January 16, 2008
PSEG Announces Seven Executive Moves, Including the Election of Three New Officers
NEWARK, N.J., Jan. 16 /PRNewswire-FirstCall/ -- PSEG today announced seven executive moves, including the election of three corporate vice presidents.
Ralph Izzo, chairman, president and CEO, PSEG said the moves are designed to improve the company's succession planning, better align the organization with its long-term business needs and help develop the talents of the company's leadership team.
"These changes strengthen our ability to quickly develop strategies and nimbly seize opportunities around significant issues as they emerge, such as society's growing desire to reduce carbon emissions," Izzo said.
Eileen Moran, president of PSEG Resources, will take on additional duties as senior vice-president for strategic initiatives, PSEG Services. "Eileen has shown creativity and insight in producing a tremendous record of success at Resources, our investment business," Izzo said. "Eileen will help define the long-term direction and opportunities for the Services Corporation, which provides support to our operating businesses."
Kevin Quinn who has been president, PSEG Energy Resources & Trade (ER&T), will become senior vice-president, corporate planning, PSEG. "Kevin has successfully rebuilt ER&T since becoming its president," Izzo said. "He will take his stronger understanding of the power and trading markets to his new position where he will focus on planning how the company can take maximum advantage of the rapid changes occurring in the energy markets." Quinn will continue as president of ER&T until a successor is named.
Al Matos, currently vice president, distribution operations, PSEG Global, will become vice-president for renewables and energy solutions at PSE&G. Matos will help the utility explore new opportunities in the renewable energy and conservation markets.
Michelle Hallerdin, currently vice-president of workforce planning and talent management, PSEG Services Corp., will become vice-president, strategic planning and finance, PSEG Global.
PSEG also announced the following new officers: -- Richard Machon, currently an independent consultant with 30 years of experience in design, construction, operations, and maintenance of power facilities will become senior vice-president, fossil operations in PSEG Power. -- David Daly, currently director in PSE&G's customer operations group, will become vice-president, energy acquisition and technology, for the utility. -- Cora Brina, currently a director in PSEG's human resources department, will become vice-president, HR client services.
Public Service Enterprise Group (PSEG) is a publicly traded diversified energy company with annual revenues of more than $12 billion, and three principal subsidiaries: PSEG Power, PSEG Energy Holdings, and Public Service Electric and Gas Company (PSE&G). PSEG Power, one of the largest independent power producers in the U.S. has three main subsidiaries: PSEG Fossil LLC, PSEG Nuclear LLC, and PSEG Energy Resources & Trade LLC. PSEG Energy Holdings, with assets in excess of $6 billion, has two main unregulated energy-related businesses: PSEG Global and PSEG Resources. PSE&G, New Jersey's oldest and largest regulated gas and electric delivery utility, serves nearly three-quarters of the state's population and the winner of the ReliabilityOne Award for superior electric system reliability. PSEG Services Corporation provides corporate support to the operating businesses.
Public Service Enterprise Group (PSEG)
CONTACT: Denise Denk for Public Service Enterprise Group (PSEG),+1-973-430-6336
Web site: http://www.pseg.com/