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Section 1: 8-K (8-K)

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: December 9, 2019
Exact Name of Registrant
Commission
I.R.S. Employer
as Specified in Its Charter
File Number
Identification No.
Hawaiian Electric Industries, Inc.
1-8503
99-0208097
Hawaiian Electric Company, Inc.
1-4955
99-0040500
State of Hawaii
(State or other jurisdiction of incorporation)
 1001 Bishop Street, Suite 2900, Honolulu, Hawaii  96813 - Hawaiian Electric Industries, Inc. (HEI)
1001 Bishop Street, Suite 2500, Honolulu, Hawaii  96813 - Hawaiian Electric Company, Inc. (Hawaiian Electric)
(Address of principal executive offices and zip code)
 Registrant’s telephone number, including area code:
 (808) 543-5662 - HEI
(808) 543-7771 - Hawaiian Electric
 Not applicable
(Former name or former address, if changed since last report.)
  
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to 12(b) of the Act:
Registrant
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Hawaiian Electric Industries, Inc.
Common Stock, Without Par Value
HE
New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule12b-2 of the Securities Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
Hawaiian Electric Industries, Inc.
Hawaiian Electric Company, Inc.
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Hawaiian Electric Industries, Inc.
Hawaiian Electric Company, Inc.




Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 10, 2019, Hawaiian Electric Company, Inc. (“Hawaiian Electric”), subsidiary of Hawaiian Electric Industries, Inc., announced that Scott Seu will become the next President and Chief Executive Officer of Hawaiian Electric after an orderly transition during the first quarter of 2020.  Alan Oshima will stay with Hawaiian Electric as Senior Executive Advisor to assist Mr. Seu with various ongoing programs until he retires later in 2020. 
 
Item 7.01. Regulation FD Disclosure.

A copy of the press release announcing the selection of Scott Seu to serve as President and Chief Executive Officer of Hawaiian Electric and Mr. Oshima’s transition to the position of Senior Executive Advisor is attached hereto as Exhibit 99.1.

Item 9.01.  Financial Statements and Exhibits.
 
(d) Exhibits    
 
News release, dated December 10, 2019, “Scott Seu named president and CEO of Hawaiian Electric, Succession plan for CEO Alan Oshima set for early 2020”
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)




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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrants have duly caused this report to be signed on their behalf by the undersigned thereunto duly authorized. The signature of the undersigned companies shall be deemed to relate only to matters having reference to such companies and any subsidiaries thereof.

HAWAIIAN ELECTRIC INDUSTRIES, INC.
HAWAIIAN ELECTRIC COMPANY, INC.
(Registrant)
(Registrant)
/s/ Gregory C. Hazelton
/s/ Tayne S. Y. Sekimura
Gregory C. Hazelton
Tayne S. Y. Sekimura
Executive Vice President and
Senior Vice President and
Chief Financial Officer
Chief Financial Officer
 
 
 
 
Date: December 10, 2019
Date: December 10, 2019
 
 

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Section 2: EX-99.1 (EXHIBIT 99.1)

Exhibit
        
EXHIBIT 99



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NEWS RELEASE

CONTACT:     Jim Kelly, 808.543.4915                 FOR IMMEDIATE RELEASE
[email protected]hawaiianelectric.com

Scott Seu named president and CEO of Hawaiian Electric
Succession plan for CEO Alan Oshima set for early 2020

HONOLULU, Dec. 10, 2019 – Scott Seu, senior vice president at Hawaiian Electric Company, will succeed Alan Oshima as president and chief executive officer of the company effective in the first quarter of 2020.

Oshima has led Hawaiian Electric and its subsidiaries, Maui Electric and Hawaii Electric Light, since 2014.

“Scott has been a leader of Hawaiian Electric’s transformation into a more customer-focused enterprise that not only delivers on being a reliable, responsive energy provider but is also a trusted partner in achieving our state’s sustainability goals,” said Tim Johns, a member of the board of Hawaiian Electric.

Seu, 54, is a graduate of Kamehameha Schools and received his bachelor’s and master’s degrees in mechanical engineering from Stanford University. He joined Hawaiian Electric in 1993 and has held a number of key leadership positions across the company, including in the areas of environmental management, customer programs, renewable energy development, system operations and community engagement.

Johns said the selection of a new CEO was part of the board’s ongoing multiyear executive succession strategy. As part of that plan, Oshima will work with Seu for the next several months on the leadership transition and will serve as senior executive advisor to the company for the rest of 2020.

“We have the plans in place to significantly reduce greenhouse gas emissions and our use of fossil fuels over the next decade and with his unique experience in operations and working with the community, I know Scott is the right person to get it done,” Oshima said. “This leadership transition ensures that our pace continues accelerating toward our clean energy goals.”

Since 2017, Seu has overseen the company’s regulatory, government and community affairs, and corporate relations departments. He previously served as vice president of system operations and is one of the company’s leaders on cybersecurity issues, working as a liaison with the military and federal and state agencies.

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Scott Seu named president
and CEO
Page 2 of 2
December 10, 2019


With the rising threat of storm events related to climate change, Seu has also helped lead the company’s resilience initiatives, focusing on community awareness and building stronger relationships with key public and private stakeholders.

“Growing up in Hawaii and in the company, I feel a profound sense of duty to help chart the course for our future generations,” Seu said. “This is a critical time in our state’s clean energy transformation and as I talk to people it’s clear that there are many different visions of the best way forward. That means our work isn’t just about technology, but about pulling together as a community to collaborate and understand the choices we can make. I am humbled and honored to serve our community, our customers, and our employees as the next leader of Hawaiian Electric.”

Internally, Seu leads the implementation of the “One Company” transformation strategy, which brings together the best practices of Hawaiian Electric, Maui Electric and Hawaii Electric Light to reduce duplication, share resources and maximize efficiency to provide savings to customers while continuing to honor the cultures and meet the needs of each island’s communities.

Seu is board chair of Hale Kipa and Hawaii Green Growth. He also serves as a board member for Teach for America Hawaii, and supports the University of Hawaii at Manoa’s College of Engineering as a member of the Dean’s Council.

Constance Lau, president and CEO of Hawaiian Electric Industries, the parent company of Hawaiian Electric, thanked Oshima for his leadership over the past five years, especially his emphasis on transparency, follow-through and clear communication with customers, stakeholders and regulators.

“Alan has led us through such an important time in our 128-year history and I’m grateful for his commitment to our customers, our company and Hawaii,” Lau said. “There’s even more work ahead and I know Scott and his team will continue to work closely with our communities to achieve our clean energy future.”




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