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BULLETIN: Westar Energy Inc. Names New CEO Nov 02
Standard & Poors, Nov 2002
Abstract
Standard & Poor's Ratings Services noted today that the election of James S. Haines, Jr. as director, chief executive officer (CEO) and president of Westar Energy, Inc. (BB+/Watch Neg/--), effective Dec. 9, 2002, may help to restore currently strained regulatory relationships and strengthen the company's frail financial condition. The Board of Directors will also elect a new chairman from among its independent directors on Dec. 11, 2002. Mr. Haines replaces former president and chief executive officer David Wittig who resigned on Nov. 22, 2002, after being placed on administrative leave on Nov. 7, 2002. Mr. Haines has extensive experience as an executive in the utility industry, having worked with Westar's predecessor companies for 16 years, most recently serving as the...
Companies mentioned in this report are: Westar Energy Inc.,El Paso Electric Co.
Action: S&P Event
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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