Pepco Holdings Announces Executive Changes, Names Rigby President and COO
Friday, March 14, 2008
Washington, D.C .--- Dennis R. Wraase, Chairman, President and Chief Executive Officer of Pepco Holdings, Inc. (NYSE: POM), today announced that Joseph M. Rigby, currently Executive Vice President and Chief Operating Officer of PHI, will assume the title of President and Chief Operating Officer and will continue to report to Wraase, who will remain Chairman and CEO.
The announcement was one of several leadership changes announced by Wraase. Kirk Emge, currently Vice President of Legal Services, will become Senior Vice President and General Counsel and will continue to report to William T. Torgerson, Vice Chairman and Chief Legal Officer, formerly PHI’s General Counsel. William M. Gausman, currently Vice President, Asset Management, will become Senior Vice President, Asset Management and Planning for PHI’s regulated utility subsidiaries. Michael J. Sullivan, currently Vice President, Customer Care, will become Senior Vice President, Operations, for PHI’s regulated utility subsidiaries.
Both Gausman and Sullivan will continue to report to Rigby who will be responsible for the regulated utilities, Pepco, Delmarva Power, and Atlantic City Electric. Rigby also will have responsibility for PHI’s competitive energy businesses, Conectiv Energy and Pepco Energy Services, and also for Information Technology and Corporate Communications. David M. Velazquez, President and CEO of Conectiv Energy, and John U. Huffman, President and COO of Pepco Energy Services, will report to Rigby.
“The changes we are announcing today reflect the depth of talent at PHI and provide for continued focus on delivering excellent service to our customers and solid returns to our shareholders,” said Wraase. “Joe Rigby has a long track record of creating value, both during his tenure as Chief Financial Officer and as leader of the power delivery business. Kirk Emge has excellent legal and regulatory experience, and Mike Sullivan and Bill Gausman have significant technical and customer service backgrounds in our power delivery business.”
The changes will be effective March 15.
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About PHI: Pepco Holdings, Inc., headquartered in Washington, D.C., delivers electricity and natural gas to about 1.9 million customers in Delaware, the District of Columbia, Maryland, and New Jersey, through its subsidiaries Pepco, Delmarva Power and Atlantic City Electric. PHI also provides competitive wholesale generation services through Conectiv Energy and retail energy products and services through Pepco Energy Services.
