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07.03.2005 19:02:00
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Great Plains Energy Announces Executive Changes
Great Plains Energy Announces Executive Changes Easley Named Senior Vice President, Supply Changes Support Company's New Strategic Direction
Great Plains Energy (NYSE: GXP) today announced a series of organizational changes designed to further strengthen its ability to implement the construction, regulatory, and financial aspects of its long-range strategic plan.
"As we move from developing our strategy to implementation, our focus is on having the right people and structure in place," said Michael Chesser, Chairman and Chief Executive Officer of Great Plains Energy. "We are selecting leaders that have the skills and experience needed to help us carry out our strategy, leaders who have a strong focus on performance, are team players with the ability to transcend organizational lines and who model the values and desired behaviors of the culture we are creating."
The changes, which include executive promotions and changes in responsibility, are aimed at strengthening the operating companies' performance while providing an effective yet efficient level of corporate support. They include the following:
Stephen Easley has been promoted to Senior Vice President, Supply, for Kansas City Power & Light (KCP&L). Easley, who has been with KCP&L since 1996, has been instrumental in several key initiatives, including the rebuilding of the Hawthorn 5 plant and overall improvements in the performance of KCP&L's existing fleet. As part of its proposed long-term energy plan for the region, KCP&L has proposed environmental upgrades and the construction of a new high-efficiency coal plant and new wind generation facilities.
Lora Cheatum has been promoted to Vice President, Administrative Services, for KCP&L. Cheatum joined the company in 2001, bringing HR and operations experience from Wal-Mart and PepsiCo. She has been serving as interim Vice President of Human Resources for the utility and will now assume broader administrative duties, including HR, facilities management, and procurement.
Michael Cline has been promoted from Assistant Treasurer to Treasurer of Great Plains Energy. In this role, he will be responsible for all financing and investing activities, as well as cash management, bank relations, rating agency relations, financial risk management, and insurance. Cline joined the company in 2001 and recently led an initiative to ensure Sarbanes-Oxley compliance.
Dana Crawford has been promoted to Vice President, Plant Operations, for KCP&L, with responsibility for ensuring the performance of KCP&L's existing generating fleet. Crawford has been with the company since 1977, most recently as Manager of Plant Operations at LaCygne, a plant known for excellent performance and a model employee culture.
Michael Deggendorf has been promoted to Vice President, Public Affairs for Great Plains Energy. In that role, he will oversee legislative affairs, community relations, and communications for Great Plains Energy and KCP&L. Deggendorf has been serving as Senior Director of Energy Solutions since joining KCP&L from Aquila in 2002.
Chris Giles has been promoted to Vice President, Regulatory Affairs, for KCP&L. Giles was previously Senior Director, Regulatory Affairs, and has played a key role in developing the company's comprehensive long-term energy proposal.
Todd Kobayashi has been promoted to Vice President, Strategy and Investor Relations. Kobayashi, who has managed investor relations since joining Great Plains Energy in 2002, will take on added responsibilities for identifying and evaluating strategic opportunities for the company.
William Riggins has been named Vice President, Legal and Environmental Affairs, for KCP&L. Riggins, who joined the company in 1991 and has served as General Counsel of Great Plains Energy since 2000, will now serve as General Counsel for KCP&L, as well as handle expanded duties for environmental affairs.
Marvin Rollison has been promoted to Vice President, Corporate Culture and Community Strategy, for KCP&L. Rollison, who has been with the company for 15 years, has been leading internal efforts to create a corporate culture known for engaged employees and leadership at all levels.
"This is an exciting time for our company, and I'd like to congratulate all of those who are taking on added responsibility," said Chesser. "The next few years are among the most important in our history, and I couldn't be prouder to have these people leading the way."
Said William Downey, President and Chief Executive Officer of KCP&L: "These changes represent positive steps in a process that will help us become an industry leader known for environmental leadership, customer responsiveness, community collaboration, and innovation in all aspects of the business. These moves are visible evidence that we are serious about our strategic direction."
