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Content-Type: text/plain; charset=ANSI_X3.4-1968 Content-Transfer-Encoding: quoted-printable X-From: Enron Announcements X-To: All ENA Domestic Employees X-cc: X-bcc: X-Folder: \Gerald_Nemec_Dec2000_June2001_1\Notes Folders\Notes inbox X-Origin: NEMEC-G X-FileName: gnemec.nsf Effective immediately, Ray Bowen will take over leadership of the Industria= l=20 Origination Group responsible for Enron North America=01,s origination=20 activities in the industrial market including pulp & paper, metals, refinin= g,=20 and petrochemicals. As part of the Industrial Origination Group, Jim Ajell= o,=20 will continue to lead the origination effort in the metals, refining, and= =20 petrochemical sector. Edward Ondarza maintains oversight of origination in= =20 the pulp and paper sectors. Rodney Malcolm retains primary responsibility= =20 for leading the execution of transactions and delivery of the outsource=20 solutions to industrial customers. When the Commercial Transactions Group was created approximately a year ago= ,=20 the objective was to create an internal emphasis on the development of=20 transaction execution skills that are necessary to execute complex,=20 structured transactions and to foster better deal quality. We believe that= =20 the primary objectives of the CTG have been achieved, and in order to bette= r=20 position the organization for the remainder of 2000 and in response to Ray= =20 Bowen=01,s new position, the following changes will be made in the Commerci= al=20 Transactions Group organization. Transaction Development: Transaction Development, which was created to=20 provide focused deal execution capability to the Origination groups, will b= e=20 merged into each respective origination group and report solely to the grou= p=20 leaders.=20 Portfolio Management: All activities surrounding portfolio investments wil= l=20 report to Jeff Donahue. Jeff will be responsible for ENA=01,s =01&capital = book=018=20 and will have a high level of involvement in existing portfolio investments= =20 and will work closely with ENA Treasury and the various origination groups = to=20 assure that new transactions (a) incorporate appropriate risk/return=20 characteristics, (b) are evaluated in the context of market based pricing= =20 signals, and © incorporate a specific investment plan which includes=20 syndication of the investment, if applicable, and a specific exit strategy.= =20 Portfolio Management includes Restructuring/Special Assets (Randy=20 Maffett/Dick Lydecker) and Capital Structuring (Andrea Reed). Steve Pruett= =20 (Energy Capital Resources), Chuck Ward (Generation Investments), Don Miller= =20 (Merchant Generation), and Chris Helfrich (Coal and Industrial) will contin= ue=20 to be responsible for day to day asset management for performing investment= s=20 and will report to their respective origination units with a dual report to= =20 Jeff. Jeff will retain his Corporate Development and Principal Investments= =20 activities. Commodity Structuring: Commodity Structuring including Berney Aucoin (Powe= r)=20 and Ed McMichael (Gas) will report to Janet Dietrich. Janet will retain=20 responsibility for East Midstream Origination. Commodity Structuring will= =20 continue to work to facilitate and structure the highest priority and highe= st=20 value transactions across the entire ENA organization. Technical/OEC: The Technical Group (Wayne Mays/Bob Virgo), which provides= =20 technical support to industrial and power generation asset development=20 activities, and OEC (lead by Mark Dobler) will report directly to the ENA= =20 Office of the Chairman. In addition to these changes, Joe Deffner has been named ENA=01,s Chief=20 Financial Officer and will head ENA Treasury. In this role he will be=20 responsible for managing ENA=01,s balance sheet and the sourcing of capital= in=20 the bank and capital markets. Joe will report jointly to the ENA Office of= =20 the Chairman and to Enron Corp. Global Finance.
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