2008-08-08 22:13:03 -
- Great Plains Energy Media: Matt Tidwell, 816-556-2069 or Investor: Ellen Fairchild, 816-556-2083 Great Plains Energy (NYSE: GXP), the holding company for KCP&L, today announced a realignment within its senior executive team to provide greater focus on operational excellence as an entirely regulated electric utility. In addition, the new structure will ensure effective management of several key initiatives, including the
realization of customer savings through the efficient integration of Aquila and KCP&L operations, the completion of KCP&L's Comprehensive Energy Plan and the successful implementation of regulatory and future resource planning efforts.
With the sale of its unregulated retail electric subsidiary, Strategic Energy, earlier this year and the recent acquisition of Aquila, Great Plains Energy is focused on building shareholder and customer value through maximizing the financial and operational performance of KCP&L, its regulated utility business.
The realignment includes the assumption of new leadership roles and responsibilities for several executives. The changes are as follows:
-- John Marshall was named Executive Vice President of Utility Operations, a new role focused on achieving the promised customer savings from the Aquila acquisition and continuing KCP&L's progress towards tier-one operational performance.
-- Mike Deggendorf will move from his current position as Vice President of Public Affairs to become Senior Vice President of Delivery, a position previously held by Marshall.
-- Bill Riggins is now General Counsel and Chief Legal Officer with responsibility for all of Great Plains Energy's legal operations.
-- Chuck Caisley is now Senior Director of Public Affairs for KCP&L, a position previously held by Deggendorf.
"As we move forward, our concentration will be on our regulated electric business. The sale of Strategic Energy and our acquisition of Aquila have resulted in a larger regulated utility warranting more alignment around our key focus areas," said Michael Chesser, Chairman and CEO, Great Plains Energy and KCP&L. "In addition, we are operating in a very challenging economic environment. These changes put the right people in the right positions to ensure that we optimize the financial and operational performance of the core utility, which is critical to providing customers with affordable, reliable and clean energy for years to come."
About Great Plains Energy
Headquartered in Kansas City, Mo., Great Plains Energy Incorporated (NYSE: GXP) is the holding company of Kansas City Power & Light Company and Aquila, Inc. (doing business as KCP&L Greater Missouri Operations Company), two of the leading regulated providers of electricity in the Midwest. Kansas City Power & Light and Aquila use KCP&L as a brand name. More information about the company is available on the Internet at:
www.greatplainsenergy.com.
Changes Aimed at Ensuring Successful Integration of Aquila,
Achievement of Operational Synergies, and Management of Construction
Projects and Regulatory Plan