Mark M. Jacobs, a former managing director of Goldman Sachs & Co., has been named CFO of Reliant Energy and Reliant Resources Inc., effective July 29. Reliant has been without a top financial officer since May, when CFO Stephen W. Naeve, who carried the title for the entire company, was named to replace Reliant Resources COO Joe Bob Perkins. Perkins resigned as the energy round-trip scandal was unfolding (see Daily GPI, May 17).

Jacobs, 40, and his firm have been long-time financial advisers to Reliant, said CEO Steve Letbetter. Reliant Resources, the trading arm of the utility, will be spun off later this year, and once the transition is completed, Jacobs will resign his post at Reliant Energy and retain the CFO position with Reliant Resources. Reporting to Jacobs will be Reliant Resources’ accounting, finance, risk management, corporate planning and development and investor relations functions.

Following the spin-off, Naeve will remain with Reliant Energy as president and COO. Gary K. Whitlock, 52, previously with Dow Chemical Co., will take over the CFO spot. Whitlock was hired in 2001 by Reliant Energy in anticipation of the spin-off. Rex Clevenger, vice president of finance, had been interim CFO of the entire company before Tuesday’s announcement.

The spin-off, approved earlier this month by the Securities and Exchange Commission (see Daily GPI, July 9), will allow Reliant Energy to become a holding company. The new holding company, to be named CenterPoint Energy, will consist mostly of Reliant’s regulated assets, which include electric transmission and distribution, natural gas distribution, and pipelines and gathering systems.

“Putting the right team in place is an important part of our plan to ensure that Reliant successfully executes its strategy and meets the challenges facing our industry,” said Letbetter. “In Mark, I believe we have found a strong addition to our team.”

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