organizational changes we are making a number of significant organizational changes . these changes
are intended to accomplish four key objectives :
first , we need to realign all our wholesale businesses around the successful
business model developed over the last decade in north america and europe .
this model relies on extensive physical and transactional networks built
around a relatively small strategic asset position .
second , we need to significantly streamline corporate reporting
relationships . particularly with joe sutton  , s departure , the ability to
directly manage the day - to - day activities of 15 independent business units
has become increasingly difficult .
third , we need to accomplish these changes without , in any way , compromising
the ongoing profitability of all our businesses and without delaying or
hindering our effort to monetize a significant portion of our lower - yielding
asset positions .
and fourth , as always , we need to take advantage of the reorganization to
redeploy our talent into our highest value opportunities .
enron wholesale services
today , we are forming enron wholesale services ( ews ) which will consolidate
our global wholesale businesses . the closer alignment of our wholesale
businesses will accomplish the following : ( 1 ) enhanced communication and
coordination across business units , ( 2 ) more rapid deployment of people to
higher valued opportunities , ( 3 ) more effective prioritization of
opportunities across the wholesale business , and ( 4 ) more rapid extension of
enron  , s wholesale business model and capabilities into new industries and
markets .
enron wholesale services will include our current north american , european
( including japan and australia ) , global markets , and industrial markets
operations , and will be expanded to include enron  , s net works business unit
as well as a new unit  ) enron global assets . in addition , enron  , s merchant
businesses outside of north america and europe will be integrated into this
new structure as described below .
mark frevert , currently chairman of each of our wholesale units , will assume
the role of chairman and ceo of enron wholesale services . greg whalley ,
currently chairman and ceo of enron net works , will join mark in the office
of the chairman as president and chief operating officer .
providing further impetus for these organizational changes , several of our
international business unit leaders have elected to move into new leadership
positions :
rebecca mcdonald , currently ceo of enron apachi , will join ews as president
and ceo of enron global assets . enron global assets will have responsibility
for managing all of enron  , s existing energy asset portfolio outside of north
america and europe . joining rebecca in the office of the chairman as coo
will be jim hughes , currently coo of enron apachi . rebecca and jim will
report to the ews office of the chairman .
sanjay bhatnagar , currently ceo of enron india , has joined ebs as ceo for the
middle east and asia region . sanjay will be responsible for building our
broadband business in this region and the current ebs team in this region
will report to sanjay . in this role , sanjay will report to the ebs office of
the chairman . in addition , sanjay will continue to remain responsible for
enron  , s wholesale energy business in india and will transition this business
into enron global assets in the near future .
diomedes christodoulou , currently co - ceo of enron south america , has joined
ebs as chief commercial officer . diomedes will be located in london and will
focus his origination activities on global opportunities , with near term
attention to the wholesale and enterprise sectors . diomedes will report to
the ebs office of the chairman .
jim bannantine , currently co - ceo of enron south america , will be joining ees
to lead ees  , commercial efforts outside north america and europe . in order
to ensure a smooth transition for our south american businesses and to
facilitate our asset sales activities , jim will remain in south america for
at least the next several months and continue to serve as ceo of enron south
america . throughout the transition , jim will report to cliff baxter and to
the office of the chairman of enron wholesale services . following the
transition , jim will join ees .
in addition to these changes in our international asset operations
activities , we are making the following changes in our merchant wholesale
businesses and the commercial support functions :
enron net works
louise kitchen will assume greg  , s previous responsibilities as president and
ceo of enron net works , reporting into mark and greg .
enron americas
concurrent with the transfer to enron global assets of responsibility for
operating enron  , s south and central america asset base , all trading ,
marketing , and new asset development activities in these regions will report
into a new entity , enron americas . enron americas will have responsibility
for all wholesale merchant businesses across north , central and south
america . dave delainey , president and ceo , and john lavorato , chief
operating officer will comprise the office of the chairman for enron
americas .
