EL PASO, Texas--(BUSINESS WIRE)--
David W. Stevens, Chief Executive Officer of the El Paso Electric (EPE)
Company (NYSE:EE), notified the Board of Directors in a letter on
January 30 that he is resigning his position effective March 2, 2012 to
pursue another job opportunity.
The Board announced today that Thomas V. Shockley, EPE director and
former Vice Chairman of American Electric Power (AEP), one of the
largest electric utilities in the United States, will serve as interim
CEO, effective with Stevens' resignation, while a search is under way to
find a successor to Stevens. The search will consider both internal and
external candidates for the position.
Stevens said he has great respect for Shockley's decades of utility
experience and that he would assist him in any way he can during the
transition to Shockley assuming the responsibility as CEO.
"The Board wants to thank David Stevens for a job well done," said Board
Chairman Kenneth Heitz. "He has provided strong leadership helping the
Company achieve many important goals. While we are going to miss David,
we are very fortunate to have Tom Shockley on the EPE Board. Tom has had
a lengthy and distinguished career in the regulated electric utility
industry and has agreed to step in to provide a smooth transition while
we identify David's permanent replacement."
In addition to Shockley's experience as Vice Chairman and Chief
Operating Officer of American Electric Power Company, he also served as
President and Chief Operating Officer of Central and South West
Corporation, which is now part of AEP. During his career Shockley held
several other executive and management positions in the utility and
energy industries. A copy of Shockley's resume is attached to this
release.
"I have really enjoyed my three plus years at the helm of EPE," Stevens
said. "I very much appreciate having had the opportunity to work with
EPE's talented and dedicated employees and to meet and serve the people
in El Paso and the other areas of west Texas and southern New Mexico
served by EPE."
El Paso Electric is a regional electric utility providing generation,
transmission and distribution service to approximately 380,000 retail
and wholesale customers in a 10,000 square mile area of the Rio Grande
valley in west Texas and southern New Mexico. El Paso Electric has a net
dependable generating capability of 1,795 MW. El Paso Electric's common
stock trades on the New York Stock Exchange under the symbol EE.
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Thomas V. Shockley III
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Professional Experience (Partial List)
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American Electric Power
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1997 — 2004
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Vice-Chairman and Chief Operating Officer
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(retired in 2004)
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Central and South West Corporation
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1997
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President and Chief Operating Officer
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Central and South West Corporation
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1990 — 1997
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Executive Vice President
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Central and South West Corporation
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1990
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Senior Vice President
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Central Power and Light Company
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1987 — 1990
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Chief Executive Officer
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Central Power and Light Company
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1983 — 1987
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Special Assistant — Nuclear Activities
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Education
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Texas A&I University (now Texas A&M-Kingsville), Kingsville, Texas,
Bachelor of Science, Electrical Engineering, 1967
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The University of Texas at Austin, Austin, Texas, Master of Science,
Electrical Engineering, 1969
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Harvard University Advanced Management Program, 1987
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Current Boards
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El Paso Electric
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Chase Energy Development
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Southwestern University (Georgetown, Texas) Board of Trustees
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Texas A&M Kingsville Foundation Board
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The University of Texas College of National Science Advisory Council
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The UT Cockrell School of Engineering Advisory Board
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El Paso Electric
Teresa Souza, 915-543-5823
Source: El Paso Electric
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