Calpine Corporation (NYSE:CPN) today announced that Jack Fusco, President and Chief Executive Officer since August 2008, has agreed to extend the term of his contract through December 2015. Mr. Fusco will continue to serve as CEO through the May 2014 Annual Meeting, immediately following which he will become Executive Chairman of the Board of Directors.
“The Board of Directors is delighted to have Jack continue to lead Calpine. Jack’s vision has been instrumental in positioning Calpine to benefit from America’s move toward greater reliance on cleaner and more efficient natural gas-fired electricity generation and from the tightening supply and demand dynamics in key markets,” said J. Stuart Ryan, Chairman of the Board of Directors. “Jack, who began his career working in power plants, has inspired the Calpine team to achieve continuous improvement across the organization. He also has tirelessly advocated for fair and transparent competitive markets as well as responsible environmental regulations, all the while enhancing Calpine’s reputation with our investors.”
Recently, buy-side and sell-side investment analysts ranked Mr. Fusco as the best CEO in the electric industry, according to Institutional Investor Magazine. Both sets of analysts gave him a first-place ranking in the magazine’s 2012 All-American Executive Team awards.
The Company also appointed Thad Hill as President, effective immediately. Mr. Hill joined Calpine in September 2008 as Executive Vice President and Chief Commercial Officer and became Chief Operating Officer in October 2010. Mr. Hill will continue to serve as COO and to report to Mr. Fusco.
“I’ve known Thad for many years. He possesses a deep understanding of our markets and operations and has demonstrated the clear ability to make sound business decisions,” said Mr. Fusco. “I am confident that Thad will continue to inspire even better, smarter performance by our team while helping to make strategic and tactical decisions that benefit Calpine’s shareholders.”
Finally, the Company announced that Thad Miller, Executive Vice President, Chief Legal Officer and Secretary, has also agreed to extend the term of his contract through December 2015. Mr. Miller joined Calpine in August 2008 with responsibility for legal matters, governmental, regulatory and market relations, corporate communications, internal audit, compliance and insurance. Mr. Miller will continue to report to Mr. Fusco.
Mr. Fusco previously served as Chairman and CEO of Texas Genco LLC, CEO of Orion Power Holdings, Inc., and Vice President at Goldman Sachs and held various positions at Pacific Gas & Electric. Mr. Hill previously served as Executive Vice President of NRG and President of NRG Texas, Executive Vice President of Texas Genco and head of Boston Consulting Group’s North American Energy Practice. Mr. Miller previously served as Chief Legal Officer of Texas Genco and Orion Power and Vice President at Goldman Sachs.
Calpine Corporation is the largest independent power producer in the U.S., with a fleet of 94 power generation plants representing nearly 29,000 megawatts of generation capacity. Last year our plants generated more than 94 million megawatt hours of power for our wholesale customers in 20 states and Canada. Our 92 operating plants as well as two under construction consist primarily of natural gas-fired and renewable geothermal power plants that use advanced technologies to generate power in a low-carbon and environmentally responsible manner. Our modern, clean, efficient and cost-effective fleet stands ready to respond to the increased need for cleaner and more affordable power as the economy recovers, as new environmental rules are implemented and force older, dirtier plants to retire or reduce generation, as variable renewable power generation from wind and solar grows and with it the need for flexible natural gas generation to assure firm supply to the grid, and finally, as natural gas becomes economically competitive with coal as a fuel for power generation. Please visit www.calpine.com to learn more about why Calpine is a generation ahead – today.
Forward-Looking Information
In addition to historical information, this release contains 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. Words such as “believe,” “intend,” “expect,” “anticipate,” “plan,” “may,” “will” and similar expressions identify forward-looking statements. Such statements include, among others, those concerning expected financial performance and strategic and operational plans, as well as assumptions, expectations, predictions, intentions or beliefs about future events. You are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause actual results to differ materially from those anticipated in the forward-looking statements. Please see the risks identified in this release or in Calpine’s reports and registration statements filed with the Securities and Exchange Commission, including, without limitation, the risk factors identified in its Annual Report on Form 10-K for the year ended Dec. 31, 2011. These filings are available by visiting the Securities and Exchange Commission’s website at www.sec.gov or Calpine’s website at www.calpine.com. Actual results or developments may differ materially from the expectations expressed or implied in the forward-looking statements, and Calpine undertakes no obligation to update any such statements.
