Just Energy Announces Evolution of its Senior Management Team to Provide Enhanced Strategic Direction and Oversight
September 28 2020 - 11:00AM
Just Energy Group Inc. (“Just Energy” or the “Company”)
(TSX:JE; NYSE:JE), a retail energy provider specializing in
electricity and natural gas commodities and bringing energy
efficient solutions and renewable energy options to customers,
today announced changes to its senior management team to provide
enhanced strategic direction and oversight, including the hiring of
a new Chief Financial Officer and the appointment of existing
executives to new roles within the Company.
The Company has named Michael Carter as Chief
Financial Officer. He brings more than 20 years of industry
expertise, including over 10 years with predecessors of Vistra
Corporation and its subsidiaries including TXU Energy, where he
served as Chief Financial Officer for more than three years.
Mr. Carter will assume the role of Chief
Financial Officer from Jim Brown, who will become the Company’s new
Chief Commercial Officer with the overall responsibility for
delivering the Company’s gross margin. Scott Fordham will become
the Company’s new Chief Operating Officer with responsibility for
all retail operations and customer satisfaction.
“With our focus now firmly on building a
stronger, more efficient Just Energy, having talented leaders with
extensive industry experience and the ability to drive consistent
performance is crucial to our future success,” said Scott Gahn,
Just Energy’s President and Chief Executive Officer. “By moving
experienced leaders on the Just Energy team into new roles, we are
able to retain important company and industry knowledge, while also
making room for fresh perspectives in our management team as we
reposition Just Energy for the future.”
“We are pleased to welcome Michael Carter, whose
strong financial experience and knowledge of the industry will
benefit our daily operations as well as deepen relationships with
our financial partners. Given the impressive impact Jim and Scott
have had in their prior roles at Just Energy, we look forward to
the advancements they will make in their new roles.”
Michael Carter’s broad industry experience
includes holding key roles in finance, corporate planning and
treasury, corporate development and operations. Mr. Carter most
recently served as Senior Vice President, Finance at Hunt Power
& Hunt Utility Services, an affiliate of Hunt Consolidated,
Inc. Prior to his time at Hunt, he held the positions of Senior
Vice President, Corporate Planning and Assistant Treasurer and
Senior Vice President, Corporate Development at Energy Future
Holdings Corporation (the predecessor of the parent company of
Vistra Corporation). He holds a Bachelor of Science, Accounting,
from Louisiana State University in Shreveport.
Jim Brown has been with Just Energy for over
seven years and has been Just Energy’s CFO for the past two years,
successfully navigating the Company through the recapitalization
plan that closed today. His extensive knowledge and expertise in
commercial operations will be invaluable to his new role as he
focuses on improving profitability, developing innovative product
offerings, and driving return-based marketing initiatives.
Scott Fordham joined Just Energy in early-2020
and assumed the role of Senior Vice President-Finance and Chief
Accounting Officer. Fordham has significant hands-on industry
experience, including his leadership roles as President of Acclaim
Energy, and Chief Executive Officer and President of Champion
Energy Services. He has had considerable success in achieving
organic sales growth, developing effective organizational
structures, leading rebranding and implementing customer
satisfaction initiatives. Fordham holds a Bachelor of Business
Administration in accounting from The University of Texas at
Austin.
About Just Energy Group
Inc.
Just Energy is a consumer company focused on
essential needs, including electricity and natural gas health and
well-being, such as water quality and filtration devices; and
utility conservation, bringing energy efficient solutions and
renewable energy options to consumers. Currently operating in the
United States and Canada, Just Energy serves residential and
commercial customers. Just Energy is the parent company of Amigo
Energy, EdgePower Inc., Filter Group Inc., Hudson Energy,
Interactive Energy Group, Tara Energy, and TerraPass.
Visit https://investors.justenergy.com/ to learn more.
Also, find us on Facebook and follow us
on Twitter.
FORWARD-LOOKING STATEMENTS This
press release may contain forward-looking statements. These
statements are based on current expectations that involve a number
of risks and uncertainties which could cause actual results to
differ from those anticipated. These statements are based on
current expectations that involve several risks and uncertainties
which could cause actual results to differ from those anticipated.
These risks include, but are not limited to, risks with respect to
the recapitalization transaction resulting in a financially
stronger Company; the value of existing equity following the
completion of the recapitalization; the impact of the evolving
COVID-19 pandemic on the Company’s business, operations and sales;
reliance on suppliers; uncertainties relating to the ultimate
spread, severity and duration of COVID-19 and related adverse
effects on the economies and financial markets of countries in
which the Company operates; the ability of the Company to
successfully implement its business continuity plans with respect
to the COVID-19 pandemic; the Company’s ability to access
sufficient capital to provide liquidity to manage its cash flow
requirements; general economic, business and market conditions; the
ability of management to execute its business plan; levels of
customer natural gas and electricity consumption; extreme weather
conditions; rates of customer additions and renewals; customer
credit risk; rates of customer attrition; fluctuations in natural
gas and electricity prices; interest and exchange rates; actions
taken by governmental authorities including energy marketing
regulation; increases in taxes and changes in government
regulations and incentive programs; changes in regulatory regimes;
results of litigation and decisions by regulatory authorities;
competition; the performance of acquired companies and dependence
on certain suppliers. Additional information on these and other
factors that could affect Just Energy’s operations, financial
results or dividend levels are included in Just Energy’s annual
information form and other reports on file with Canadian securities
regulatory authorities which can be accessed through the SEDAR
website at www.sedar.com on the U.S. Securities and Exchange
Commission’s website at www.sec.gov or through Just Energy’s
website at www.justenergygroup.com.
Neither the Toronto Stock Exchange nor the New
York Stock Exchange has approved nor disapproved of the information
contained herein.
FOR FURTHER INFORMATION PLEASE
CONTACT: Michael
CarterChief Financial OfficerJust
Energymcarter@justenergy.com
or
InvestorsMichael CummingsAlpha
IRPhone: (617) 982-0475 JE@alpha-ir.com
MediaBoyd ErmanLongview
CommunicationsPhone: 416-523-5885berman@longviewcomms.ca
Source: Just Energy Group Inc.
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