1084.2000-05-17.farmer.ham.txt 2.2 KB

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  1. Subject: the new power company
  2. the new power company , the first national residential and small business
  3. energy service provider in deregulated
  4. markets was launched today with strategic investors and partners including
  5. enron , ibm and america online .
  6. h . eugene lockhart has been named president and chief executive officer of
  7. the company . he was formerly president
  8. of at & t consumer services and chief marketing officer of at & t , as well as
  9. president of bank america ' s global retail
  10. bank and president and ceo of mastercard international . lockhart is joined
  11. by a number of high - level executives from
  12. the telecommunications and financial services sectors as well as several
  13. former enron executives specializing in energy
  14. commodity pricing , marketing , risk management and government regulatory
  15. affairs .
  16. the former enron employees include jim badum , formerly managing director of
  17. consumer services at ees , john henderson ,
  18. formerly vice president of retail risk management for ees , dave eichinger ,
  19. formerly vice president of corporate development
  20. for enron corp . , and kathleen magruder , formerly vice president of government
  21. affairs for enron corp . lou pai , chairman and
  22. ceo for ees will serve as non - executive chairman of the new power company .
  23. enron will provide the new power company with energy commodity pricing , risk
  24. management , and government /
  25. regulatory affairs . ken lay is quoted in the news release , " we ' ve studied
  26. the residential and small business market
  27. for several years and believe this is the optimal way to provide value to
  28. these customers . by assisting in setting up
  29. an independent company , enron is able to leverage its core competencies of
  30. energy and risk management , while
  31. partnering with other industry leaders to give the new power company
  32. extraordinary and immediate depth and
  33. capability . " ken will also serve on the board of directors .
  34. the new power company is scheduled to initially provide service in
  35. pennsylvania and new jersey in the second half
  36. of 2000 . the company will be headquartered in greenwich , connecticut , with
  37. some operations in houston .
  38. for more information , please log onto their website at
  39. http : / / www . newpowercompany . com .