Terzic Resigns From Yankee Energy
Citing a difference of opinion with the board of directors over
strategy, Branko Terzic resigned as chairman, president and CEO of
Yankee Energy System based in Meriden, CT.
Terzic, a former FERC commissioner, cited the board's recent
decision to exit the national power development business and
refocus on its core natural gas business in Connecticut as the
precipitating his resignation.
Charles E. Gooley, formerly executive vice president, succeeds
Terzic as president and CEO. He will continue to hold his position
as president of Yankee Energy's principal subsidiary, Yankee Gas
Services. Emery G. Olcott a director of the company since 1989, was
elected chairman of the board. Olcott is chairman and CEO of
Packard Bioscience Co. of Meriden, CT. Yankee had recently
announced the strategic change. Gooley said Terzic had decided to
resign before the Oct. 1 start of Yankee's fiscal 1999. He said
Yankee would continue its HVAC business but with a focus on natural
"All of us at Yankee Energy appreciate Branko's dedication to
this company over the last four years," Olcott said. "We wish him
well in his future endeavors as he returns to the national and
international energy scenes." A statement issued by Terzic said he
would be completing several obligations to produce manuscripts for
a publisher and to participate in seminars, while "seeking new
challenges and business opportunities."
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