Talen Energy Names New CEO; Announces $1.5 Billion Accelerated Share Repurchases, Raises Repurchase Capacity to $3 Billion

04:35 PM EDT, 09/29/2026 (MT Newswires) -- Talen Energy (TLN) said late Tuesday it has planned a CEO succession, $1.5 billion accelerated share repurchase transactions, and an upsized $3.0 billion share repurchase program. The board has appointed Terry Nutt as Talen's next chief executive officer, effective Jan. 1, 2027. Nutt, currently the company's president, will also join the board upon his appointment as CEO. Mac McFarland will remain CEO and a member of the board through Dec. 31, and will then become a senior advisor until his retirement in March 2027, the company said. The board also raised the remaining capacity under the share repurchase program to $3.0 billion through Dec. 31, 2028. The authorization includes the $1.5 billion accelerated share repurchase agreements, leaving $1.5 billion available for further repurchases through 2028, the company added. The uncollared accelerated share repurchase transactions are expected to be completed by the end of Q1 2027 and, at the current stock price, would repurchase more than 10% of Talen's shares outstanding.