Board of Directors

Hilary E. Ackermann, chair of the sustainability and risk committee: Ackermann brings extensive experience assessing credit for major banking institutions, covering a variety of industries including the power generation, electrical utilities, and natural resources sectors, as well as in depth coverage of commodities trading including, oil, natural gas, and power as a risk manager. Previously, Ackermann served on the board of Dynegy and, prior to that, was chief risk officer with Goldman Sachs Bank USA. Ackermann served as managing director, credit department of Goldman, Sachs & Co., as VP, credit department, and as an associate in the credit department. Prior to joining Goldman, Sachs, Ackermann served as assistant department head of Swiss Bank Corporation.

Arcillia Acosta has served as the President and Chief Executive Officer of CARCON Industries and Construction, a company specializing in commercial, institutional, and transportation construction, since 2000. In addition to her role at CARCON Industries, Ms. Acosta is the President and controlling principal of Southwestern Testing Laboratories, a position she has held since 2003. In addition to her role at Southwestern Testing Laboratories, she served as a director of LegacyTexas Financial Group, N.A. (“LegacyTexas”), a publicly-traded bank holding company with an asset size of over $10 billion, from 2015 to 2019, when LegacyTexas merged with a private company. Prior to joining the board of LegacyTexas, Acosta had served since 2013 as a director of LegacyTexas’ bank subsidiary. Ms. Acosta served as a director of ONE Gas Incorporated, a stand-alone, regulated, publicly-traded natural gas utility and one of the largest natural gas utilities in the United States, from July 2018 through February 2020. In 2017, Ms. Acosta joined the board of Magnolia Oil and Gas, a publicly-traded independent oil producer with assets located in South Texas.

Gavin Baiera, chair of the compensation committee: Gavin Baiera is a senior managing director at Centerbridge Partners, L.P, which is a multi-strategy private investment firm focused on leveraged buyouts and distressed securities. He recently served as a managing director at Angelo, Gordon & Co., where he was the global head of the firm’s corporate credit activities and portfolio manager for its distressed funds. Baiera was also a member of the firm’s executive committee. Prior to joining Angelo, Gordon in 2008, Baiera was the co-head of the strategic finance group at Morgan Stanley, which was responsible for all origination, underwriting, and distribution of restructuring transactions. Prior to that, Baiera worked at General Electric Capital Corporation, concentrating on underwriting and investing in restructuring transactions. Baiera, who began his career at GE Capital in its financial management program, has served on numerous boards of directors including, most recently, MACH Gen, Orbitz Worldwide, and Travelport Worldwide. He received a bachelor’s degree from Fairfield University and a master’s of business administration from the University of Southern California.

Paul M. Barbas, chair of the nominating and governance committee: Paul M. Barbas brings extensive utility, management, and oversight experience, having served in executive management positions with various utility and other companies. Barbas most recently served on the board of directors of Dynegy. Previously, he was president and CEO of DPL Inc. and its principal subsidiary, The Dayton Power and Light Company (DP&L), and he also served on the board of directors of DPL Inc. and DP&L. He previously served as executive vice president and COO of Chesapeake Utilities Corporation, a diversified utility company engaged in natural gas distribution, transmission, and marketing, propane gas distribution and wholesale marketing, and other related services, and he was executive vice president of Allegheny Power. Barbas also serves on the public board of Pepco Holdings, Inc.

Lisa Crutchfield has served as a managing principal at Hudson Strategic Advisors, an economic analysis and strategic advisory firm, since 2012. Previously, Ms. Crutchfield served as the chief regulatory, risk, and compliance officer for the U.K.-based National Grid plc from 2008 to 2012. Ms. Crutchfield has also served in successive executive roles as senior vice president of regulatory and external affairs at PECO, an Exelon Company; vice president and general manager at TIAA-CREF; and vice president of energy policy and strategy with Duke Energy Corporation from 1997 to 2000. She began her career in banking as a commercial and investment banker and served as a commissioner on the Pennsylvania Public Utility Commission from June 1993 to May 1997. In addition to her service as a director, Ms. Crutchfield serves on the boards of two other publicly-traded companies, Fulton Financial Corporation (since 2014) and Unitil Corporation (since 2012).

