Calpine: Appointment of Interim CFO

Calpine Corporation today announced that Zamir Rauf has been appointed interim Chief Financial Officer effective immediately. He will succeed Lisa Donahue, who has served as Calpine’s interim Chief Financial Officer since November 2006, and is a managing partner at AlixPartners.

“We are fortunate to have such a qualified individual as Zamir assume this position,” said William J. Patterson, Chairman of Calpine's Board. “Zamir’s industry knowledge, finance and business background, and strategic planning experience will be invaluable as we execute our business plan.”

Mr. Rauf was most recently Senior Vice President, Finance and Treasurer. In that position, he oversaw Calpine's corporate finance, project finance, treasury and debt compliance functions and was responsible for the corporate banking, investment banking and rating agency relationships. Mr. Rauf played an integral role in Calpine's restructuring efforts, working closely with the company's legal and restructuring advisors as well as the creditors' committees in an effort to help ensure the successful reorganization of the company. Mr. Rauf joined Calpine in 2000 in the Finance group. Prior to joining Calpine, Mr. Rauf held various accounting and finance roles with Enron North America and Dynegy Inc. He earned his bachelor's degree in business and commerce and master’s in business administration-finance from the University of Houston.

Ms. Donahue will return to AlixPartners where she will continue in her current position as Managing Director and co-head of the firm’s Turnaround and Restructuring practice.

Patterson added, “On behalf of the Board of Directors, I want to thank Lisa for her hard work and significant contributions to Calpine. Our successful emergence from Chapter 11 was in no small part due to her outstanding expertise and leadership capabilities. We wish her all the best in her future endeavors.”

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 nearly 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-fueled, 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 for more information.


Calpine Corporation
Media Relations:
Mel Scott, 713-570-4553
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