Christian Schade, former CFO of Medarex, has been named executive vice president and CFO of NRG Energy.
Shade served as senior vice president and CFO of Medarex, overseeing its September acquisition by Bristol-Myers Squibb. Medarex was the developer of antibody therapies that was bought by BMS for $2. billion in an effort to make BMS more competitive in that arena.
Medarex was based on State Road.
The 48-year-old Schade, who earned his bachelor’s in history from Princeton and an MBA from Penn, begins his tenure as executive vice president immediately and will assume the position of CFO in May. He will replace Gerald Luterman, who was named interim CFO at NRG in November. NRG says Luterman will resume his original duties as an independent director and board member for NRG when Schade takes over.
“Chris has a proven record of creating value at highly entrepreneurial and fast-growing companies,,” said CEO David Crane in a statement. “Chris , will play an instrumental role in formulating capital allocation strategies and driving performance across our traditional generation assets and growth platforms.”
Prior to Bristol-Myers Squibb, from 1992 to 2000, Schade was a managing director in the debt capital markets group at Merrill Lynch in London, where he oversaw public and private capital-markets transactions for corporate clients throughout Europe, Africa, and the Middle East. Before that he served in various corporate finance and capital market positions in New York and London for both Merrill Lynch and JP Morgan. He also serves on the board of directors at Integra Life Sciences.
NRG Energy Inc. (NRG), 211 Carnegie Center,Princeton 08540-6213; 609-524-4500; fax, 609-524-4501. David Crane, president and CEO. Home page: www.nrgenergy.com.