NGI The Weekly Gas Market Report / NGI All News Access

People

People

T. J. Glauthier, associate director of natural resources, energy and science at the Office of Management and Budget (OMB), reportedly is being considered as the successor to Deputy Energy Secretary Elizabeth Moler. Moler, former chair at FERC, is expected to leave the Department of Energy once Energy Secretary Bill Richardson, who was just sworn in, becomes more familiar with his job, possibly sometime in early fall. Linda Ricci, a spokesman for OMB, declined to comment on the report.

Seagull Energy's board has elected James T. Hackett as its new president and CEO, and its future chairman. Hackett, 44, has been president of Duke's Energy Services Division. Prior to that he was executive vice president of PanEnergy. He will succeed Barry J. Galt, who has been chairman and CEO since 1983. Galt will continue to serve as chairman for the remainder of the year before being elected vice chairman, at which time Hackett will assume the additional position of chairman. Hackett said he looks forward to the opportunity. Seagull "has a good management team, a solid balance sheet and a strong collection of domestic and international assets." Hackett has held a variety of positions in finance, marketing and engineering in the exploration and production and midstream sectors of the industry for Amoco, Burlington Resources and NGC Corp. (now Dynegy). Subsequently, Seagull announced John W. Elias resigned as executive vice president and a director. Elias, who joined Seagull in 1993, supervised the company's domestic and international oil and gas operations.

Valero Energy announced its President Ed Benninger will retire Dec. 31 after more than 20 years with the company. "This is a really difficult announcement for me to make because Ed has always been my 'right hand' since Valero was first formed," said Chairman Bill Greehey. "In fact, Ed played a key role in the creation of the company because between 1975 and 1980, he helped direct the spin-off of LoVaca Gathering from Coastal States Gas, which resulted in the creation of Valero Energy on Jan. 1, 1980." In 1996, Benninger was promoted to president and headed up the $1.5 billion spin-off/merger with PG&ampE Corp.

PacifiCorp announced that Keith McKennon will succeed Fred Buckman as CEO. McKennon is also Chairman of the Board of PacifiCorp, a position he has held since 1994. Prior to joining PacifiCorp, McKennon was an executive of Dow Chemical and Dow Corning, and retired from Dow in 1994. Buckman has been PacifiCorp's CEO since 1994. His decision to leave the company is the result of his disappointment over shareholder return and a desire to pursue other interests. The change will be effective Sept. 1.

KN Energy named John H. Weber president and chief operating officer. He will report to Larry Hall, KN Energy chairman and CEO, and serve as a member of the company's senior management team. Weber, 42, most recently was executive vice president for Aeroquip-Vickers Inc., a Toledo, OH-based company specializing in the design, manufacture and distribution of engineered components and systems for global industrial, aerospace and automotive markets.

Yankee Energy announced Michael E. Bielonko, president of Yankee Energy Services, has resigned. The resignation follows the company's decision to shift its focus from the power business to heating ventilation and air conditioning. Bielonko was formerly chief financial officer of YES prior to assuming the role as president of YESCo. He led the company into its first diversification investment with the acquisition of BVA CoGen, Inc. in 1996, a company in the power production business. "Mike's negotiating skills were critical to the establishment of our power business and additional diversifications," said CEO Branko Terzic, who will resume the post of president.

Western Resources announced Douglas T. Lake, senior managing director of Bear Stearns &amp Co., has been elected executive vice president and chief strategic officer for Western. Lake will head all corporate development, corporate strategy and international business operations. Since 1995, Lake has been with Bear Stearns as a senior investment banker working with clients in the energy, utility and environmental services industries. He also has held leadership positions with Dillon Read &amp Co., and Salomon Brothers Inc.

Tom Brown announced the hiring of Damon Button as chief financial officer and executive vice president. Button, 45, has been chief financial officer and vice president of Aquila Gas Pipeline since 1990 and was employed by Clajon Gas Co. and Clajon Holding, L.P. , predecessors to Aquila Gas Pipeline Corporation) from 1980 to 1990.

.

©Copyright 1998 Intelligence Press, Inc. All rights reserved. The preceding news report may not be republished or redistributed in whole or in part without prior written consent of Intelligence Press, Inc.

Comments powered by Disqus