Dynegy announces chairman appointment

25 March 2004 - US energy supplier Dynegy Inc. announced Wednesday that its Board of Directors has decided to elect President, Chief Executive Officer and Director Bruce A. Williamson as Chairman of the Board. Mr. Williamson will replace Dynegy's non-executive Chairman of the Board, Daniel L. Dienstbier, who has announced his retirement and will not seek re-election at the Annual Meeting of Shareholders on May 20.

Dynegy also named Director Patricia A. Hammick as Lead Director, concurrent with Mr. Williamson's election to the Chairman position. The Board intends to name Mr. Williamson and Ms. Hammick to these positions following the annual meeting, should the company's shareholders re-elect them to serve as Directors for another year.

Mr. Williamson, 44, has served as President and Chief Executive Officer and as a Director of Dynegy since October 2002. In the broader role of Chairman, Mr. Williamson will provide leadership to the Board and its committees.

"The Board's unanimous decision to elect Bruce to this important position reflects our confidence in his abilities and the strength of our corporate governance structure," Mr. Dienstbier said. "Under Bruce's leadership, Dynegy has made outstanding progress in our self-restructuring plan, established a track record of delivering results, improved its capital structure and restored confidence and credibility with investors and the public. He will bring to the Chairman role the highest level of integrity, proven leadership capabilities and a strong commitment to create value for our investors."

Ms. Hammick, 57, was elected to the Board in April 2003. She has more than 25 years of energy industry experience, including management positions with Gulf Oil Exploration and Production, the National Gas Supply Association and Columbia Energy Group. In the new role of Lead Director, Ms. Hammick will preside over the regular executive sessions of Dynegy's independent Directors. She will also provide advice and counsel to the Chairman, work with the Chairman in developing Board meeting agendas and act as a liaison between the Board and the Chairman.

"Pat is a strong leader, a valuable asset to the Board and an instrumental contributor in the areas of compliance and corporate governance. Her extensive industry background also makes her the right choice for this role," Mr. Dienstbier said. "The Board will benefit from Pat's continued guidance and leadership."

Mr. Dienstbier, 63, has served as non-executive Chairman of the Board since October 2002 and as a Dynegy Director since 1995. He also served as interim Chief Executive Officer of Dynegy from May 2002 until Mr. Williamson's election in October 2002, directing the initial phase of Dynegy's self-restructuring plan. Mr. Dienstbier has planned his retirement since last year to provide for a less rigorous schedule and more time to devote to his family and a variety of interests.

"Dan provided invaluable counsel to our Board and the management team throughout the years and helped guide our company through some challenging times," Mr. Williamson said. "Dan served the company with the highest standards of ethics and professionalism, and Dynegy is fortunate to have benefited from his experience and expertise for nearly a decade."

Dynegy Inc. provides electricity, natural gas, and natural gas liquids to customers throughout the United States. Through its energy businesses, the company owns and operates a diverse portfolio of assets, including power plants totaling more than 12,700 megawatts of net generating capacity, gas processing plants that process approximately two billion cubic feet of natural gas per day and nearly 38,000 miles of electric transmission and distribution lines.


Sponsored by FLSmidth

Related Articles

Russia: Ukraine's import of US nuclear fuel risky

 Russia says Ukraine's deal to buy U.S.-made nuclear fuel for its Soviet-built reactors could trigger a nuclear accident.

Dominion acquires solar power facility in California

Dominion (NYSE: D) has closed on the acquisition of the 20-MW CID Solar Project, in King's County, California, from EDF Renewable Energy.

Follow Power Engineering on Twitter
Latest News
Sendai nuclear Unit 1 in Japan connects to power grid Kyushu Electric Power Co.

Sendai nuclear Unit 1 connects to grid

The Sendai 1 nuclear power unit in Japan is expected to reach commercial operations, almost t...
EPA allows one claim to stand in Sierra Club appeal of Schiller air permit

EPA allows one claim to stand in Sierra Club appeal of Schiller air permit

U.S. Environmental Protection Agency (EPA) Administrator Gina McCarthy signed a July 28 order...
Western states win injunction against ‘Waters of the United States’ rule

Western states win injunction against ‘Waters of the United States’ rule

A federal judge in North Dakota on Aug. 27 granted a request by Colorado and twelve other sta...
Exelon-Pepco release statement, say D.C. Public Service Commission failed to see merger's 'substantial' customer benefits

Exelon-Pepco: Regulators failed to see merger's 'substantial' customer benefits

Despite a unanimous rejection from regulators in the nation’s capital, power companies Exelon...
Makai’s plant will generate 100 kW of sustainable, continuous electricity – enough to power 120 homes in Hawaii each year.

Makai Ocean Engineering connects world's largest OTEC plant to U.S. grid

Makai’s plant will generate 100 kW of sustainable, continuous electricity – enough to power 1...
Canadian Solar sells stake in Tranquility solar power project in California to Southern Power

Canadian Solar unit sells solar power project stake to Southern

Canadian Solar Inc. said its subsidiary sold its ownership stake in a 200-MW solar power proj...
Plant Vogtle construction costs down in first half 2015

Plant Vogtle nuclear expansion spending down in first half of 2015

Georgia Power said in a report that the utility estimates it will spend less on construction ...
Renewable energy developer Cypress Creek Renewables building 2 utility-scale solar farms in South Carolina

Renewable energy developer Cypress Creek Renewables building 2 utility-scale solar farms in South Carolina

Cypress Creek Renewables is investing more than $20 million in new projects in South Carolina.

Power Engineering Current Issue

12/01/2014
Volume 118, Issue 12
1412pe-cover
Products Showcase
Dynamic Fluoride Ion cleaning DFIC of industrial natural gas turbines Hi-Tech Furnace Systems

Dynamic Fluoride Ion Cleaning of IGT Parts

The Dynamic Fluoride Ion Cleaning (DFIC) Process from Hi-Tech Furnace Systems is able to clean deep, narrow cracks of oxides by cycling between negative, atmospheric, and positive pressure.

Archived Articles

2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013

Buyers Guide Categories

Power Industry Wire News

Poll Shows Americans United in Need for Police Body Cameras: Vast Majority of Americans Prefer 2nd Generation Police Body Cameras

Poll Shows Americans United in Need for Police Body Cameras: Vast Majority of Americans...

Sunergy Management and Its IPP Partner Has Received an Invitation From the Government of Liberia to Attend the US-Liberia Trade and Investment Forum Held in NY on September 16

Sunergy Management and Its IPP Partner Has Received an Invitation From the Government o...

UGE International and Alpha Energy to Collaborate on Microgrid Projects

UGE International and Alpha Energy to Collaborate on Microgrid Projects

Mid-Atlantic Aviation Partnership to Explore Tethered Drone Commercialization With Drone Aviation Holding Corp.

Mid-Atlantic Aviation Partnership to Explore Tethered Drone Commercialization With Dron...

Perma-Fix Medical S.A. Announces Successful Completion of 6 Curie Tests With Scale-Up of Its Non-Uranium Process to Procure Technetium-99m

Perma-Fix Medical S.A. Announces Successful Completion of 6 Curie Tests With Scale-Up o...

Power Engineering

Article Archives for Power Engineering Magazine

Continuing Education

Professional Development Hours

To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

Latest Energy Jobs

View more Job Listings >>