ENRON PROMOTES CLIFF BAXTER TO VICE CHAIRMAN
FOR IMMEDIATE RELEASE: Wednesday, October 18, 2000
HOUSTON -- Enron Corp. announced today that J. Clifford Baxter has been promoted to vice chairman of the company.
“Cliff is a key member of the team that has built Enron’s highly successful wholesale business,” said Kenneth Lay, Enron chairman and CEO. “His promotion will facilitate an even greater focus on extending that business model and continuing to increase Enron’s return on invested capital.”
Baxter, a native of Amityville, N.Y., received a bachelor’s degree with honors from New York University and an MBA from Columbia University, where he was valedictorian. He joined Enron in 1991 and was chairman and CEO of Enron North America prior to being named chief strategy officer for Enron Corp. in June 2000.
Enron is one of the world’s leading electricity, natural gas and communications companies. The company, with revenues of $40 billion in 1999 and $60 billion for the first nine months of 2000, produces electricity and natural gas, develops, constructs and operates energy facilities worldwide, delivers physical commodities and financial and risk management services to customers around the world, and is developing an intelligent network platform to facilitate online business. Fortune magazine has named Enron “America’s Most Innovative Company” for five consecutive years, the top company for “Quality of Management” and the second best company for “Employee Talent.” In addition, Enron ranks in the top quarter of Fortune's "Best 100 Companies to Work For in America.” Enron’s Internet address is www.enron.com. The stock is traded under the ticker symbol “ENE.”
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