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TXU trading head resigns

VJ Horgan, president of TXU Portfolio Management, a subsidiary of Dallas-based TXU Energy, has resigned from the company "to pursue other interests".

    • Paul Lyon
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Paul O'Malley, principal financial officer of TXU Energy, will assume Horgan's responsibilities on an interim basis, the company said in a statement.

“VJ played a key role in leading the development of our North America portfolio management operation, and leaves us with a strong team and a wealth of talent," said Tom Baker, president of TXU Energy.

TXU closed its Geneva-based European energy trading operations in early 2003. In 2002 TXU also sold its struggling European operations, blaming low wholesale electricity prices and tough competition in Britain.

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