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Michael Childers, 45, is chief executive officer, Generation Development at TXU Corp. He brings over 20 years of broad and deep industry experience and has completed $9 billion in project financings, created $14 billion in value from acquisitions representing 18,700 megawatts and taken 5,000 megawatts of projects from development to construction.
Childers and his team will identify and execute generation and other related transactions for the corporation and develop and implement strategy for growing TXU's generation portfolio both within the boundaries of ERCOT as well as other desirable markets. They will also drive strategic transactions to unlock value trapped in TXU's vast portfolio of assets as well as help drive cultural changes towards a commercial, value-oriented organization.
Childers was recruited by Chief Executive Officer C. John Wilder in July 2005 as a key leader in TXU's growth and development team. Since his hiring, Childers has placed a renewed emphasis on transaction valuation, structuring and discipline in the execution phase of deals. His goal is to help create shareholder value through a transaction and value-oriented culture that exhibits all the entrepreneurial spirit, discipline and capabilities of today's finest private equity firms.
Childers will work across all the functional teams within the company on structuring and executing transactions. All aspects of the company's resources will be deployed on the deal teams to ensure that value and risks are properly quantified in every transaction.
Most of Childers's two decades in the energy industry have focused on development, finance, and mergers and acquisitions in the electric industry. Prior to coming to TXU, he was an executive vice president at The Shaw Group in charge of merger and acquisition activity globally. His career has also included many other executive positions within the energy sector. At The Shaw Group, he also served as president of the Stone & Webster subsidiary, with P&L responsibility for a division of over $1 billion in revenue. At Entergy Corporation, he reestablished the utility in the asset-acquisition, development and ownership business in the U.S. and international markets. He also reestablished Edison Mission Energy, a subsidiary of Edison International, in the North, Central and South American markets through developing and acquiring energy facilities a well as establishing a commodities trading organization.
A graduate of the University of San Diego, Childers has a B.B.A. with concentration in finance. He and his wife, Rebecca, live in Dallas with their daughter, Kendall, 20, and son, Garrett, 14.
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