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1.3.2008: Meldung: Calpine Corporation: Robert P. May Announces Intent to Leave Calpine after Orderly Transition
Friday February 29, 6:06 am ET
Board Announces Formation of Search Committee
May To Continue As CEO Until Permanent Successor Is In Place
HOUSTON & SAN JOSE, Calif.----Calpine Corporation today announced that, after discussion with its Board of Directors, Robert P. May, its Chief Executive Officer and a director, has announced his intent to leave the Company once a successor is in place. In order to ensure an orderly transition, the Board intends to extend Mr. May’s employment contract with Calpine until the management transition has been completed.
The Board has formed a search committee and will be selecting an executive search firm to identify qualified candidates to lead the Company on a permanent basis. The members of the search committee are William J. Patterson, who is also the Chairman of Calpine’s Board of Directors, Frank Cassidy and Denise M. O’Leary.
“It has been a great honor to lead Calpine’s employees, one of the finest groups in the country, and I am very proud of all that we have accomplished together over the last two years,” said Mr. May. “Now that Calpine has emerged as a strong, focused competitor with an appropriate financial structure, now is the right time to identify a successor who will take Calpine to the next level. I have every confidence that Calpine will continue its positive momentum as one of most important providers of reliable – and environmentally responsible – electricity in this country.”
“The Board and I would like to thank Bob for his tremendous contributions during his tenure with Calpine and we respect his decision to begin this transition process,” said William J. Patterson, Chairman of Calpine"s Board. “His leadership, experience and knowledge helped Calpine successfully navigate one of the largest and most complex reorganizations in corporate history. He led a talented team that implemented and managed operational and financial improvements, substantially enhancing the value of Calpine and leaving it well positioned for success.”
Over the past 30 years, Mr. May, age 58, has served in various senior management and executive positions. Most recently, he served as Interim President and Chief Executive Officer of Charter Communications from January 2005 to August 2005. For HealthSouth Corporation, he was non-executive Chairman of the Board from July 2004 to October 2005; Interim Chief Executive Officer from March 2003 until May of 2004; and served as a Board member from 2002 to 2005.
About Calpine
Calpine Corporation is helping meet the needs of an economy that demands more and cleaner sources of electricity. Founded in 1984, Calpine is a major U.S. power company, currently capable of delivering approximately 24,000 megawatts of clean, cost-effective, reliable, and fuel-efficient electricity to customers and communities in 18 states in the United States. Calpine owns, leases, and operates low-carbon, natural gas-fired, and renewable geothermal power plants. Using advanced technologies, Calpine generates electricity in a reliable and environmentally responsible manner for the customers and communities it serves. Please visit http://www.calpine.com for more information.
Contact:
Calpine Corporation
Media Relations:
Mel Scott, 713-570-4553
[email protected]
or
Investor Relations:
Norma Dunn, 713-830-8883
[email protected]
Source: Calpine Corporation
Board Announces Formation of Search Committee
May To Continue As CEO Until Permanent Successor Is In Place
HOUSTON & SAN JOSE, Calif.----Calpine Corporation today announced that, after discussion with its Board of Directors, Robert P. May, its Chief Executive Officer and a director, has announced his intent to leave the Company once a successor is in place. In order to ensure an orderly transition, the Board intends to extend Mr. May’s employment contract with Calpine until the management transition has been completed.
The Board has formed a search committee and will be selecting an executive search firm to identify qualified candidates to lead the Company on a permanent basis. The members of the search committee are William J. Patterson, who is also the Chairman of Calpine’s Board of Directors, Frank Cassidy and Denise M. O’Leary.
“It has been a great honor to lead Calpine’s employees, one of the finest groups in the country, and I am very proud of all that we have accomplished together over the last two years,” said Mr. May. “Now that Calpine has emerged as a strong, focused competitor with an appropriate financial structure, now is the right time to identify a successor who will take Calpine to the next level. I have every confidence that Calpine will continue its positive momentum as one of most important providers of reliable – and environmentally responsible – electricity in this country.”
“The Board and I would like to thank Bob for his tremendous contributions during his tenure with Calpine and we respect his decision to begin this transition process,” said William J. Patterson, Chairman of Calpine"s Board. “His leadership, experience and knowledge helped Calpine successfully navigate one of the largest and most complex reorganizations in corporate history. He led a talented team that implemented and managed operational and financial improvements, substantially enhancing the value of Calpine and leaving it well positioned for success.”
Over the past 30 years, Mr. May, age 58, has served in various senior management and executive positions. Most recently, he served as Interim President and Chief Executive Officer of Charter Communications from January 2005 to August 2005. For HealthSouth Corporation, he was non-executive Chairman of the Board from July 2004 to October 2005; Interim Chief Executive Officer from March 2003 until May of 2004; and served as a Board member from 2002 to 2005.
About Calpine
Calpine Corporation is helping meet the needs of an economy that demands more and cleaner sources of electricity. Founded in 1984, Calpine is a major U.S. power company, currently capable of delivering approximately 24,000 megawatts of clean, cost-effective, reliable, and fuel-efficient electricity to customers and communities in 18 states in the United States. Calpine owns, leases, and operates low-carbon, natural gas-fired, and renewable geothermal power plants. Using advanced technologies, Calpine generates electricity in a reliable and environmentally responsible manner for the customers and communities it serves. Please visit http://www.calpine.com for more information.
Contact:
Calpine Corporation
Media Relations:
Mel Scott, 713-570-4553
[email protected]
or
Investor Relations:
Norma Dunn, 713-830-8883
[email protected]
Source: Calpine Corporation