additionally, Mr. Probst will continue to participate in certain employee benefit plans and may receive future equity incentive awards at the discretion of the Chief Executive Officer and the Compensation Committee.
Following Mr. Probst's resignation, Earl C. (Duke) Austin, Jr., who is currently serving as the President and Chief Executive Officer of Quanta Services, has assumed the additional responsibilities of the principal operating officer. This transition marks a strategic move for the company as it continues to strengthen its leadership team and maintain its operational excellence.
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