The shareholders of the NYMEX Holdings Inc., and the New York Mercantile Exchange elected by a margin of 476 to 115 Pioneer Futures owner Vincent Viola as the new chairman of the board. Gordon Rutledge, Madeline Boyd, Gary Rizzi, J. Robert Collins, Kenneth Garland, Robert Steele and Harley Lippman also were elected to the board. In addition, a resolution was passed to add three equity holder representative positions to the board. An election for these positions will be scheduled shortly. Viola was vice chairman of the exchange from 1993 to 1996. Pioneer is currently a clearing member of both divisions of Nymex and the New York Board of Trade. Viola also served on the exchange board in the at-large category from 1987 to 1990. He is a graduate of the U.S. Military Academy at West Point and the New York Law School. In 1988, he formed the First Bank Group, which operates community banks in Dallas and the surrounding area. In 1998, he formed MV Technologies, a developer of fully integrated electronic platforms for trading futures, options, equities, and derivatives.
The board of TransCanada PipeLines announced that Harold (Hal) Kvisle has been appointed president and CEO effective May 1. His appointment follows an extensive seven- month international search. Kvisle currently holds the position of executive vice-president responsible for TransCanada's trading and business development area. He has been a member of TransCanada's executive leadership team for the past two years, during which time he played a critical role in developing and implementing TransCanada's successful turnaround strategy, including leading its highly successful divestiture program and power business. Doug Baldwin, board member and current president and CEO accepted the position in 1999 with the announced intention to serve in that capacity until a new CEO was chosen. Baldwin will remain as a member of the board and will provide transition support and guidance to Kvisle.
Duke/Fluor Daniel (D/FD), a joint-venture partnership of Fluor Corp. and Duke Energy, announced a management realignment and strategic development to strengthen its engineering, procurement and construction (EPC) operations as well as its diverse operating plant services (OPS), businesses. "With an increased need for power generation, the expansion and realignment of Duke/Fluor Daniel's management team enhances the partnership's ability to capitalize on the tremendous growth of our EPC business," said Alan Boeckmann, president of Fluor Corp. "Duke/Fluor Daniel has become a market leader and, in 2000, was building about one out of every three megawatts under construction in the United States. Three key leaders in our team will focus on the same goal: excellence in execution of every EPC contract." Ron Barnes will lead project operations for a significant portion of business from Duke Energy North America. Abe Fatemizadeh will focus on project operations for Duke/Fluor Daniel's external clients. Chris Tye will manage Duke/Fluor Daniel's global operations.
Duke Energy has created a new business unit, Duke Energy Generation Services, which will provide operations and maintenance (O&M) services to its own fleet of merchant power plants. Duke appointed Clarence Ray, currently president and CEO of Duke/Fluor Daniel, to lead this business. The companies are evaluating candidates to fill the position being vacated by Ray. An announcement on the successor will be made in the near future. "Our wholesale generation portfolio has grown to more than 13,600 MW in operation or under construction. We have more than 13,500 MW under development, some of which may be sold as part of our portfolio management strategy, but some will remain part of our wholesale energy business," said Harvey Padewer, group president of Energy Services. "This business has now reached a size such that we must focus our management expertise and other resources in plant O&M. As our fleet of plants continues to grow we see this as the most cost-effective and efficient business structure to deliver maximum value to our shareholders." Ray has served as president and CEO of Duke/Fluor Daniel (D/FD) since 1993. The joint venture of Duke Energy and Fluor Corp. was founded in 1989.
Dynegy Inc. announced the promotion of Michael R. Mott to senior vice president and corporate controller. Mott will oversee the company's worldwide accounting operations, including the development and application of accounting policy and procedure, and the leadership and coordination of the organization's financial and operational accounting functions, transaction support, and internal and external financial reporting. He will report to Robert D. Doty, senior vice president and CFO. Mott joined Dynegy as director of financial reporting in 1995.
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