Avista Corp.’s T.M. “Tom” Matthews has stepped down as chairman,president and CEO of the Spokane, WA.-based energy company to spendmore time with his family, but has agreed to stay through the end ofthe year in a senior executive role. Matthews, 53, joined Avista in1998. The board of directors appointed Avista Executive Vice PresidentGary G. Ely, 53, as acting president and CEO. The board also said it”remains fully supportive of the company’s strategic direction.”Considered an emerging energy star just last year, the company hasbeen rocked by poor earnings and shareholder lawsuits this yearstemming from some questionable trading decisions made in April (seeDaily GPI, Aug. 1, June 22). However, last week, the companysaid it would report third quarter earnings that were above consensusestimates, earning 52 cents a share (see Daily GPI, Oct. 16).

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