enron europe
the enron europe organization , which includes enron  , s businesses in australia
and japan , and enron metals , remains unchanged under the leadership of john
sherriff , president and ceo , and michael brown , chief operating officer .
enron global markets
enron global markets , under the leadership of mike mcconnell , president and
ceo , and jeff shankman , chief operating officer , will continue to have
responsibility for enron  , s middle east and lng operations . with the
exception of ecoelectrica in puerto rico , all operating power plants and
associated personnel in the caribbean and central america will transfer to
enron global assets . enron global markets will also continue to manage the
commodity businesses in crude and products , coal , weather , insurance ,
equities , interest rates , foreign exchange , and agricultural products .
enron industrial markets
enron industrial markets  , organization , under the leadership of jeff mcmahon ,
president & ceo , and ray bowen , chief operating officer , remains unchanged .
commercial support for ews
the commercial support functions for ews will remain with , and be managed by ,
the individual business units . we are creating no incremental overhead in
the creation of ews , and in fact hope to reduce our operating costs by more
efficient utilization and sharing of resources across ews .
to this end we have asked several people to take on an expanded role across
ews in addition to their ongoing roles within their business units . these
newly defined roles are as follows :
mid and back office operations  ) sally beck will lead mid and back office
operations across ews . these services will become part of enron net works ,
with sally reporting to louise kitchen and rick causey , executive vice
president and chief accounting officer . this alignment creates a coordinated
services organization with it and e - commerce platforms to support the
wholesale businesses and to maximize opportunities to commercialize these
services . mid and back office services for all commercial activities will
continue to be organized with dedicated operations controllers responsible
for specific commodities and / or geographic locations .
legal  ) mark haedicke will serve in the role of general counsel for ews .
regulatory and government affairs  ) this function will remain organized on a
regional basis . rick shapiro will support all ews businesses operating in
the americas , and mark schroeder , who is based in london , will support all
european and eastern hemisphere operations . rick and mark will also continue
to support all other enron businesses operating in their respective regions
and will continue to report to steve kean , executive vice president and chief
of staff .
public relations  ) this function is also organized primarily on a regional
basis . eric thode will have responsibility for north american activity ,
enron net works , and enron industrial markets . jackie gentle will continue
in her role for enron europe ( including japan and australia ) and john ambler
will have responsibility for activity outside north america and europe as
well as providing support for enron global markets and enron global assets .
these individuals will also continue to have a split reporting relationship
to mark palmer , vice president of communications .
business analysis and reporting  ) wes colwell will expand his role to cover
ews reporting in addition to his current role in north america .
attached for your review is an organization chart for enron wholesale
services which summarizes the changes described here . as this organization
continues to evolve we will keep you informed of any additional changes .
enron global exploration and production
and enron wind
as part of our company - wide initiative to examine our assets and investments
around the world , we are considering a variety of options with respect to
egep and ewc . as a consequence , we are putting these businesses under cliff
baxter  , s direction . jeff sherrick , ceo of egep , and jim noles , ceo of enron
wind , will report to cliff .
corporate staff
we are consolidating the corporate staff functions : human resources ,
government affairs , public relations / communications and administration . in
that regard , cindy olson , executive vice president of human resources and
community relations , will report to steve kean , executive vice president and
chief of staff .
committee structure
in light of the increased leadership opportunities created by enron  , s
growth , the executive committee will be expanded to include more of our
business unit leaders . the primary role of this committee will continue to
be the communication of relevant information across enron  , s businesses and
the coordination of activities across those businesses . we will also be
drawing on this group to lead company - wide initiatives such as the
performance review process and evaluation and creation of new businesses .
the executive committee membership is shown on the attached list .
we are also forming a new committee  ) the enron corporate policy committee .
this group will be responsible for overall corporate policy , personnel
management policy and corporate strategy . the enron corporate policy
committee membership is also shown on the attached list .
we are confident that these changes will align our talent and our capital to
our highest return opportunities . please join us in congratulating and
supporting all of these individuals in their new roles .
