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ENRON CORP. ANNOUNCES MANAGEMENT PROMOTIONS
FOR IMMEDIATE RELEASE: Monday, March 10, 1997
HOUSTON -- Enron Corp. today announced the promotions of five individuals within its subsidiary Enron Capital & Trade Resources (ECT).
"ECT has witnessed significant growth over the last several years and its business has become increasingly complex," said Jeffrey K. Skilling, president and COO of Enron. "These individuals have made vital contributions to the success of the company in the past and will continue to play a large role in Enron's future growth and ability to effectively meet the needs of its customers in a changing marketplace."
Lou L. Pai, formerly president and COO of ECT, has been named chairman and CEO of Enron Energy Services (EES). Ashok Rao, formerly managing director of EES, has been named president and COO of EES. EES will be managed as a separate operating company serving retail gas and electricity markets as they open to competition.
Kenneth D. Rice, formerly managing director of North American Energy Services, has been elected chairman and CEO of ECT North America. Gene E. Humphrey, formerly managing director of Enron Finance Corp., has been named president of Enron Finance Corp., which will become part of ECT North America. ECT North America will provide customers with long-term, highly integrated energy solutions.
Kevin P. Hannon, formerly managing director of Natural Gas Trading and Risk Management, has been named president of ECT Commodity and Trade Services, with responsibility for Enron's trading and risk management activities.
Mark A. Frevert will continue to serve as president and CEO of Enron Europe Ltd. and will assume the additional title of president of ECT Europe.
As a result of these promotions, Mark Frevert, Kevin Hannon, Gene Humphrey, and Ken Rice will join the Enron Management Committee and the Enron Operating Committee. Lou Pai will continue to serve on these committees.
Enron Corp., one of the world's largest integrated natural gas and electricity companies with approximately $16 billion in assets, operates one of the largest natural gas transmission systems in the world; is the largest purchaser and marketer of natural gas and the largest non-regulated marketer of electricity in North America; markets natural gas liquids worldwide; manages the largest portfolio of fixed-price natural gas risk management contracts in the world; is among the leading entities arranging new capital to the energy industry; owns a majority interest in Enron Oil & Gas Company, one of the largest independent (non-integrated) exploration and production companies in the United States; owns a majority interest in Enron Global Power & Pipelines L.L.C., which is owner and manager of operating power plants and natural gas pipelines around the world; is one of the largest independent developers and producers of electricity in the world; and is a major supplier of solar and wind renewable energy worldwide. Enron is traded under the ticker symbol, "ENE."
For additional information please contact:
Terrie James
(713) 853-7727
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