Great Plains Energy Incorporated (NYSE: GXP), headquartered in Kansas City, Mo., is the holding company for Kansas City Power & Light Company, a leading regulated provider of electricity in the Midwest; and Strategic Energy LLC, a competitive electricity supplier. The Company's Web site is www.greatplainsenergy.com.
CERTAIN FORWARD-LOOKING INFORMATION -- Statements made in this release that are not based on historical facts are forward-looking, may involve risks and uncertainties, and are intended to be as of the date when made. In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the Company is providing a number of important factors that could cause actual results to differ materially from the provided forward-looking information. These important factors include: future economic conditions in the regional, national and international markets, including but not limited to regional and national wholesale electricity markets; market perception of the energy industry and the Company; changes in business strategy, operations or development plans; effects of current or proposed state and federal legislative and regulatory actions or developments, including, but not limited to, deregulation, re-regulation and restructuring of the electric utility industry and constraints placed on the Company's actions by the Public Utility Holding Company Act of 1935; adverse changes in applicable laws, regulations, rules, principles or practices governing tax, accounting and environmental matters including, but not limited to, air quality; financial market conditions and performance including, but not limited to, changes in interest rates and in availability and cost of capital and the effects on the Company's pension plan assets and costs; ability to maintain current credit ratings; inflation rates; effectiveness of risk management policies and procedures and the ability of counterparties to satisfy their contractual commitments; impact of terrorist acts; increased competition including, but not limited to, retail choice in the electric utility industry and the entry of new competitors; ability to carry out marketing and sales plans; weather conditions including weather-related damage; cost, availability and deliverability of fuel; ability to achieve generation planning goals and the occurrence of unplanned generation outages; delays in the anticipated in-service dates of additional generating capacity; nuclear operations; ability to enter new markets successfully and capitalize on growth opportunities in non-regulated businesses; performance of projects undertaken by the Company's non-regulated businesses and the success of efforts to invest in and develop new opportunities; and other risks and uncertainties. This list of factors is not all-inclusive because it is not possible to predict all factors.
--30--DJM/dx*
Business Editors/Energy Editors
KANSAS CITY, Mo.--(BUSINESS WIRE)--March 7, 2005--
Great Plains Energy (NYSE: GXP) today announced a series of organizational changes designed to further strengthen its ability to implement the construction, regulatory, and financial aspects of its long-range strategic plan.
"As we move from developing our strategy to implementation, our focus is on having the right people and structure in place," said Michael Chesser, Chairman and Chief Executive Officer of Great Plains Energy. "We are selecting leaders that have the skills and experience needed to help us carry out our strategy, leaders who have a strong focus on performance, are team players with the ability to transcend organizational lines and who model the values and desired behaviors of the culture we are creating."
The changes, which include executive promotions and changes in responsibility, are aimed at strengthening the operating companies' performance while providing an effective yet efficient level of corporate support. They include the following:
Stephen Easley has been promoted to Senior Vice President, Supply, for Kansas City Power & Light (KCP&L). Easley, who has been with KCP&L since 1996, has been instrumental in several key initiatives, including the rebuilding of the Hawthorn 5 plant and overall improvements in the performance of KCP&L's existing fleet. As part of its proposed long-term energy plan for the region, KCP&L has proposed environmental upgrades and the construction of a new high-efficiency coal plant and new wind generation facilities.
Lora Cheatum has been promoted to Vice President, Administrative Services, for KCP&L. Cheatum joined the company in 2001, bringing HR and operations experience from Wal-Mart and PepsiCo. She has been serving as interim Vice President of Human Resources for the utility and will now assume broader administrative duties, including HR, facilities management, and procurement.
Michael Cline has been promoted from Assistant Treasurer to Treasurer of Great Plains Energy. In this role, he will be responsible for all financing and investing activities, as well as cash management, bank relations, rating agency relations, financial risk management, and insurance. Cline joined the company in 2001 and recently led an initiative to ensure Sarbanes-Oxley compliance.
Dana Crawford has been promoted to Vice President, Plant Operations, for KCP&L, with responsibility for ensuring the performance of KCP&L's existing generating fleet. Crawford has been with the company since 1977, most recently as Manager of Plant Operations at LaCygne, a plant known for excellent performance and a model employee culture.
