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

Wärtsilä supplies natural gas plant in Oklahoma to balance wind and solar generation

Wärtsilä has entered into a contract to supply a 56-MW Smart Power Generation power plant, including three of its 50SG natural gas engines, to the Stillwater Utilities Authority (SUA) in Oklahoma.

Siemens gas, steam turbines powering cogeneration plant in Germany

After several months of testing and trial runs, Siemens (NYSE: SI) has handed over three of its gas turbines to Dow Stade for a new 163-MW cogeneration power plant.

Follow Power Engineering on Twitter

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.

Latest News

Shutterstock coal production trucks

Weekly Coal Production

The Weekly Coal Production shows how much coal is being produced across the U.S.

Federal Reserve Bank of Dallas Weekly Economic Indicators financial business

The Federal Reserve Bank of Dallas' Economic Indicators

The Federal Reserve Bank of Dallas offers a glimpse into how the markets are doing domestical...

Kvaerner awarded contract for gas-fired power plant in Delaware

Kvaerner North American Construction Inc. and its joint venture partner, Parsons Brinckerhoff...

Canadian Solar purchases two solar projects

Canadian Solar Inc. has acquired a majority interest in two utility-scale solar power project...

Operators Restart Unit 2 at PPL Susquehanna

Unit 2 at the PPL Susquehanna nuclear power plant near Berwick, Pa. resumed generating electr...

Settlement agreement limits cost recovery at Edwardsport

The Indiana Utility Regulatory Commission (IURC) on Dec. 27 modified and approved a settlemen...

Toshiba in talks to sell portion of Westinghouse nuclear unit

Toshiba Corp is in talks  to sell up to 16% of its stake in the Westinghouse Electric Co...

Utah nixes nuclear waste storage facility

Plans to park radioactive waste at a storage facility in Utah have been officially called off.

Archived Articles

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

Buyers Guide Categories

Power Engineering Current Issue

03/01/2014
Volume 118, Issue 3
1403PE-cover

Buyers Guide Company Listings

Belt Tech Industrial

Belt Tech Industrial, founded in 1991, provides quality conveyor belt system products and service. From certified service crews to knowledgeable sales force you can count on Belt Tech's conveyor solutions.

Independent Power Associates Inc

Specializes in providing engineering, project management, operator training, operator qualification programs, maintenance/operations program audits and compliance reviews to power plant and industrial plant facilities.

nHance Technologies Inc

Provides full-scope high-fidelity operator training simulators with DCS virtual packages or cost-saving emulation, dynamic simulation software (MMS), engineering/control analysis, fossil/nuclear simulator upgrades as well as ebooks on power plant fundamentals.

Albert Energy LLC

Albert Energy is a direct-hire recruiting firm offering qualified candidates, placement services and executive searches to the power sector throughout North America.

Power Industry Wire News

Landmark Settlement Protects Colorado Roan Plateau

Landmark Settlement Protects Colorado Roan Plateau

BeneVir Biopharm, Inc. Announces Investment From HC2's Subsidiary Pansend, LLC

BeneVir Biopharm, Inc. Announces Investment From HC2's Subsidiary Pansend, LLC

Eos Petro Announces Extension of Tender Offer for Any and All Outstanding Shares of Dune Energy

Eos Petro Announces Extension of Tender Offer for Any and All Outstanding Shares of Dun...

Eureka Hunter Pipeline Announces Expansion of Its Senior Secured Revolving Credit Facility

Eureka Hunter Pipeline Announces Expansion of Its Senior Secured Revolving Credit Facil...

Cardinal Resources Moving Forward in West Africa

Cardinal Resources Moving Forward in West Africa

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 >>


Power Engineering Newscasts

EPA chief: carbon caps will boost economy
Australia, Russia enter nuclear power agreement with Argentina
Largest battery energy storage in North America now operational
EPA chief: carbon caps will boost economy Largest battery energy storage in North America now operational Australia, Russia enter nuclear power agreement with Argentina Texas’ Panda Temple combined cycle plant up and running
Siemens agrees to acquire Dresser-Rand
Safety concrete poured at UAE nuclear reactor power project
Foster Wheeler to upgrade natural gas-fired power plant’s emission controls
GE, TransCanada partner on natural gas turbine design
Energy storage global market to grow to $15.6B by 2024; DOE awards $2M to support taller wind turbine towers; Hinkley Point C nuclear project have financial incentives approved; N.J. company building waste-to-energy project in Ireland