Eversource Energy | Interfaith Center on Corporate Responsibility

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<h4>Resolution Details</h4>
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<strong>Company:</strong>
<p>Eversource Energy</p>
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<strong>Year:</strong>
<p>2026 </p>
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<strong>Issue Area:</strong>
<p>Corporate Governance </p>
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<strong>Focus Area:</strong>
<p>Independent Board Chairs </p>
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<strong>Status:</strong>
<p>Filed</p>
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<h2>Resolution Text</h2>
<p><strong>RESOLVED</strong>: Shareholders request that the Board of Directors adopt an enduring policy, and amend the governing documents as necessary in order that 2 separate people hold the office of the Chairman and the office of the CEO as soon as possible.</p>
<p><strong>SUPPORTING STATEMENT</strong>:</p>
<p dir=”ltr”>Selection of the Chairman of the Board the Board requires the separation of the offices of the Chairman of the Board and the Chief Executive Officer. <br> <br>The Chairman of the Board shall be an Independent Director. A Lead Director shall not be a substitute for an independent Board Chairman.<br> <br>The Board shall have the discretion to select an interim Chairman of the Board, who is not an Independent Director, to serve while the Board is seeking an Independent Chairman of the Board on an accelerated basis. This policy could be phased in when there is a contract renewal for our current CEO or for the next CEO transition although it is better to adopt it now.</p>
<p dir=”ltr”>This proposal topic won 47% support at the 2025 Eversource Energy annual meeting. This 47% support translated into more 50% support from the Eversource shares that have access to independent voting advice.</p>
<p dir=”ltr”>An independent Board Chairman at all times improves corporate governance by bringing impartiality, objective oversight, and external expertise to board decisions, mitigating conflicts of interest, enhancing transparency, and boosting investor confidence. </p>
<p dir=”ltr”>This detached perspective allows the chairman to focus on shareholder interests, strengthen management accountability, and provide critical checks and balances, ultimately contributing to the Company’s long-term sustainability and credibility. </p>
<p dir=”ltr”>This may be a particularly good time to consider the merits of this proposal. </p>
<p dir=”ltr”>Reports published in 2025 reflect unfavorably on Eversource Energy, with the main concerns centered on financial weakness, regulatory issues, and the troubled Revolution Wind offshore project. In September 2025, Fitch placed Eversource and its subsidiaries on “Rating Watch Negative.” This action was triggered by a Trump administration stop-work order on the Revolution Wind offshore farm. Also in 2025, Moody’s downgraded Connecticut Light & Power, a subsidiary of Eversource. <br><br>Quarterly reports in 2025 showed that Eversource’s parent recorded increased losses. These losses were attributed to higher interest expenses resulting from the sale of its offshore wind projects. Investors were also reacting negatively to potential cuts in federal clean energy funding. <br><br>In October 2025, an analysis by GuruFocus highlighted Eversource’s “poor” financial strength due to its high debt. The company’s long-term debt increased by $8 billion over the prior 3 years. Eversource failed to meet its revenue expectations in the second quarter of 2025, contributing to a decline in its stock price. News reports in 2025 frequently cited Connecticut’s challenging regulatory landscape as a risk factor.<br><br>Customer complaints filed with the Better Business Bureau in early 2025 reported inaccurate and unexpectedly high bills. Other customer complaints described large delivery rate hikes and fraudulent added fees. Complaints also mentioned unresponsiveness from customer service regarding technical issues and billing discrepancies. </p>

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<h3>Lead Filer</h3>
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<div class=”views-field views-field-nothing”><span class=”field-content”> John Chevedden</span></div><div class=”views-field views-field-title views-field-field-shareholder”><span class=”field-content”>Chevedden Corporate Governance</span></div>
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Separate Chair & CEO