The retirement at the end of 2001 of James L. Broadhead as chairman of FPL Group brings to an end a 13-year tenure marked by significant growth and marked improvement in the company's financial and operating performance.

During this period, FPL's power capability expanded by approximately 20 percent while non-utility generating capacity increased from less than 100 megawatts to more than 5,000. Overall, FPL Group's power capability, including purchased power, grew almost 50 percent to nearly 24,000 megawatts. This helped to more than double from the end of 1990 through the end of 2001 the value of FPL Group and rewarded shareholders with an annualized total return well above the industry average. Customers, meanwhile, were rewarded with the lowest electric rates since 1984.

James L. Broadhead