Michael Deggendorf has been promoted to Vice President, Public Affairs for Great Plains Energy. In that role, he will oversee legislative affairs, community relations, and communications for Great Plains Energy and KCP&L. Deggendorf has been serving as Senior Director of Energy Solutions since joining KCP&L from Aquila in 2002.
Chris Giles has been promoted to Vice President, Regulatory Affairs, for KCP&L. Giles was previously Senior Director, Regulatory Affairs, and has played a key role in developing the company's comprehensive long-term energy proposal.
Todd Kobayashi has been promoted to Vice President, Strategy and Investor Relations. Kobayashi, who has managed investor relations since joining Great Plains Energy in 2002, will take on added responsibilities for identifying and evaluating strategic opportunities for the company.
William Riggins has been named Vice President, Legal and Environmental Affairs, for KCP&L. Riggins, who joined the company in 1991 and has served as General Counsel of Great Plains Energy since 2000, will now serve as General Counsel for KCP&L, as well as handle expanded duties for environmental affairs.
Marvin Rollison has been promoted to Vice President, Corporate Culture and Community Strategy, for KCP&L. Rollison, who has been with the company for 15 years, has been leading internal efforts to create a corporate culture known for engaged employees and leadership at all levels.
"This is an exciting time for our company, and I'd like to congratulate all of those who are taking on added responsibility," said Chesser. "The next few years are among the most important in our history, and I couldn't be prouder to have these people leading the way."
Said William Downey, President and Chief Executive Officer of KCP&L: "These changes represent positive steps in a process that will help us become an industry leader known for environmental leadership, customer responsiveness, community collaboration, and innovation in all aspects of the business. These moves are visible evidence that we are serious about our strategic direction."
Great Plains Energy Incorporated (NYSE: GXP), headquartered in Kansas City, Mo., is the holding company for Kansas City Power & Light Company, a leading regulated provider of electricity in the Midwest; and Strategic Energy LLC, a competitive electricity supplier. The Company's Web site is www.greatplainsenergy.com.
CERTAIN FORWARD-LOOKING INFORMATION -- Statements made in this release that are not based on historical facts are forward-looking, may involve risks and uncertainties, and are intended to be as of the date when made. In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the Company is providing a number of important factors that could cause actual results to differ materially from the provided forward-looking information. These important factors include: future economic conditions in the regional, national and international markets, including but not limited to regional and national wholesale electricity markets; market perception of the energy industry and the Company; changes in business strategy, operations or development plans; effects of current or proposed state and federal legislative and regulatory actions or developments, including, but not limited to, deregulation, re-regulation and restructuring of the electric utility industry and constraints placed on the Company's actions by the Public Utility Holding Company Act of 1935; adverse changes in applicable laws, regulations, rules, principles or practices governing tax, accounting and environmental matters including, but not limited to, air quality; financial market conditions and performance including, but not limited to, changes in interest rates and in availability and cost of capital and the effects on the Company's pension plan assets and costs; ability to maintain current credit ratings; inflation rates; effectiveness of risk management policies and procedures and the ability of counterparties to satisfy their contractual commitments; impact of terrorist acts; increased competition including, but not limited to, retail choice in the electric utility industry and the entry of new competitors; ability to carry out marketing and sales plans; weather conditions including weather-related damage; cost, availability and deliverability of fuel; ability to achieve generation planning goals and the occurrence of unplanned generation outages; delays in the anticipated in-service dates of additional generating capacity; nuclear operations; ability to enter new markets successfully and capitalize on growth opportunities in non-regulated businesses; performance of projects undertaken by the Company's non-regulated businesses and the success of efforts to invest in and develop new opportunities; and other risks and uncertainties. This list of factors is not all-inclusive because it is not possible to predict all factors.
--30--DJM/dx*
CONTACT: Great Plains Energy Media: Tom Robinson, 816-556-2902 or Investors: Todd Kobayashi, 816-556-2312
KEYWORD: MISSOURI INDUSTRY KEYWORD: OIL/GAS ENERGY UTILITIES MANAGEMENT CHANGES SOURCE: Great Plains Energy
Copyright Business Wire 2005
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