Under indictment for fraud, conspiracy and submitting false documents to a federally insured bank in Topeka, KS, David C. Wittig, chairman and CEO of Westar Energy Inc. resigned last week, two weeks after being put on unpaid administrative leave (see Power Market Today, Nov. 15; Nov. 8).
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Wittig Resigns, Westar Names Former COO to Revive Company
Under indictment for fraud, conspiracy and submitting false documents to a federally insured bank in Topeka, KS, David C. Wittig, chairman and CEO of Westar Energy Inc. resigned over the weekend, two weeks after being put on unpaid administrative leave (see Power Market Today, Nov. 15; Nov. 8).
AEP’s Energy Trading Exec Resigns, Will Help Unwind Operations
Eric van der Walde, who led the meteoric rise in energy marketing and trading at American Electric Power (AEP) only to see the entire sector collapse in less than a year, announced his resignation Thursday. AEP decided earlier this month to limit its energy trading activities, redirecting its business strategies toward its traditional generation assets (see Daily GPI, Oct. 11).
CMS CFO Resigns, Company Sells Most of E&P Properties
CMS Energy Corp. said Monday that Thomas J. Webb, former CFO for Kellogg Co., will replace CFO Alan M Wright, who has been with the company since 1991. At the same time CMS announced a definitive agreement to sell almost all of its remaining oil and gas reserves in the Permian Basin of West Texas, as well as assets in Africa and South America, to privately held Perenco SA and its affiliated companies, which are based in France.
CMS CFO Resigns, Company Sells Most of E&P Properties
CMS Energy Corp. said Monday that Thomas J. Webb, former CFO for Kellogg Co., will replace CFO Alan M Wright, who has been with the company since 1991. At the same time CMS announced a definitive agreement to sell almost all of its remaining oil and gas reserves in the Permian Basin of West Texas, as well as assets in Africa and South America, to privately held Perenco SA and its affiliated companies, which are based in France.
CMS CFO Resigns, Company Sells Most of E&P Properties
CMS Energy Corp. said Monday that Thomas J. Webb, former CFO for Kellogg Co., will replace CFO Alan M Wright, who has been with the company since 1991. At the same time CMS announced a definitive agreement to sell almost all of its remaining oil and gas reserves in the Permian Basin of West Texas, as well as assets in Africa and South America, to privately held Perenco SA and its affiliated companies, which are based in France.
CMS CEO Resigns in Round-Trip Scandal
The round-trip energy marketing scandal claimed another victim Friday, after CMS Energy Corp. announced the resignation of William T. McCormick as chairman and CEO. The Dearborn, MI-based company’s board of directors will establish a special committee of independent directors in the next week to investigate “matters surrounding round-trip trades” conducted by the CMS Marketing, Services and Trading (CMS-MST) unit, and in turn, the company plans to amend “as soon as practical” its 2001 10-K to restate its financial statements for 2000 and 2001 to eliminate all revenue and expense related to the wash trades.
CPUC Commissioner Bilas Resigns, Cites Health, Policy Changes
One of two remaining minority Republican appointees and a former two-time president of California’s regulatory commission, Richard Bilas announced Wednesday he is resigning from the California Public Utilities Commission effective March 8. In a letter to Gov. Gray Davis, Bilas, a Ph.D. free-market economist and former university professor, curtly referred to being “most frustrated by the policy changes at the Commission.”
CPUC Commissioner Bilas Resigns, Cites Health, Policy Changes
One of two remaining minority Republican appointees and a former two-time president of California’s regulatory commission, Richard Bilas announced Wednesday he is resigning from the California Public Utilities Commission effective March 8. In a letter to Gov. Gray Davis, Bilas, a Ph.D. free-market economist and former university professor, curtly referred to being “most frustrated by the policy changes at the Commission.”
Ex-Enron Employees Claim Victories; Most of Board Resigns
It was another week of change for those involved with the current and the former Enron Corp. last week, with ex-employees scoring victories in court, more top executives joining the ranks of the unemployed, and almost all new and old members of the board of directors announcing plans to resign.