Changes in the Leadership Team for Hawaiian Electric Industries

Hawaiian Electric Industries, Inc. (NYSE: HE) (“HEI”) has announced leadership changes at HEI and its subsidiary, Hawaiian Electric Company, Inc. (“Hawaiian Electric”), effective October 1, 2023. HEI is a diversified company that provides energy and financial services, including its electric utility, Hawaiian Electric, serving approximately 95% of Hawai’i’s population.

Tayne Sekimura, Senior Vice President, CFO & Treasurer of Hawaiian Electric, will retire on September 30, 2023, after 32 years of service. Sekimura’s retirement plans were previously announced earlier this year.

Paul Ito, currently Executive Vice President, CFO & Treasurer of HEI, will temporarily serve as Senior Vice President, CFO & Treasurer of Hawaiian Electric until approximately December 31, 2024, due to the unexpected events of August.

Scott DeGhetto has been appointed Executive Vice President, CFO & Treasurer of HEI, effective October 1, 2023, until approximately December 31, 2024. DeGhetto joins HEI from Moelis & Company, bringing over 30 years of experience in the power, utility, and renewable energy sectors. After his term at HEI, DeGhetto will remain in an advisory role from approximately January 1, 2025, until April 1, 2025.

Scott Seu, President and CEO of HEI, expressed confidence in Paul Ito’s abilities to guide Hawaiian Electric through challenging times, emphasizing the importance of a seamless transition. He also thanked Tayne Sekimura for her dedication and contributions.

Paul Ito spoke about his commitment to supporting Hawaiian Electric’s recovery efforts and long-term goals. Scott DeGhetto expressed his honor in joining HEI and his connection to Hawai’i.

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