William E. Oberndorf Joins Calpine’s Board of Directors
January 05 2011 - 5:02PM
Business Wire
William E. Oberndorf has been elected to the Board of Directors
of Calpine Corporation (NYSE:CPN) effective January 1, 2011. Mr.
Oberndorf is a founding partner of SPO Partners & Co., a
private equity investment firm which holds approximately 21 percent
of Calpine’s shares. Mr. Oberndorf was elected by the Board to fill
the director seat held by William J. Patterson, Calpine’s former
board chairman and managing partner at SPO Partners until his death
in September 2010. J. Stuart Ryan, a venture partner with SPO
Partners and a Calpine Board member since January 2008, was named
Chairman of Calpine’s board on November 3, 2010.
Mr. Oberndorf currently serves as chairman of the boards of
directors of Aggregates USA and Rosewood Hotels & Resorts, on
the investment committee of Hotel Equity Funds and as director
emeritus of Plum Creek Timber Co. Previously, he was board chairman
of Voyager Learning Company and a member of the boards of Taft
Broadcasting Company and Wometco Cable Television Corporation.
“Bill’s business and investment acumen and experience make him
particularly well-suited to represent our shareholders in providing
guidance and oversight to management,” said Calpine’s Chief
Executive Officer and President Jack Fusco. “We are delighted to
have Bill on the Board and look forward to his contributions to our
vision of becoming the premier independent power company in the
nation.”
Mr. Oberndorf also serves a number of non-profit organizations
with a particular emphasis on education reform. He is currently
chairman emeritus of the American Federation for Children and the
Alliance for School Choice and remains a board member of the latter
and is a trustee of the Thacher School in Ojai, California, The
University of California San Francisco Foundation and the
University School in Cleveland, Ohio. He formerly served as trustee
of Williams College, the Stanford University Graduate School of
Business Trust, University High School in San Francisco and the Bay
Area Discovery Museum. Such activities have earned Mr. Oberndorf
honors from the Black Alliance for Education Options and the
Philanthropy Roundtable. He is the 2010 recipient of the John T.
Walton Champions for Education Choice Award.
Mr. Oberndorf earned a Master of Business Administration from
Stanford Graduate School of Business and a Bachelor of Arts from
Williams College.
About Calpine
Founded in 1984, Calpine Corporation is a major U.S. power
company, currently capable of delivering approximately 27,500
megawatts of clean, cost-effective, reliable and fuel-efficient
power from its 91 operating plants to customers and communities in
20 U.S. states and Canada. Calpine Corporation is committed to
helping meet the needs of an economy that demands more and cleaner
sources of electricity. Calpine owns, leases and operates
low-carbon, natural gas-fired and renewable geothermal power
plants. Using advanced technologies, Calpine generates power in a
reliable and environmentally responsible manner for the customers
and communities it serves. Please visit our website at
www.calpine.com for more information.
Forward-Looking Information
In addition to historical information, this release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Words such as
“believe,” “intend,” “expect,” “anticipate,” “plan,” “may,” “will”
and similar expressions identify forward-looking statements. Such
statements include, among others, those concerning expected
financial performance and strategic and operational plans, as well
as assumptions, expectations, predictions, intentions or beliefs
about future events. You are cautioned that any such
forward-looking statements are not guarantees of future performance
and that a number of risks and uncertainties could cause actual
results to differ materially from those anticipated in the
forward-looking statements. Please see the risks identified in this
release or in Calpine’s reports and registration statements filed
with the Securities and Exchange Commission, including, without
limitation, the risk factors identified in its Annual Report on
Form 10-K for the year ended Dec. 31, 2009, and its Quarterly
Report on Form 10-Q for the quarter ended Sept. 30, 2010. These
filings are available by visiting the Securities and Exchange
Commission’s website at www.sec.gov or Calpine’s website at
www.calpine.com. Actual results or developments may differ
materially from the expectations expressed or implied in the
forward-looking statements, and Calpine undertakes no obligation to
update any such statements.
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