Attached files
file | filename |
---|---|
8-K - FORM 8-K - NISOURCE INC. | c56449e8vk.htm |
Exhibit
99.1
801 E. 86th Avenue Merrillville, IN 46410 |
||
February 18, 2010 |
||
FOR ADDITIONAL INFORMATION |
||
Media
|
Investors | |
Mike Banas
|
Randy Hulen | |
NiSource Communications Manager
|
Director, Investor Relations | |
(219) 647-5581
|
(219) 647-5688 | |
mbanas@nisource.com
|
rghulen@nisource.com | |
Nick Meyer (Indiana Media) |
||
NIPSCO Communications Manager |
||
(219) 647-6556 |
||
nmeyer@nisource.com |
Leadership change announced at NiSource Indiana utilities
| Odum resigning from position to spend time with family | ||
| Staton to focus on innovative solutions for Indiana customers, advancing NiSource growth |
MERRILLVILLE, Ind. NiSource Inc. (NYSE: NI) President & CEO Robert C. Skaggs Jr. today announced
a leadership change at its Indiana utilities following the announcement by executive vice president
and group CEO Eileen ONeill Odum that she is resigning her position at the end of the month to
spend more time with her family.
Skaggs said that Jimmy D. Staton, a NiSource executive with an extensive background in the electric
and gas utility business, will take the reins of the companys Indiana utilities. Staton currently
serves as executive vice president and group CEO of NiSources Gas Distribution business. He will
assume the added responsibility of leading the NiSource Indiana utilities, including Northern
Indiana Public Service Company (NIPSCO) effective March 1.
Odum has led NiSources Indiana business unit since December 2007. During her tenure, NiSources
Indiana utilities addressed a number of critical business challenges, including managing effects of
the economic recession and filing NIPSCOs first electric rate case in 20 years.
Our Indiana teams ability to make progress in the face of a series of daunting challenges helped
instill confidence in our business and provided the groundwork for future growth, Skaggs said. I
join our entire NiSource team in thanking Eileen for her contributions and wishing her family
well.
Commenting on Statons appointment, Skaggs said, Jimmy Staton has a strong track record of
implementing successful customer assistance and energy efficiency programs, regulatory initiatives
and infrastructure enhancement strategies. Jimmy will bring focused, engaging leadership to his new
role developing collaborative and innovative energy solutions that benefit our customers and
employees in Indiana, and NiSource as a whole.
Staton will continue NiSources focus on providing reliable gas and electric service to customers
in Northern Indiana and serving as an important economic engine for the region. Skaggs said that
executing on NiSources Indiana business plan and advancing the companys long-term growth strategy
is a key goal for the corporation. Key milestones in that effort include:
| Introducing robust conservation and energy efficiency programs for Indiana customers | ||
| Enhancing customer assistance program options | ||
| Developing a long-term strategy that embraces new technologies and renewable energy options | ||
| Resolving NIPSCOs pending electric rate case | ||
| Filing and managing additional NIPSCO gas and electric rate proceedings for 2010 | ||
| Continuing to improve safety and operational reliability |
Statons prior electric industry experience includes responsibility for an electric transmission
and distribution business serving more than two million customers in two states, and responsibility
for a combined electric and natural gas business serving four million customers in six states.
Staton reports to Skaggs and serves as a member of NiSources executive management council. He has
more than 25 years of experience in the energy sector and is based at NiSources corporate
headquarters in Merrillville, Ind.
Staton began his energy industry career as a petroleum engineer at the Federal Energy Regulatory
Commission. After leaving the public sector, Staton held several rate, regulatory and strategic
planning positions with Arkla Energy Resources and Consolidated Natural Gas Company (CNG). In 1996,
Staton was named Vice President, Pricing, Planning and Financial Services for CNG Transmission
Corporation where he served as the companys chief financial officer. In 1999, Staton became
President, Asset Operations, for CNGs Regulated Businesses.
After CNG merged with Dominion Resources, Inc. in 2000, Staton was named Senior Vice President,
Electric Delivery, where he was responsible for Dominions electric distribution business serving
more than two million customers in Virginia and North Carolina. In 2003, Staton was named Senior
Vice President, Delivery Operations, where he was responsible for providing service to Dominions
four million gas and electric customers in six states.
Staton holds professional memberships with a number of associations, including the American Gas
Association and the Southern Gas Association. He earned a B.S degree in Petroleum Engineering from
Louisiana State University in 1983.
About NiSource
NiSource Inc. (NYSE: NI), based in Merrillville, Ind., is a Fortune 500 company engaged in natural
gas transmission, storage and distribution, as well as electric generation, transmission and
distribution. NiSource operating companies deliver energy to 3.7 million customers located within
the high-demand energy corridor stretching from the Gulf Coast through the Midwest to New England.
Information about NiSource and its subsidiaries is available via the
Internet at www.nisource.com.
NI-F
Forward-Looking Statements
This news release includes forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Those statements include statements regarding the intent, belief or current expectations
of NiSource and its management. Although NiSource believes that its expectations are based on
reasonable assumptions, it can give no assurance that its goals will be achieved. Readers are
cautioned that the forward-looking statements in this news release are not guarantees of future
performance and involve a number of risks and uncertainties, and that actual results could differ
materially from those indicated by such forward-looking statements. Important
2
factors that could cause actual results to differ materially from those indicated by such
forward-looking statements include, but are not limited to, the following: weather; fluctuations in
supply and demand for energy commodities; growth opportunities for NiSources businesses; increased
competition in deregulated energy markets; the success of regulatory and commercial initiatives;
dealings with third parties over whom NiSource has no control; the effectiveness of NiSources
restructured outsourcing agreement; actual operating experience of NiSources assets; the
regulatory process; regulatory and legislative changes; the impact of potential new environmental
laws or regulations; the results of material litigation; changes in pension funding requirements;
changes in general economic, capital and commodity market conditions; and counterparty credit risk,
many of which are risks beyond the control of NiSource. In addition, the relative contributions to
profitability by each segment, and the assumptions underlying the forward-looking statements
relating thereto, may change over time. NiSource expressly disclaims a duty to update any of the
forward-looking statements contained in this release.
# # #
3