NRG Lifts Buybacks, Mulls Board Moves Amid Elliott Criticism (2)

NRG Energy Inc. said it is boosting share buybacks and plans to refresh its board after activist investor Elliott Investment Management LP criticized the US power producer over a recent acquisition.

The company said Thursday ahead of an investor presentation that it will now spend $2.7 billion on share repurchases through 2025, from $1 billion previously. Houston-based NRG also said it’s working with an executive search firm to add new directors.

Shares of NRG rose 3.3% at 2:15 p.m. in New York.

The announcement came just over a month after Elliott criticized NRG for what it called the “worst deal ...