Source: Calpine
For more information on: Calpine
29 Trackbacks
track of a writer’s work.6. pagebreeze -…
a free visual (wysiwyg) and html tag/source modes that creates websites instantly. this is a must for promoting a writer’s work on the internet.7. photo razor – a simple tool that re-sizes photos without cropping them.8. edit pad lite – advanced…
and it will pull content via rss…
from the websites that you choose and place them onto your blog as posts. as long as they have an rss feed of course. great for news type of blogs. use this alongside your own content then you have a winning…
longer, you can use 3 types of…
headings: heading 1, heading 2 and heading 3. make sure that headings to have the main keywords.on the other hand, you can highlight some important words or phrases, words that are much likely to be searched over the internet.paragraphs should not…
shared as a blog post. you may…
not have enough content for a full article, but it makes for a great blog post.now expand on that collection of thoughts and leverage your partial article into a full article to post on article directories. once again you are taking…
more writers, you will need to learn…
how to coordinate them, and your weekly tasks will diminish, while your administrative tasks increase. but remember; there are only two reasons to every hire a writer for your blog:a) his presence will bring more traffic; increase your blog’s reputati…
enabled the precise tracking of new protein…
synthesis in skeletal muscle tissue.the study followed each of eight young male subjects, none of whom had ever done a regular exercise program. each subject consumed an experimental post-workout meal, in liquid form, after each of three bouts of resis…
or something of an unclear point.finally, and…
most importantly, enjoy writing the blog. if someone enjoys writing a blog, it shows in everything. the quality improves, and readers will come back again and again, engaging with it more and more each time.if you’re just writing a blog because…
learn from real people who do this…
as their main or only source of income.4. find a membership website that teaches you what to in a detailed manner. you want one that teaches the apprentice and builds on your knowledge as you develop. you desire one that provides…
others. simply put its an online diary…
that is constantly updated. it is also a method adopted by companies who blog to maximise the amount of traffic and therefore business on their web sites. as well as increasing traffic to their blogs there are other goals sought by…
about all sorts of gardening topics like…
herb gardens, vegetable gardens, and garden tools. let’s say jeff also has a blog about gardening. maybe it’s more specific to herb gardening. he can contact me, or i might contact him, about writing an article for my blog. he’ll write…
have to offer. look for a blogging…
platform that utilises plugins. plugins are essentially software programs that enable you to add certain features, without any technical knowledge, in fact most simply involve the click of your mouse.the best software will come with literally thousands…
you need, i will lay out some…
simple preproduction steps that you should take when planning your next blog. if you choose to reference this, refer to it as the ce patrick method.step 1: define your conceptof course, everyone does this. you usually want a niche concept with…
things to get absolutely spot-on.all of that…
said, identifying and packaging your usps is possibly one of the hardest tasks you’ll face in business but it’s essential that you invest the time required to get this right. getting your usps right involves really understanding your target market an…
than short produces less emphasis than those…
that vary sentence length. longer sentences should explain ideas, while short sentences should intensify those ideas.• begin or end with key points – the main topic of a sentence should never get consumed by the context. ideally, you should place …
their sites to your site will be…
noticed by their readers. and if you have very interesting topics, they, too, will be your loyal readers.•make a comment. when someone makes a comment about your post, you should also respond to his/her comment. this is another way to increase…
owner and invite him to link to…
it from his own site, thus generating additional traffic to yours.) or maybe a local school is putting on a play or concert that is open to the public. attend and then write a review in your blog post. (share your…
set of eyes is always good for…
catching mistakes you didn’t notice yourself.don’t hesitate to ask for help. english composition is an introductory course to ready you for more advanced college writing. it is perfectly okay if you need a concept explained to you, or if you need…
user can have a professional looking blog…
and website up and running. with wordpress there is no need for html or javascript coding skills. everything is created with an easy to use ‘plug n play’ style system. i guess that is why they call the add-ons ‘plugins’.once you…
as your lack of interest will be…
clearly self evident in your writing. in turn, your readers will quickly lose interest.2. experience – a great blog offers insightful content, but if you lack experience in the area you are writing about, you are going to have a hard…
backdrop to the family and its ongoing…
story. it has been home, heavily invested in over the years with love, effort and history.sometimes though in a divorce, it is important to stand back a little and detach emotionally from the situation. it can pay dividends in the future…
as painting or construction project, caregiver, retailer,…
these are your ticket to the quickest way to make money. just be open the idea of getting a job and you’ll surely find one or two that you like.there are many ways to earn money using the internet. be careful…
readers everything that your blog is about…
before they even come visiting, then you cannot go far wrong. a good writer is one who is given a gift of ideas which he is capable of composing in a way that the words turn out compelling for the reader….
even forget about the content. there is…
no point of having a wonderful design if the reader leaves your site without any benefit.however great your design is, make sure your reader can tell what your site is all about at least at a glance.#14 blogging mistake- excessive use…
of a worthwhile community – which is…
why the likes of facebook and twitter work well!so here’s 5 ways to make a website blog post more interesting and engaging: be natural – talk about your own experiences, let people know that you are a human being with feelings,…
in traditional link building, you are focusing…
on anchor texts in your backlinks from specific websites. when you are using social networking, you are focusing on the person behind the website you want to get links from.millions of companies use social networking sites to connect with their target…
they read their blogs every day, and…
have come to know, like, and trust the opinions of susan, jerry, and maria.let’s go back to the number 100 again. 100 endorsements. now, not all reviews are going to be amazing, positive, or even worth the time it would take…
can hurt you in the long run…
and cause you to lose readers.my third tip can be really fun. while you are working on your readership base, and looking to gain visitors, you will definitely discover that posting comments on blogs which are relevant to your own will…
methods in which they are finding information…
just like yours. you ignore keyword research at your own risk. many hate the process because they feel too “hemmed in” by the way they can write their articles when in reality it allows them to be more focused in the…
the web who indirectly have control.so the…
way people have used the web has dictated to a large extent how they enter and leave your sales funnel. a note of caution here. there’s a myth among people that sales and marketing starts when a prospect reaches your site…