CVPS CFO Resigns; Internal Auditor Accepts Interim Post
October 11 2005 - 5:57PM
Business Wire
Jean Gibson tendered her resignation as senior vice president,
chief financial officer, and treasurer of Central Vermont Public
Service Corp. (NYSE: CV), effective Oct. 10, 2005. "Jean has been a
vital part of the management team, and deserves credit for our
financial reporting compliance with the Sarbanes Oxley Act. I am
confident in our continued ability to meet the highest standards in
our financial management of the company," President Bob Young said.
"In the spirit of Sarbanes Oxley, it is important to note that
Jean's resignation is not related to any inaccuracy or omission in
the company's accounting systems or financial reporting," Young
said. "CVPS maintains the highest standards for its internal
controls and financial reporting. Our independent auditors issued
an unqualified opinion on our financial statements through year-end
2004. In addition, we received an unqualified opinion from our
independent auditors regarding management's assessment of our
internal controls over financial reporting through year-end. The
company and our auditors continue to test these controls throughout
the year." Ed Ryan has been appointed to serve as the acting chief
financial officer and treasurer for the company, effective
immediately. Ryan began his career at CVPS in 1984. In 2000, Ryan,
then director of accounting, left the company to join the Home
Service Store, a CVPS affiliate, where he served as controller
until 2003. He then rejoined CVPS as director of internal audit.
Ryan received his undergraduate degree from Castleton State College
and a Master's in Business Administration from the University of
Vermont. "Ed knows the company, and will serve us well as we move
forward," Young said. "He is a skilled and talented leader who
understands our business and can provide strong leadership to the
Finance Department of the company."
Central Vermont Public Service (NYSE:CV)
Historical Stock Chart
From Jun 2024 to Jul 2024
Central Vermont Public Service (NYSE:CV)
Historical Stock Chart
From Jul 2023 to Jul 2024