Ralph LaRossa is leaving his post as president and chief operating officer of Public Service Electric & Gas for a new position in the Public Service Enterprise Group family, PSEG announced Friday.
LaRossa, who has led the New Jersey’s largest utility for more than a decade, will become the president and COO of PSEG’s merchant generation business, PSEG Power. In this role, he is replacing Bill Levis, who announced his retirement in December. PSEG Power is an independent power producer that generates and sells electricity in the regional PJM, New York and New England wholesale markets.
“In his career at PSE&G, Ralph has demonstrated the right skills to step into this key leadership role,” PSEG Chairman, CEO and President Ralph Izzo said in a prepared statement. “For the past decade, Ralph has successfully led PSE&G through the largest capital program in its history. During this period, he led the recovery from Superstorm Sandy and maintained a focus on operational reliability and the eneds of our customers. Ralph has demonstrated strong leadership and is respected across PSEG and the industry as he assumes this role as PSEG Power.”
Meanwhile, David M. Daly, president and COO of PSEG Long Island, has been chosen to replace LaRossa as president and COO of PSE&G, as well as chairman of PSEG Long Island.
“Dave has demonstrated strong leadership capabilities at PSEG Long Island, and has been instrumental in achieving improvements in utility operations and customer satisfaction,” Izzo said. “I am confident that, under Dave, the PSE&G team will continue to meet customer expectations by maintaining a focus on service quality through programs that modernize and upgrade the system.”
LaRossa joined PSE&G in 1985 as an associate engineer and worked his way up through a variety of management roles to his current post.
“I thoroughly appreciate the trust that Ralph Izzo and the board have placed in me,” he said in a statement. “I look forward to this new role working with the dedicated men and women of PSEG Power. I will do this with a close eye on operating safely and efficiently as we complete construction of PSEG Power’s three new gas-fired combined cycle generators.”
Daly began at PSE&G in 1983, and was named president and COO of PSEG Long Island in October 2013, overseeing the transition of the utility to PSEG management.
“This is an extraordinary honor,” he said in a statement. “I look forward to working with the great men and women of PSE&G, and plan to maintain our commitment to shareholder value, safe and reliable service and the highest levels of community involvement.”
The changes are effective Oct. 2, which PSEG said allows time for a smooth transition of leadership.
“Moreover, the broadening of Ralph’s background is consistent with our long-term succession planning efforts,” Izzo said.
LaRossa has been a regular member of the NJBIZ Power 100 list of the most powerful people in New Jersey business, for his role at PSE&G. In the 2017 list, he and Izzo shared the No. 22 ranking.
PSEG and its New Jersey subsidiaries are based in Newark.