Juno Beach, Fla.-based FPL Group Inc. has announced a proposal to amend its restated articles of incorporation to change its name to NextEra Energy Inc. The amendment has been approved by FPL Group's board of directors and is being submitted to shareholders for approval at the company's annual meeting, which is scheduled for May 21.
The change is intended to better reflect the company's scale as a large provider of renewable energy. In addition to more appropriately reflecting the company's present-day business, the change will help distinguish between the company and its utility subsidiary, Florida Power & Light Co., according to FPL Group.
FPL Group's principal subsidiaries – NextEra Energy Resources LLC and Florida Power & Light Co.- will maintain their current names. The change will not impact the operations or customers of these subsidiary companies.
The company plans to file a preliminary proxy statement with the Securities and Exchange Commission, which includes a proposal to amend the company's restated articles of incorporation to change the company's name. The company expects to file its definitive proxy statement in early April 2010.
After the name is formally adopted, the company plans to change its New York Stock Exchange ticker symbol from FPL to NEE.
SOURCE: FPL Group Inc. Â