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ENRON ANNOUNCES EXPANDED MANAGEMENT COMMITTEE, PROMOTIONS AND ESTABLISHMENT OF NEW BUSINESS LINES
FOR IMMEDIATE RELEASE: Monday, January 13, 1997
HOUSTON -- Enron today announced an expanded management committee, along with recent management promotions and
consolidation and expansion of certain business lines that will allow it to be more responsive to customer needs
in domestic and international markets.
The Office of the Chairman continues under the leadership of Enron Chairman and CEO Kenneth L. Lay, President and
COO Jeffrey K. Skilling and Vice Chairman John A. Urquhart.
Enron has consolidated its international activities, excluding exploration and production, into a newly formed
business unit, Enron International (EI). The company will develop, provide fuel supply, finance and operate all
projects pursued in emerging markets through Enron Development Corp. (EDC), Enron Joint Venture Management, Enron
Americas and through Enron's majority interest in Enron Global Power and Pipelines L.L.C. (EPP). EI also will
significantly expand Enron's traditional international asset and infrastructure development business by offering
the merchant, finance and risk management products to third parties in emerging markets that Enron Capital & Trade
Resources (ECT) has developed and marketed to its customers in North America and Europe. Rebecca P. Mark, currently
EDC chairman and CEO, will serve as chairman and CEO of EI, Joseph W. Sutton, currently EDC president and COO, will
serve as president and COO of EI, and Rodney L. Gray, currently chairman, president and CEO of EPP, will add the
responsibilities
of executive vice president of EI.
Enron has separated activities previously under Enron Operations Corp. into two new business units. Stanley C.
Horton has been named chairman and CEO of the newly formed Enron Gas Pipeline Group, which has responsibility for
all
of Enronís North American pipeline companies. Horton also will serve as chairman and CEO for Enron Liquid
Services
Company, which manages Enronís various liquids assets. Thomas E. White has been named chairman and CEO of
the newly
formed Enron Ventures Corp. and will manage Enron's international and domestic engineering and construction
activities and
expand those services to external clients. Enron Ventures also will manage Enron's clean fuels operations and
investments
and Enronís investment in EOTT Energy Corp.
Enron Capital & Trade Resources (ECT) is led by Jeffrey K. Skilling as chairman and CEO, in addition to his
responsibilities
as Enron president and COO, and Lou L. Pai as president and COO. Forrest E. Hoglund continues to serve as
chairman and CEO
of Enron Oil & Gas Company and Mark G. Papa as president.
Enron recently announced the formation of Enron Renewable Energy Corp. (EREC), whose chairman and CEO is Robert C.
Kelly. EREC
is responsible for Enronís activities in the renewable energy market, including the development of solar
energy power
plants and wind energy farms.
The Enron senior corporate management members continue to serve the company through both existing and newly created
positions.
Continuing in their respective positions are Edmund P. Segner III, executive vice president and chief of staff;
James V. Derrick,
Jr., senior vice president and general counsel; Terence H. Thorn, senior vice president, Environmental and
International Government
Affairs and Elizabeth A. Tilney, senior vice president, Marketing, Communications and Administration.
Newly promoted were J. Cliff Baxter, formerly ECT managing director of corporate development, who has been promoted
to senior vice
president, corporate development; Richard A. Causey, formerly ECT managing director, who has been promoted to
senior vice president
and chief accounting and information officer; Mark E. Koenig, formerly vice president of investor relations,
who has been promoted
to senior vice president of investor relations; and Steven J. Kean, formerly ECT vice president, who has been
promoted to senior vice
president of government affairs.
To optimize corporate-wide finance and funding activities, Enron has formed Enron Capital Management (ECM) to
encompass Enron's treasury
and corporate risk management functions as well as ECT's funding, capital pricing and management activities.
The company will be
responsible for pricing capital and funding for all of Enron's businesses. Andrew S. Fastow, formerly ECT
managing director, has been
promoted to senior vice president of Enron, overseeing the activities of ECM.
All of the management represented in this announcement join Enron Chairman and CEO Kenneth L. Lay and President
and COO Jeffrey K. Skilling
on the Enron Management Committee, with the exceptions of Forrest Hoglund and Mark Papa, who serve as ad-hoc
members.
Enron, one of the worldís largest integrated natural gas and electric companies with approximately
$15 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; and is one of the largest independent developers and producers of electricity in the world.
Enron is traded under the ticker
symbol, "ENE."
For additional information please contact:
Carol Hensley
(713) 853-6498
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