Brian Ferraioli, chair of the audit committee: Brian Ferraioli most recently served as executive vice president and chief financial officer of KBR, Inc., a global engineering, construction, and services company supporting the energy, petrochemicals, government services, and civil infrastructure sectors. Prior to KBR, Ferraioli was chief financial offer at The Shaw Group, Inc., an engineering, construction, and fabrication company serving the electric power generation and government services industries. Prior to that, Ferraioli worked 28 years in various finance and accounting functions with Foster Wheeler AG, a Swiss global conglomerate that provides design, engineering, construction, manufacturing, development, and plant operations. In addition to Vistra Energy, Ferraioli serves on the boards of Team, Inc. and Charah Solutions, Inc. and previously served on the boards of Babcock & Wilcox Enterprises, its predecessor company, Babcock & Wilcox, Inc., and Adolfson & Peterson, a private construction company. Ferraioli graduated with a bachelor’s degree in accounting from Seton Hall University and received a master of business administration from Columbia University.

Scott Helm, board chair: Scott Helm is a private investor based out of Baltimore. Previously, Helm was a founding partner of Energy Capital Partners, a private equity firm focused on investing in North American energy infrastructure. Prior to joining Energy Capital Partners, he served as executive vice president and chief financial officer at Orion Power Holdings, Inc., a publicly listed company that owned and operated power plants. Before that, he worked as a consultant to the private equity consortium leading the acquisition at Texas Genco. Helm began his career at Goldman Sachs & Co., first working in the company’s fixed income division then moving to the investment banking division. He received a bachelor’s degree in business administration from Washington University. Helm serves as treasurer on the board of the Chesapeake Shakespeare Company.

Jeff Hunter: Jeff Hunter is a managing member of Waterloo Capital Management. Prior to joining Waterloo, Hunter was the co-founder, managing partner and chief financial officer for Power Capital Advisors, LLC, where he managed the corporate development, due diligence and project financing functions. Previously, Hunter was a co-founder, executive vice president and chief financial officer of US Power Generating Company, a privately held merchant power company that acquired, financed and operated a portfolio of five conventional power stations located in New York, New York and Boston, Massachusetts. Prior to USPowerGen, Hunter was a partner at PA Consulting Group and principally responsible for managing the global energy strategy and risk management practice. Hunter currently serves on the board of directors of US Power Generating Company and Texas Transmission Holdings.

Curt Morgan: Since October 2016, Curtis, “Curt,” Morgan has served as president and chief executive officer of Vistra Energy. Prior to joining Vistra Energy, Morgan was an operating partner at Energy Capital Partners, a private equity firm focused on investing in North America’s energy infrastructure. He joined the firm in 2015 and was involved in all areas of the firm’s investment activities, with a particular emphasis on origination, diligence and portfolio company governance and oversight, across all of Energy Capital’s sectors of investments. During his 35-year career, Morgan has held leadership responsibilities in nearly every major U.S. power market. Prior to joining Energy Capital, he served as the president and CEO of both EquiPower Resources Corp. and FirstLight Power Resources, Inc. He recently served as a director of Summit Midstream General Partner at Summit Midstream Partners. He has also held leadership positions at NRG Energy, Mirant Corporation, Reliant Energy and BP Amoco. Morgan has served on the board of directors of the Electric Power Supply Association, the competitive power generation industry organization, and on the board of Prevent Child Abuse Georgia. A certified public accountant, Morgan received a bachelor’s degree in accounting from Western Illinois University and a master’s of business administration in finance and economics from the University of Chicago.

John R. Sult: Through his experience in senior executive financial positions with large public companies, John R. Sult brings significant knowledge of accounting, capital structures, finance, financial reporting, strategic planning, and forecasting, in addition to extensive knowledge of the energy industry. Sult served on the board of directors of Dynegy from 2012 to 2018. Previously, he was executive vice president and CFO of Marathon Oil Corporation, and was executive vice president and CFO of El Paso Corporation prior to that. Prior to joining El Paso, Sult served as vice president and controller of Halliburton Energy Services, and prior to joining Halliburton, Sult managed an independent consulting practice that provided a broad range of finance and accounting advisory services and assistance to public companies in the energy industry. Prior to private practice, Sult was an audit partner with Arthur Andersen LLP. Sult also currently serves on the board of directors of Jagged Peak Energy, Inc.