fw : press release louise / john :
these changes are consistent with providing a strong enron relationship at the top of the organization . dick will be stepping down in the next few quarters due to mandatory retirement . bill morrow ( our stronghold ) is over all unregulated business ( enovate , power , retail , etc . ) and the utility gas supply function . don field the new president , is over the utilities ( operations , systems , etc . ) and is a 2 - 3 year assignment until bill morrow reaches " seniority " i . e . his 50 ' s .
these changes complement our objectives with pec in the following manner 1 ) upon dick ' s departure , tom wants to aggressively grow the company and imprint his direction / objectives , including taking the regulated assets into non - regulated business , m & a activity , and regaining ground on nicor 2 ) bill will now set the course for the retail business which will potentially provide enron the ability to leverage ees via peoples namesake in chicago 3 ) tom / bill ' s legacies are directly tied to growth in the non - regulated business which were provided the $ . 268 of eps from enron business . all other business at pec provided negative contributions .
please advise if you have further questions .
laura luce
- - - - - original message - - - - -
from : penman , gregg
sent : thursday , september 06 , 2001 7 : 22 am
to : luce , laura
subject : press release
here is the peoples press release . we got a little bit larger download from tim last night . seems decent for us .
talk to you later - gregg
thursday september 6 , 6 : 00 am eastern time
press release
source : peoples energy corporation
peoples energy announces reorganization
moves advance strategy
chicago , sept . 6 / prnewswire / - - following a meeting of its board of directors , peoples energy corporation ( nyse : pgl - news ) today announced a reorganization to advance the company ' s strategy to enhance utility operations while maximizing the potential of its diversified businesses . the changes are effective october 1 .
` ` the changes we are announcing today continue to sharpen our focus on the performance of the individual business units , as well as improve the efficiency and effectiveness of corporate functions , ' ' said chairman and ceo dick terry .
tom patrick , 55 , president and coo of peoples energy , and a director of the company , assumes the additional title of vice chairman of the company ' s operating subsidiaries .
don field , 51 , executive vice president of peoples energy , was named president and coo of the company ' s utilities , peoples gas and north shore gas , and will report to patrick . ` ` with don field as president , all our gas distribution functions will be brought directly under his capable oversight , ' ' patrick said .
desiree rogers , 42 , currently chief marketing officer of peoples energy , was promoted to senior vice president of the corporation and its utility subsidiaries . in her new position , rogers will lead the utilities ' marketing , sales , rates and customer care operations , reporting to field . rogers will also continue to direct corporate marketing and communications under patrick .
` ` in her few years at peoples energy , desiree rogers has helped the firm develop a clearer understanding of the importance of a customer focused organization , ' ' said patrick . ` ` now she will assume direct operating responsibilities for meeting the customer needs of our business . ' '
charles thompson , 54 , vice president , gas operations , assumes the new title of senior vice president , gas operations for peoples gas . thompson will add the utility ' s field service operations to his existing responsibilities of distribution operations , engineering and environmental matters . ` ` with this move , all our chicago field operations will be consolidated in a single unit , ' ' said patrick .
peoples energy also announced changes to the accounting and finance area and other support services .
james luebbers , currently chief financial officer and controller , becomes vice president , strategic reorganization . luebbers , who has more than 32 years of service with the company , will retire april 1 , 2002 . for personal reasons , mr . luebbers is reducing the extent of his responsibilities but has agreed to support the company ' s reorganization activities until his retirement .
` ` jim luebbers has made significant contributions during his impressive career at peoples energy . we profoundly appreciate his service to the company , ' ' terry said . ` ` we will continue to benefit from his assistance with our new organization in the coming months .
thomas nardi , 47 , currently president of peoples energy services , the company ' s retail energy marketer , was named chief financial officer , succeeding luebbers . nardi , who joined peoples energy one year ago , after spending 18 years at nicor , inc . , is an industry veteran , with experience leading a variety of utility and non - utility businesses and financial functions .
` ` we are confident that tom nardi has the broad experience , leadership skills and vision required to succeed in his new post , ' ' said patrick .
nardi ' s successor at peoples energy services will be announced at a later date .
joan gagen , 50 , vice president of customer service for the utility subsidiaries , will move to vice president and controller of peoples energy , reporting to nardi . ` ` the growth of our multiple businesses requires commensurate focus on the control function , ' ' said patrick .
the retail subsidiary , which had reported to patrick , will now report to william morrow , 45 , executive vice president of peoples energy and president of peoples energy resources . with this move , morrow assumes oversight of all the company ' s midwest diversified businesses . morrow will also retain responsibility for gas supply activities of the utilities .
` ` bill morrow has done a superb job building our power generation and midstream services businesses into substantial income contributors , ' ' said patrick . ` ` putting all midwest - based diversified energy concerns under his direction will maximize synergies . ' '
steve nance , 44 , president of peoples energy production , the company ' s houston - based oil and gas production unit , will continue to report to patrick .
peoples energy also announced the consolidation of support services into a new business services unit , comprised of its , human resources and other administrative functions . katherine donofrio , 44 , was promoted to senior vice president , business services to head this unit , leaving her current position as vice president , utility rates and marketing . reporting to her will be willard evans , vice president , its and john ibach , vice president , human resources .
` ` our new business services unit will focus on the efficiency and quality of support services provided to our business units , so they in turn can focus clearly on business operations , ' ' said patrick .
peoples energy is a diversified energy company comprised of five primary business segments : gas distribution , power generation , midstream services , retail energy services , and oil and gas production . the gas distribution business serves about 1 million retail customers in chicago and northeastern illinois . visit the peoples energy web site at peoplesenergy . com .
source : peoples energy corporation