People Swaps

Struggling nuclear power generator British Energy has appointed Mike Alexander as its chief executive (CEO) as of March 1, to be based at the firm’s head office in East Kilbride, Scotland. The UK’s biggest electricity generator has been without a CEO for a year-and-a-half since Peter Hollins quit. Alexander moves from Maidenhead, UK-based natural gas and residential services company Centrica, where he was chief operating officer. His responsibilities at Centrica have been taken over by a number of executive directors. Phil Bentley, group finance director, will assume responsibility for the information systems function. Mark Clare, group deputy CEO and managing director at subsidiary British Gas and Roger Wood, managing director at UK roadside recovery firm the AA, another Centrica subsidiary, will take over responsibility for delivery of the customer relationship management investment in their respective brand units. Having been pushed to the brink of insolvency late last year by low power prices and high production costs, Scotland-based British Energy is currently surviving on a government loan and undergoing financial restructuring. Alexander, who has never held a chief executive position, is little known in the financial circles where British Energy must persuade bondholders to take some pain in the restructuring, says news agency Reuters. He says: “I’m hugely excited about driving the company forward to ensure it consolidates its position in the UK electricity market, and steering it through the next phase of development. Meanwhile, Robin Jeffrey, a former chairman and chief executive of the company, has resigned as a director. Non-executive director Peter Stevenson has also stepped down. Duncan Hawthorne, executive director and CEO of Bruce Power, will relinquish his executive duties when the sale of British Energy’s major interest in Bruce Power is completed. Hawthorne will remain on the British Energy board as a non-executive director.

Weather and energy risk management product provider XL Weather & Energy – formerly Element Re Capital Products – has hired a senior team of contingent risk staff to expand its product line and capabilities. Joseph Leto becomes vice-president and will head XL’s Kansas office, where assistant vice-presidents Kurt Nuss and Paul Wohl will also be based. All three were formerly part of the origination and contingent risk team at Missouri-based energy firm Aquila. Joining XL Weather & Energy at its headquarters in Stamford, Connecticut are James Hickman, as vice-president, and Stephen Sly and Jonathan Bundy, both as assistant vice-presidents. These three also came from Aquila. Meanwhile, Ravi Nathan, formerly head of weather trading at Aquila, is to head up insurance firm ACE’s weather risk management division out of its Philadelphia office.

Houston-based energy services provider Halliburton has appointed Christopher Gaut as executive vice-president and chief financial officer (CFO). He replaces Doug Foshee, who has been promoted to chief operating officer, having joined Halliburton in August 2001 as executive vice-president and CFO. Gaut joined the firm from Dallas, Texas-based Ensco International, an offshore drilling contractor, where he was CFO and one of three people sharing the role of president and chief operating officer. Gaut serves on the executive committee of Houston-based trade body the International Association of Drilling Contractors and is a member of professional association Financial Executives International. Dave Lesar, chairman, president and chief executive of Halliburton, says: “Cris Gaut has a proven track record in corporate finance both as a financial adviser and strategist. He understands the energy business and will help drive greater shareholder value and continue to facilitate Halliburton’s growth and profitability.” He adds: “Doug Foshee’s leadership as CFO has been invaluable during the past 18 months, and in his new role as chief operating officer, we will be able to capitalise on his extensive oil and gas operating experience.”

The California Energy Commission has appointed Robert Therkelsen as executive director to succeed Steve Larson, whom California governor Gray Davis recently made chief deputy director for the state’s Department of Finance. Based in Sacramento, California, Therkelsen has worked at the commission since 1975, most recently as chief deputy director. “Bob led an unprecedented effort in the licensing of 32 power plants approved by the energy commission since 1999,” said commission chairman William Keese, on the appointment. “The commissioners felt Bob was the best person to assist the commission in moving forward as we address the state’s energy challenges.”

Michael Cleland has been appointed president and chief executive of the Canadian Gas Association (CGA), to replace Marie Rounding, who has headed up the CGA for four years. Cleland moves from the Canadian Electricity Association, where he has been senior vice-president, government relations for the past three years. The CGA says his appointment is part of a major transformation it has undertaken over the past year. One of the most significant changes has been to move the association’s head office from Toronto to Ottawa, to strengthen its relationships with the federal government.

Following Ameren Corp’s acquisition of Cilcorp – the parent of Peoria-based Central Illinois Light Co (Cilco), which now becomes AmerenCilco – Scott Cisel has been made vice-president and chief operating officer (COO) at AmerenCilco and Robert Ferlmann becomes vice-president, AmerenCilco Trading and Dispatch and Unregulated Sales. Cisel was most recently senior vice-president at Cilco, and Ferlmann was previously director of energy trading at Cilco. Both remain in Peoria. Ameren chairman and CEO Charles Mueller becomes chairman of Peoria-based AmerenCilco, and Ameren president and COO Gary Rainwater is made president. Mueller and Rainwater remain remain at Ameren Corp’s headquarters in St Louis, Missouri.

Gary Cohen, the California Public Utilities Commission’s (CPUC) general counsel since March 2001, has decided to leave the CPUC to work as general counsel for California insurance commissioner John Garamendi. He has given no departure date as yet. The CPUC is conducting a national search for a successor. Cohen’s move comes less than a month after the changing of the guard at the commission (see EPRM February 2003, page 12), and industry observers feel it is related to Michael Peevey’s replacement of Loretta Lynch as CPUC president. Lynch and Cohen had worked together at San Francisco law firm Keker and Van Nest. CPUC member Geoffrey Brown says the Cohen-Peevey tensions are par for the course. “In this business, commissioners often disagree with legal counsel.”