Armando J. Olivera has retired as president of Florida Power & Light Co. (FPL) and will retire as CEO in May, according to a company news release. Olivera made the announcement following his 40th anniversary with the Juno Beach, Fla., company.
He will be succeeded as CEO on May 2 by Eric Silagy, who succeeded him as president on Dec. 11. Silagy was the company's senior vice president of regulatory and state government affairs.
"Under Armando's leadership, our investments have provided FPL customers with the lowest bill in the state, reliability that is in the top quartile nationally, emissions that are far lower than the national average and award-winning service," Lew Hay, chairman and CEO of NextEra Energy Inc., said.
Olivera joined Florida Power & Light Company in 1972 as an engineer trainee. He served in numerous capacities in the business, including as senior vice president of FPL's power systems business unit, before being named to his current role in 2003.
He holds a bachelor of science degree in electrical engineering from Cornell University and an MBA the University of Miami. He is a member of the board and a past chairman of the Florida Reliability Coordinating Council (FRCC), a member of the board of Enterprise Florida, a member of the Florida Council of 100 and a member of the Cornell University Board of Trustees.
FPL is the largest electric utility in Florida and one of the largest rate-regulated utilities in the United States. It serves 4.5 million customer accounts in Florida and is a leading employer in the state with approximately 10,000 employees.