organizational changes
we are making a number of significant organizational changes . these changes
are intended to accomplish four key objectives :
first , we need to realign all our wholesale businesses around the successful
business model developed over the last decade in north america and europe .
this model relies on extensive physical and transactional networks built
around a relatively small strategic asset position .
second , we need to significantly streamline corporate reporting
relationships . particularly with joe sutton  , s departure , the ability to
directly manage the day - to - day activities of 15 independent business units
has become increasingly difficult .
third , we need to accomplish these changes without , in any way , compromising
the ongoing profitability of all our businesses and without delaying or
hindering our effort to monetize a significant portion of our lower - yielding
asset positions .
and fourth , as always , we need to take advantage of the reorganization to
redeploy our talent into our highest value opportunities .
enron wholesale services
today , we are forming enron wholesale services ( ews ) which will consolidate
our global wholesale businesses . the closer alignment of our wholesale
businesses will accomplish the following : ( 1 ) enhanced communication and
coordination across business units , ( 2 ) more rapid deployment of people to
higher valued opportunities , ( 3 ) more effective prioritization of
opportunities across the wholesale business , and ( 4 ) more rapid extension of
enron  , s wholesale business model and capabilities into new industries and
markets .
enron wholesale services will include our current north american , european
( including japan and australia ) , global markets , and industrial markets
operations , and will be expanded to include enron  , s net works business unit
as well as a new unit  ) enron global assets . in addition , enron  , s merchant
businesses outside of north america and europe will be integrated into this
new structure as described below .
mark frevert , currently chairman of each of our wholesale units , will assume
the role of chairman and ceo of enron wholesale services . greg whalley ,
currently chairman and ceo of enron net works , will join mark in the office
of the chairman as president and chief operating officer .
providing further impetus for these organizational changes , several of our
international business unit leaders have elected to move into new leadership
positions :
rebecca mcdonald , currently ceo of enron apachi , will join ews as president
and ceo of enron global assets . enron global assets will have responsibility
for managing all of enron  , s existing energy asset portfolio outside of north
america and europe . joining rebecca in the office of the chairman as coo
will be jim hughes , currently coo of enron apachi . rebecca and jim will
report to the ews office of the chairman .
sanjay bhatnagar , currently ceo of enron india , has joined ebs as ceo for the
middle east and asia region . sanjay will be responsible for building our
broadband business in this region and the current ebs team in this region
will report to sanjay . in this role , sanjay will report to the ebs office of
the chairman . in addition , sanjay will continue to remain responsible for
enron  , s wholesale energy business in india and will transition this business
into enron global assets in the near future .
diomedes christodoulou , currently co - ceo of enron south america , has joined
ebs as chief commercial officer . diomedes will be located in london and will
focus his origination activities on global opportunities , with near term
attention to the wholesale and enterprise sectors . diomedes will report to
the ebs office of the chairman .
jim bannantine , currently co - ceo of enron south america , will be joining ees
to lead ees  , commercial efforts outside north america and europe . in order
to ensure a smooth transition for our south american businesses and to
facilitate our asset sales activities , jim will remain in south america for
at least the next several months and continue to serve as ceo of enron south
america . throughout the transition , jim will report to cliff baxter and to
the office of the chairman of enron wholesale services . following the
transition , jim will join ees .
in addition to these changes in our international asset operations
activities , we are making the following changes in our merchant wholesale
businesses and the commercial support functions :
enron net works
louise kitchen will assume greg  , s previous responsibilities as president and
ceo of enron net works , reporting into mark and greg .
enron americas
concurrent with the transfer to enron global assets of responsibility for
operating enron  , s south and central america asset base , all trading ,
marketing , and new asset development activities in these regions will report
into a new entity , enron americas . enron americas will have responsibility
for all wholesale merchant businesses across north , central and south
america . dave delainey , president and ceo , and john lavorato , chief
operating officer will comprise the office of the chairman for enron
americas .
