Reaching outside the industry for someone with experience with troubled companies, Calpine Corp.’s board Monday named Robert P. May as the company’s new CEO and a member of the power plant operator’s board. May, 56, replaces Kenneth Derr, Calpine’s lead director and acting CEO for the past two weeks following the dismissal of the company’s founder/CEO and chief financial officer.

Derr said May has “proven ability” in implementing and managing operational and financial improvements as was “successfully demonstrated” at four major corporations over the past 30 years at HealthSouth, Charter Communications, Federal Express and Cablevision. “We are excited about what Bob brings to Calpine,” said Derr, citing May’s “leadership qualities, experience, and knowledge.”

May began his career at FedEx where he was employed for 20 years (1973-93), holding several senior executive and operational positions, ending as president of business logistics and eventually a board member at HealthSouth Corp., where more recently he also served as interim CEO.

While saying he felt honored to be named to head Calpine, May said he has a “solid understanding of the challenges that lay ahead,” and that he is “committed to successfully addressing” Calpine’s operational and financial issues. “In short, we need to reduce our debt levels, improve our balance sheet and align our business strategy and operational structure with the current economic climate and energy market conditions.”

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