Pantellos strengthens executive team

THE WOODLANDS, TEXAS, July 15, 2003 — Pantellos, the independent electronic marketplace and supply chain services company for the utility and energy industries, has announced another executive appointment that rounds out its senior management team. The company announced that it has named Donald Rueter as vice president, supply management.

Rueter will be responsible for the development and delivery of all services in the Pantellos Supply Management portfolio, including sourcing services, auctions operations, integrated supply management, industry benchmarking and market research services. He brings to this position more than 25 years of senior management experience in the utility industry, with an extensive supply chain background.

Most recently, Rueter was director, procurement & eBusiness, for Entergy Services, Inc., and was responsible for leading the company’s transformation to an automated supply chain that incorporated various new e- procurement systems and programs. Rueter also spent a number of years with other Entergy companies, serving in several management roles, including distribution operations, supply chain management and technical and environmental services.

“We are very pleased to have a person of Don’s caliber and experience leading our Supply Management Services,” said Jim Neikirk, president and CEO for Pantellos. “Don has proven his ability to implement utility supply chain initiatives that create value and generate savings. Under his leadership, we expect continued excellence and continuous improvement in delivering services that help customers reduce costs, improve efficiencies and accomplish their business objectives.”

“With the constraints and challenges facing utility supply chain organizations today, effective sourcing strategies are more important than ever,” said Rueter. “I am excited to be part of a company that not only develops innovative approaches to sourcing, but also offers the implementation expertise to help customers put their plans into action and achieve real results.

Pantellos has been an instrumental partner in Entergy’s supply chain improvement efforts, and as a Pantellos team member, I now look forward to helping other utility customers accomplish their supply chain goals.” Pantellos Executive Team Starting with the naming of Jim Neikirk as president and CEO in April 2003, Pantellos has enhanced its leadership team with a number of elevations and new appointments. The entire Pantellos executive team includes:

Brian Baird, Vice President, General Counsel and Secretary – Baird was promoted to vice president in June 2003 and is responsible for managing the organization’s legal and contractual issues. He has more than 14 years of technology, e-commerce, and general corporate law experience, including positions as outside counsel at the law firms of Boyar & Miller and Jenkens & Gilchrist.

Randall Dobbins, Vice President, Marketplace & Corporate Development – Appointed to this position in May 2003, Dobbins is responsible for all facets of the Pantellos electronic marketplace. Dobbins has more than 20 years of e-commerce, supply chain management and business development experience in the utility and energy industries, including e-business and supply chain leadership roles at Wesco Distribution and Shell Oil Company.

James Hagemeier, Vice President and Chief Financial Officer – Hagemeier was promoted to this position in April 2003 after having served as corporate controller and director of finance.

Since joining Pantellos, Hagemeier has been instrumental in establishing cost management, accounting, treasury, tax and financial planning processes. As CFO, he continues to provide financial leadership by managing all corporate financial functions. Hagemeier is a Certified Public Accountant (CPA) and has more than 10 years of experience in various treasury, accounting and management roles at Metals USA and Synagro Technologies, Inc.

Jim Neikirk, President and CEO – Named to this position April 8, 2003, Neikirk is a former Pantellos customer who brings more than 30 years of supply chain and energy industry experience to the role. Neikirk joined Pantellos as CEO after spending five years at Entergy Corporation as vice president, supply chain and chief procurement officer (CPO). While at Entergy, Neikirk led the effort to streamline and significantly improve the company’s supply chain operations through various electronic commerce processes, tools and technologies. Neikirk also spent more than 20 years at Shell Oil Company in a variety of supply chain positions.

Steve Newland, Vice President, Sales and Marketing – Newland plays a key role in helping the company reach its revenue and profit goals by leading all sales and marketing programs, including customer development, business development, product marketing and marketing communications. Newland has more than 20 years of business experience, with a focus in the areas of marketing, management, operations and e-commerce at Industria Solutions, W.W. Grainger and Honeywell.

Don Rueter, Vice President, Supply Management – Appointed to this position in July 2003, Rueter is responsible for the development and delivery of all services in the Pantellos Supply Management portfolio, including sourcing services, auctions operations, integrated supply management, industry benchmarking and market research services. Rueter has more than 25 years of senior management experience in the utility industry, with an extensive supply chain background at Entergy Services, Inc., and other Entergy companies.

“Through these recent changes and new appointments, we have achieved an exceptionally strong leadership team,” said Neikirk.

“With their combined industry knowledge, e-commerce experience and supply chain expertise, these individuals have the vision and the know-how to lead our team of talented associates and continue building a supply chain services company that meets customer needs and generates results.”

Significant Momentum

The recent executive appointments coincide with the achievement of significant Pantellos milestones. In April 2003, the company announced it had completed its first EBITDA-positive quarter-making it among the few electronic marketplaces to reach this financial position.

Pantellos announced in June that it had conducted more than $1 billion in online auctions for utility customers, completing a record number of auctions in May. To date, the company has generated more than $200 million in customer-reported savings.

Pantellos expects to announce results of a very positive second quarter soon. “Our continued momentum, our strong leadership team, and our breadth of results-oriented tools, technologies and services put Pantellos in prime position for continued growth in enabling supply chain excellence and customer success,” said Neikirk.

About Pantellos

Pantellos is a supply chain services company for the utility and energy industries. Built by the industry, for the industry, Pantellos offers access to deep supply chain expertise, a broad suite of supply chain services, an active trading community and leading-edge technologies.


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