Commerce Energy Group Announces Appointment of New Chief Executive Officer
August 02 2005 - 5:26PM
PR Newswire (US)
COSTA MESA, Calif., Aug. 2 /PRNewswire-FirstCall/ -- Commerce
Energy Group, Inc. (AMEX:EGR), the largest non-utility retail
energy marketer in the U.S., announced today that its Board of
Directors appointed Steven S. Boss as the Company's Chief Executive
Officer on August 1, 2005. Mr. Boss has practiced law in private
practice since 2003, specializing in the representation of energy
companies and commercial energy users. Mr. Boss also has
significant operating experience in the retail energy industry.
From 2000 to 2003, Mr. Boss served as president of Energy Buyers
Network, LLC, an energy consulting firm that provided regulatory
representation and structured direct access energy transactions for
commercial energy users. From 1999 to 2000, he served as president
of both Sierra Pacific Energy Company and Nevada Power Services,
non-regulated energy services operating subsidiaries of Sierra
Pacific Resources. Prior to that, Mr. Boss served in various legal
and senior management positions in a number of energy companies and
practiced law in private practice. Of particular note, from 1984 to
1992, Mr. Boss served as president and chief executive officer of
Sunrise Energy Services, Inc., at the time, one of the largest
independent natural gas marketing companies in the commercial
market sector in the United States, which had its shares listed on
the American and London Stock Exchanges. Mr. Boss holds a B.S.
Degree in Aerospace Engineering from the University of Texas and a
law degree from the University of Southern California. "We are
extremely pleased to announce the appointment of Mr. Boss as our
Chief Executive Officer," said Robert C. Perkins, Chairman of the
Board of Commerce Energy Group. "We look forward to the leadership
that Mr. Boss will bring to Commerce with his extensive operating
experience in the energy industry." Mr. Boss, who was recently
appointed as a member of the Board of Directors, will continue to
serve as a Class I director. In order to have the Audit and
Compensation Committees of the board comprised solely of
independent directors, Mr. Boss stepped down as a member of those
committees, effective August 1, 2005. Charles E. Bayless was
appointed as a member of the Compensation Committee to replace Mr.
Boss. In other board matters, the board appointed Mark S.
Juergensen as Chairman of the Compensation Committee, succeeding
Gregory L. Craig, whose service as a director ended effective at
the close of business on August 1, 2005. As a result of the
appointment of Mr. Boss as Chief Executive Officer, the Company's
board of directors currently consists of six directors, three of
whom are independent under the rules of the American Stock
Exchange. The Company is conducting a search for an additional
independent director. About Commerce Energy Group, Inc. Commerce
Energy Group, Inc. (AMEX:EGR) is a holding company with operations
under wholly owned subsidiaries Commerce Energy, Inc., Skipping
Stone, Inc. and Utilihost, Inc. Commerce Energy, Inc. is a FERC
licensed unregulated retail marketer of natural gas and electricity
to homeowners, commercial and industrial consumers, and
institutional customers in nine states. Skipping Stone is an energy
consulting firm serving utilities, pipelines, merchant trading and
technology companies. Utilihost provides outsourced energy
transaction and data management services for municipalities,
government facilities, power generators and energy merchant
customers. For more information, visit
http://www.commerceenergygroup.com/. Forward-Looking Statements:
Certain statements contained within this press release including,
without limitation, statements containing the words "believe,"
"anticipate," "expect," "estimate," "await," "continue," "intend,"
"plan" and similar expressions are forward-looking statements that
involve risks and uncertainties. These forward-looking statements
are not guarantees of future performance and involve certain risks,
uncertainties and assumptions that are difficult to predict. Actual
outcomes and results may differ materially from what is expressed
in, or implied by, such forward-looking statements. The risks and
uncertainties that could cause actual results to differ materially
from those expressed in, or implied by, the forward-looking
statements include, but are not limited to, the volatility of the
energy market, competition, Commerce Energy's ability to
successfully integrate newly-acquired businesses, operating
hazards, uninsured risks, changes in energy-related state
legislation, failure of performance by suppliers and transmitters,
uncertainties relating to litigation, changes in general economic
conditions, increased or unexpected competition, and other matters
disclosed in Commerce Energy's filings with the Securities and
Exchange Commission. Further, Commerce Energy undertakes no
obligation to release publicly any revisions to these
forward-looking statements that may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events. DATASOURCE: Commerce Energy Group, Inc.
CONTACT: Investor Relations, Verna Ray of Commerce Energy Group,
+1-281-902-5127, Web site: http://www.commerceenergygroup.com/
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