Experienced global executive with track record of optimizing financial management across a variety of industries and platforms will lead company's treasury function
THE WOODLANDS, Texas, Aug. 1, 2022 /PRNewswire/ -- Talen Energy Supply ("TES" or "the Company") announced today that Rajat Prakash has joined the Company in the role of Vice-President, Treasurer. Mr. Prakash has over 20 years of experience in treasury and corporate finance functions with a proven track record in capital markets, capital structure, operational finance and strategic transactions.
Reporting to Chief Financial Officer John Chesser, Prakash will lead the Company's treasury, cash management, capital markets and insurance functions and collaborate with its corporate finance, financial planning, risk and investor relations teams to optimize its capital structure and position TES for future value creation.
"I am pleased to welcome Rajat to TES," said John Chesser, Chief Financial Officer. "Rajat's extensive experience in leading treasury strategies for large organizations in both public and sponsor-backed environments, strong relationships with banks and other market stakeholders, and successful track record of driving results within financial restructurings and other challenging situations will help us to capitalize on opportunities to grow TES's enterprise value as we complete our strategic recapitalization."
Prior to joining TES, Prakash served as Vice President, Treasurer for Bed Bath & Beyond where he helped to establish a standalone corporate treasury function, led amendment and extension of a $1 billion asset-based credit facility, optimized its capital structure through $1 billion in share repurchases, and implemented effective risk mitigation strategies and insurance programs. Previous to his tenure with Bed Bath & Beyond, he held roles of increasing responsibility at Sears Holdings Corporation, a broadline retailer owned by ESL Investments, a privately run hedge fund. These roles included Assistant Treasurer, where he led the treasury function and managed a $20 billion capital markets program, and Director of Finance, where he generated $6 billion in economic value through risk and capital management activities.
A graduate of The University of Chicago Booth School of Business, Prakash earned a Master of Business Administration degree in Finance, Accounting, and International Business. He received a Bachelor of Engineering degree from the National Institute of Technology, Allahabad, India.
Mr. Prakash volunteers his time as a consultant for 1871, Chicago, the world's largest startup incubator, where he advises companies in technology, consumer, healthcare, and logistics on raising capital, valuations, and operations.
About Talen Energy Supply
TES, a subsidiary of Talen Energy Corporation ("TEC"), is one of the largest competitive power generation and infrastructure companies in North America. TES owns and/or controls approximately 13,000 megawatts of generating capacity in wholesale U.S. power markets, principally in the Mid-Atlantic, Texas and Montana.
TES and TEC subsidiary, Cumulus Growth, are developing a large-scale portfolio of renewable energy, battery storage, and digital infrastructure assets across TES's expansive footprint. For more information visit, https://www.talenenergy.com/esg-efforts/.
Director Corporate Communications
SOURCE Talen Energy Supply, LLC