August 19, 2008

Avista Names New CFO

US-based power generation portfolio operator Avista has announced that Mark Thies will join the company as senior vice president and CFO in September 2008. The position was previously held by Malyn Malquist, Avista's executive vice president.

Mr Malquist will remain as executive vice president through the transition, and he will continue to play an active part in the senior executive team, particularly in the area of strategic subsidiary oversight.

Mr Thies has extensive experience in finance, risk management, accounting and administration in the utility sector, primarily in the US Midwest. Prior to joining Avista, he was executive vice president and CFO for Black Hills Corporation, a diversified energy company, providing regulated electric and natural gas service to areas of South Dakota, Wyoming and Montana.

Scott Morris, Avista chairman, president and CEO, said: "We are very pleased Mark has agreed to join Avista. He has a solid background in finance and the utility industry, and his leadership style is complementary to our company's culture. As we have previously stated, Malyn has expressed his desire to retire at some point in the near future. Bringing Mark in now gives us the opportunity for an orderly and smooth transition in the CFO position."