enron europe
the enron europe organization , which includes enron  , s businesses in australia
and japan , and enron metals , remains unchanged under the leadership of john
sherriff , president and ceo , and michael brown , chief operating officer .
enron global markets
enron global markets , under the leadership of mike mcconnell , president and
ceo , and jeff shankman , chief operating officer , will continue to have
responsibility for enron  , s middle east and lng operations . with the
exception of ecoelectrica in puerto rico , all operating power plants and
associated personnel in the caribbean and central america will transfer to
enron global assets . enron global markets will also continue to manage the
commodity businesses in crude and products , coal , weather , insurance ,
equities , interest rates , foreign exchange , and agricultural products .
enron industrial markets
enron industrial markets  , organization , under the leadership of jeff mcmahon ,
president & ceo , and ray bowen , chief operating officer , remains unchanged .
commercial support for ews
the commercial support functions for ews will remain with , and be managed by ,
the individual business units . we are creating no incremental overhead in
the creation of ews , and in fact hope to reduce our operating costs by more
efficient utilization and sharing of resources across ews .
to this end we have asked several people to take on an expanded role across
ews in addition to their ongoing roles within their business units . these
newly defined roles are as follows :
mid and back office operations  ) sally beck will lead mid and back office
operations across ews . these services will become part of enron net works ,
with sally reporting to louise kitchen and rick causey , executive vice
president and chief accounting officer . this alignment creates a coordinated
services organization with it and e - commerce platforms to support the
wholesale businesses and to maximize opportunities to commercialize these
services . mid and back office services for all commercial activities will
continue to be organized with dedicated operations controllers responsible
for specific commodities and / or geographic locations .
legal  ) mark haedicke will serve in the role of general counsel for ews .
regulatory and government affairs  ) this function will remain organized on a
regional basis . rick shapiro will support all ews businesses operating in
the americas , and mark schroeder , who is based in london , will support all
european and eastern hemisphere operations . rick and mark will also continue
to support all other enron businesses operating in their respective regions
and will continue to report to steve kean , executive vice president and chief
of staff .
public relations  ) this function is also organized primarily on a regional
basis . eric thode will have responsibility for north american activity ,
enron net works , and enron industrial markets . jackie gentle will continue
in her role for enron europe ( including japan and australia ) and john ambler
will have responsibility for activity outside north america and europe as
well as providing support for enron global markets and enron global assets .
these individuals will also continue to have a split reporting relationship
to mark palmer , vice president of communications .
business analysis and reporting  ) wes colwell will expand his role to cover
ews reporting in addition to his current role in north america .
attached for your review is an organization chart for enron wholesale
services which summarizes the changes described here . as this organization
continues to evolve we will keep you informed of any additional changes .
enron global exploration and production
and enron wind
as part of our company - wide initiative to examine our assets and investments
around the world , we are considering a variety of options with respect to
egep and ewc . as a consequence , we are putting these businesses under cliff
baxter  , s direction . jeff sherrick , ceo of egep , and jim noles , ceo of enron
wind , will report to cliff .
corporate staff
we are consolidating the corporate staff functions : human resources ,
government affairs , public relations / communications and administration . in
that regard , cindy olson , executive vice president of human resources and
community relations , will report to steve kean , executive vice president and
chief of staff .
committee structure
in light of the increased leadership opportunities created by enron  , s
growth , the executive committee will be expanded to include more of our
business unit leaders . the primary role of this committee will continue to
be the communication of relevant information across enron  , s businesses and
the coordination of activities across those businesses . we will also be
drawing on this group to lead company - wide initiatives such as the
performance review process and evaluation and creation of new businesses .
the executive committee membership is shown on the attached list .
we are also forming a new committee  ) the enron corporate policy committee .
this group will be responsible for overall corporate policy , personnel
management policy and corporate strategy . the enron corporate policy
committee membership is also shown on the attached list .
we are confident that these changes will align our talent and our capital to
our highest return opportunities . please join us in congratulating and
supporting all of these individuals in their new roles .