Deregulation and competition continue to spark changes inutility company boards, from increased use of stock to compensatedirectors to growing numbers of directors from the financial fieldto greater frequency of board meetings. These are key findings inthe just-released fourth annual Spencer Stuart Utility Board Index(UI) report, which analyzes the proxy statements of 50 leadingutility companies nationwide. The report focuses on membership andpractices of the nation’s utility boards, and this year highlightsthat many utility boards are becoming more like their counterpartsat Standard & Poor 500 companies.
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NYPSC Aims to Spark Competition; Orders LDCs to Quit Gas Sales in 3 to 5 Years
Retail gas competition in the state of New York clearly needs ajump start, and the New York Public Service Commission (PSC) gaveit one last week. The PSC announced it will force the state’s localdistribution companies to cease selling gas within three to sevenyears.
October 12, 1998