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Enron Mail |
FYI.
---------------------- Forwarded by Osman Sezgen/HOU/EES on 04/23/2001 02:2= 9=20 PM --------------------------- =20 =09Enron Energy Services =09 =09From: EES Distribution 04/23/2001 01:29 PM =09 Sent by: Kay Chapman To: All EES cc: =20 Subject: Organizational Announcement Consistent with the floor talks of a couple weeks ago, we are following up= =20 with an e-mail describing the latest changes in our risk and back-office=20 functions that are now complete. EES=01,s Risk Management and the vast maj= ority=20 of EES=01,s Risk Controls and Operations Group will become a new group in E= nron=20 Wholesale Services. This group=01,s sole function will be to provide pricin= g,=20 structuring, commodity risk management, logistics and back-office services= =20 for EES. Both Don Black and Wanda Curry will report to the EWS Office of t= he=20 Chairman.=20 This change was driven by the explosive growth of EES and the resulting nee= d=20 to tap the systems, resources and risk expertise of the wholesale groups in= =20 order to continue to grow and take advantage of current market=20 opportunities. This change will allow us to more quickly capture the=20 benefits of scale, process, and technology in risk, logistics and back-offi= ce=20 functions from the larger Enron capability. As discussed at the All Employ= ee=20 Meeting in March, these are important objectives, and this change allows us= =20 to reach those goals more quickly.=20 Specifically, the following groups within the former EES Risk Management=20 Group, will become a part of this new group reporting to Don Black: - the gas, power and tariff desks, - the options desk, - the site profiles and consumption desks, and - the matrix products/secondary products desks. The DSM Group and IAM, along with its execution capability, will remain in= =20 EES and report to the EES Office of the Chairman. We are pleased to announc= e=20 that Ozzie Pagan has agreed to lead this function. Ozzie is an established= =20 commercial dealmaker in ENA. He has experience in power trading, originati= on=20 and plant development. In addition, the Services Group, which will provide= =20 billing, information and other retail services, led by Evan Hughes, will=20 remain in EES and report to the EES OOC. All support functions, within the= =20 former EES Risk Controls and Operations Group, that currently support the D= SM=20 and the Services Groups, will remain in EES. The remaining parts of the Ri= sk=20 Controls and Operations Group will become part of EWS reporting to Wanda=20 Curry. As part of this change, we are pleased to add Evan Hughes and Ozzie= =20 Pagan to the EES Operating Committee. In addition, the Structuring Group, led by Sean Holmes, will be re-named De= al=20 Management. The vision for this group remains the same as that discussed a= t=20 the All Employee Meeting; however, it will also facilitate and ensure=20 productive transaction interaction between EES and EWS. We have asked, Marty Sunde, as part of his Vice Chairman role, to resource= =20 and lead a formal Restructuring Group to enhance or protect value in severa= l=20 key transactions in our portfolio primarily in California.=20 The newly created IT function, led by Anthony Dayao, will continue to repor= t=20 into the EES OOC but will support both EES and EWS IT requirements. Other than these changes, the organizational structure, vision and objectiv= es=20 detailed out for EES at the All-Employee Meeting in March remain. We need = to=20 continue to understand and drive deeper into our markets, manage our client= =20 relationships, mine our portfolio, build new products and execute on our=20 opportunities. Thanks for all your hard work. With your help we will become the Worlds=20 Leading Energy Retailer and Enron=01,s Leading Division. If you have any= =20 questions please do not hesitate to ask=20
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