Enron Corp. on Tuesday named Stephen F. Cooper, managing partner with New York-based Zolfo Cooper LLC, a corporate recovery and crisis management firm, as interim CEO and chief restructuring officer. Cooper has more than 30 years of experience leading companies through operational and financial reorganizations. Cooper will be joined by a team of Zolfo Cooper professionals and current Enron executives to assist with Enron’s restructuring effort.

Enron’s board of directors, working in cooperation with its Creditors Committee, made the decision after a review of candidates last week. Also named to the Office of the Chief Executive are current CFO Jeff McMahon, who will become president and COO, and Ray Bowen, who has been named executive vice president and CFO. Bowen had been Enron’s treasurer. Cooper and his team are expected to begin working immediately with Enron’s current management and its Creditors Committee on the company’s continuing efforts to reorganize and emerge from bankruptcy.

“Our focus is on the future of Enron,” said Cooper. “With more than 19,000 employees worldwide, Enron has real businesses with real value. We will work closely with the board of directors, management, and the Creditors Committee to develop a reorganization plan to maximize value for the company’s stakeholders.” Cooper is a graduate of Occidental College and holds an MBA from Wharton. He previously was a partner in Touche Ross & Co.

The board also said it will “promptly focus” to select a new chairman. Chairman and CEO Kenneth Lay resigned last week but remains on the board.

Enron also announced, in accordance with the previously disclosed Master Agreement with UBS Warburg concerning its purchase of Enron’s North American wholesale natural gas and power trading business, that Lawrence G. Whalley has resigned his position as president and COO of Enron and will accept a position with UBS Warburg.

Zolfo Cooper, with 85 professionals, has worked on more than 500 reorganizations, including Federated Department Stores, Sunbeam, Laidlaw, Washington Group International, Polaroid Corp., Morrison Knudsen, Pegasus Gold, NationsRent, and ICG Communications. Founded in 1982, Zolfo Cooper also has offices in New Jersey and Los Angeles.

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