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Enron Mail |
We are pleased to announce the following organizational changes:
Enron Global Assets and Services In order to increase senior management focus on our international businesse= s,=20 we are creating a new business unit, Enron Global Assets and Services=20 (EGAS). EGAS will be led by Kevin Hannon, Chief Executive Officer, and Jim= =20 Hughes, Chief Operating Officer. Kevin will report to the Enron Corp. Offi= ce=20 of the Chairman. With the exception of the Wessex Water Company (which wil= l=20 remain in the Enron Transportation Services organization) and Enron India= =20 (discussed below), EGAS will include all of the assets and activities of th= e=20 former Enron Global Assets group and the Azurix organization. EGAS will=20 include Enron=01,s assets and merchant activities in South America. In ord= er to=20 ensure continuity in the management of our South American merchant business= ,=20 John Lavorato will remain responsible for those merchant activities. John= =20 will report to Kevin Hannon with respect to the South American merchant=20 business, and will continue to report to the Enron Wholesale Services Offic= e=20 of the Chairman for all other activities in his role as Chief Executive=20 Officer of Enron Americas. Enron India Enron=01,s significant interests in India are commanding increased attentio= n=20 from Enron=01,s senior management. We are pleased to announce that Rebecca= =20 McDonald will focus exclusively on Enron=01,s business in India, as Chief= =20 Executive Officer of Enron India, reporting to the Enron Corp. Office of th= e=20 Chairman. Enron Broadband Services With Kevin=01,s departure from Enron Broadband Services (EBS), we are also= =20 making a number of changes in the EBS organization. Jim Fallon will now be= =20 President and Chief Operating Officer of EBS. Paul Racicot, Marcello Roman= o=20 and Fred Cohagan will maintain their EBS risk management activities within= =20 their respective regions. Dave Cox will continue as Chief Commercial Offic= er=20 of EBS and will also join Ken Rice and Jim Fallon in the EBS Office of the= =20 Chairman. Finally, Rick Fehl will continue as Vice President of Network=20 Engineering and Chief Network Officer but will now report to the EBS Office= =20 of the Chairman. Enron Principal Investments In order to better develop and manage equity investment opportunities relat= ed=20 to Enron=01,s core businesses, we are combining the existing investment gro= ups=20 in ENA, EBS, Enron Investment Partners and the Enron Special Asset Group in= to=20 a single unit, Enron Principal Investments. Enron Principal Investments wi= ll=20 work with all Enron business units to identify, execute, and manage equity= =20 investments that leverage Enron's unique and proprietary knowledge. These= =20 investments may be in the form of venture capital, leveraged buy-outs,=20 traditional private equity and distressed debt positions. This new busines= s=20 unit will be headed by Kevin Garland, Managing Director, and will report to= =20 an investment committee consisting of Dave Delainey, Ken Rice, and Greg=20 Whalley.=20 Enron Corporate Development In order to improve coordination of Enron=01,s corporate development activi= ties,=20 we are consolidating these activities under Andy Fastow, Executive Vice=20 President and Chief Financial Officer. Jeff Donahue, Managing Director of= =20 Corporate Development for EBS will now head Corporate Development across=20 Enron. Corporate Development leaders in the business units will have a dua= l=20 reporting relationship to their business units and to Jeff. One of Enron=01,s most compelling challenges is the sale of certain assets = or=20 businesses that are no longer core operations. Mark Metts, Executive Vice= =20 President of Enron Corp., will head up a new Special Projects group to=20 specifically focus on the completion of some of these more challenging=20 transactions. =20 Please join us in congratulating all of these individuals on their new=20 responsibilities.
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