PG&E Corp. CEO Peter Darbee has assumed the CEO/president duties for utility subsidiary Pacific Gas and Electric Co., effective upon approval by the California Public Utilities Commission. The move was necessitated by the departure of William Morrow, who told the company he was leaving to reenter the international technology and telecommunications sector. PG&E Corp. said John Keenan will remain as COO at the utility, responsible for day-to-day operations. Darbee called Morrow "an executive of exceptional talent sand abilities," and thanked him for his contributions to the utility's pursuit of a vision of being "the leading utility in the United States." C. Lee Cox, PG&E lead director and the chairman of Pacific Gas and Electric Co., said the expansion Darbee's of his duties recognizes that the company's current focus is "built around optimizing the financial and operational performance of our core utility unit."
The Commodity Futures Trading Commission (CFTC) Wednesday announced that Greg Mocek, director of the division of enforcement since March 2002, will leave the the agency within 60 days to return to private practice as a partner in the energy and derivatives markets practice group at the law firm of McDermott Will & Emery in Washington, DC. Mocek spearheaded the agency's investigations of several hundred energy companies, hedge funds and traders in recent years, which resulted in the filing of actions against more than 66 traders and corporations and the assessment of more than $445 million in penalties. Stephen J. Obie, the regional counsel/associate director and regional administrator for the CFTC's New York office, has been named acting director of the division of enforcement, effective immediately. Obie joined the CFTC in 1998.
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