S&P Global MarketIntelligence presents a weekly rundown of recent executive management, boardand regulatory changes in the energy industry. The moves are listed by sectorin reverse chronological order.
Brian Wuebbels hasresigned aspresident, CEO and board director of TerraFormPower Inc. and TerraFormGlobal Inc., according to a March 30 statement. An office of thechairman has been created to lead the two SunEdison Inc. yieldcos on an interim basis. Peter Blackmore, an independentdirector and chairman of TerraForm Power and Terraform Global, will lead the newoffice of the chairman. He will be joined by fellow independent directors Christopher Compton, Hanif Dahya and Jack Jenkins-Stark. Effective immediately, Ilan Daskal, interim CFO of engineering and services firm AricentInc., joins the yieldcos' board of directors. Daskal was recently appointedCFO designee andexecutive vice president of SunEdison, with a scheduled start date of no laterthan April 4.
ConsumersEnergy Co. on March 28 announcedthe appointment of Shaun Johnson asvice president and deputy general counsel, effective April 18. Johnson willoversee the litigation, general practice and federal energy regulatory practicegroups and providing legal oversight for business development activities. He willreport to Catherine Reynolds, seniorvice president and general counsel of the CMS Energy Corp. subsidiary.
CentralHudson Gas & Electric Corp. has Michael Mosher as president and CEO, effective April 1. Mosher willsucceed James Laurito, who has beenpromoted to executive vice president of parent Laurito will remain on theboard of Central Hudson, according to a March 28 release. Mosher will alsoserve as COO of CH Energy GroupInc.
BlueEarth Inc. said in a Form 8-K filed March 28 that Robert Potts has as president and COO followingthe company's filing of voluntary petitions for reorganization under Chapter 11of the U.S. Bankruptcy Code. Potts will continue to serve on the company'sboard. Blue Earth and its Blue Earth Tech Inc. filed the petitions with theU.S. Bankruptcy Court for the Northern District of California, San FranciscoDivision on March 21 after reaching an agreement with Jackson Investment GroupLLC. Blue Earth had defaultedon about $21.7 million of secured indebtedness in early March. JacksonInvestment Group is a senior lender and a principal shareholder of Blue Earth.In connection with the Chapter 11 case, the bankruptcy court on March 24authorized the company to obtain $1 million of interim debtor-in-possessionfinancing.
ChesapeakeUtilities Corp. on March 28 appointed NaimulIslam as vice president and corporate controller. Islam will manage thecompany's corporate accounting, internal and external financial reporting,business unit accounting, accounts payable, capital accounting, income taxesand shared services-accounting. Previously, Islam served as the corporatecontroller for accounting at BlackHills Corp. subsidiary SourceGasLLC and worked with EdisonInternational subsidiary SouthernCalifornia Edison Co. for more than 10 years as affiliatecontroller and principal manager of accounting.
SPIEnergy Co. Ltd. announced several management and board March 28, including theappointment of Chairman Xiaofeng Peng as CEO, according to a March 28 newsrelease. Peng replaces Roger Dejun Yewho steps down to become the executive vice president of the solar business andalso joins the board as a director. Furthermore, a CFO search is underwayfollowing the resignation of Amy JingLiu who has left for personal reasons. Liu was also a member of the board. Tairan Guo assumes CFO responsibilitieson an interim basis. Meanwhile, MinghuaZhao was promoted to senior vice president of the finance service business.
Wayne DeVeydt,executive vice president and CFO at Indiana-based insurer , has the board. "Wayne'sexperience in a regulated industry, including significant experience in capitalmarkets, corporate governance, risk management and strategic planning will be agreat asset as NiSource executes on its robust long-term utility investmentprograms that continue to deliver enhanced value for customers andshareholders," NiSource Chairman RichardThompson said in a March 24 statement.
PNMResources Inc. director Robert Nordhaus will from the board May 17.Nordhaus' decision to step down does not result from any disagreement with thecompany, according to a Form 8-K filed March 24.
RoseRock Midstream LP on March 31 said that Ronald Ballschmiede has been appointed as a member of the board of directors of itsgeneral partner, effective April 1. Ballschmiede will be serving on the auditcommittee as an independent director. With his appointment, Ballschmiedereplaces Mark Monroe on the boardand on the audit committee, the partnership said in the release. Monroeresigned effective April 1. Ballschmiede will also continue to serve on theboard of SemGroup Corp.,a position he has held since 2009. SemGroup owns the general partner of RoseRock Midstream.
BreitburnEnergy Partners LP said in a Form 8-K filed March 25 that Kurt Talbot as director of Breitburn GPLLC, the company's general partner, effective March 23.
GreenPlains Partners LP Chairman PatrickEilers resignedfrom the company, effective March 22. According to a Form 8-K filed March 25,Eilers has accepted a position at another firm, which prohibits employees fromserving on the board of a public company. He has also from the board of .Green Plains is actively searching for two independent directors to join itsboard and audit committee to replace Eilers and appoint its third independentdirector, which is required in accordance with the phase-in requirements of therules by July 1. Magellan said the board has made no decision on a nominee toreplace Eilers on the ballot for the board election.