Dynegy Inc. announced that Thomas W. Elward, a current independent member of the Dynegy board of directors, will serve as the nonexecutive chairman of the board and E. Hunter Harrison will resign as chairman of the board and director, effective Dec. 16.
“Hunter provided leadership through a very challenging transition earlier this year,” said Robert C. Flexon, Dynegy director, president and CEO. “The company appreciates his contributions as both interim CEO earlier this year and as chairman of the board.”
Harrison and Elward both joined the Dynegy board in March 2011. Elward is a member of the audit and compliance committee of the board and serves as the chairman of the corporate governance and nominating committee. Elward’s experience in the power generation industry will be constructive as Dynegy seeks to return to normal operations after an extended period of corporate reorganization activities.
Elward, 63, served as president and chief operating officer of CMS Enterprises from March 2003 to July 2008. He previously served in various roles with CMS Generation, a subsidiary of CMS Enterprises, including president and chief operating officer from March 2003 to July 2008; president and CEO from January 2002 to February 2003; senior vice president of operations and asset management from July 1998 to December 2001; and vice president of operations from March 1990 to June 1998. Prior to CMS Enterprises, he held roles of increasing responsibility at Consumers Power, advancing to the position of plant manager.
Harrison, 67, is currently a private investor. He served as president and CEO of Canadian National Railway Co. from January 2003 until December 2009 and as its chief operating officer from 1998 until 2003. Prior to joining Canadian National Railway, Harrison was president and CEO of Illinois Central Railroad from 1993 until February 1998 and its chief operating officer from 1989 to 1993. Harrison served on the board of directors of Canadian National Railway from December 1999 until December 2009. He also served on the boards of The American Association of Railroads, The Belt Railway of Chicago, Terminal Railway, Wabash National Corp., Illinois Central Railroad and TTX Co.
About Dynegy Inc.
Dynegy’s subsidiaries produce and sell electric energy, capacity and ancillary services in key U.S. markets. The Dynegy Power LLC power generation portfolio consists of some 6,771 MW of primarily natural gas-fired intermediate and peaking power generation facilities. The Dynegy Midwest Generation LLC portfolio consists of some 3,132 MW of primarily coal-fired baseload power plants. The DNE portfolio consists of some 1,693 MW from two power plants that are primarily natural gas-fired peaking and baseload coal generation facilities.