Pamela Keefe Named CFO of CVPS
May 11 2006 - 5:36PM
Business Wire
Pamela Keefe, senior director of financial strategy with IDX
Systems Corp., has been named vice president, chief financial
officer and treasurer of Central Vermont Public Service (NYSE: CV).
Keefe will begin her new position on June 5. "Pamela will play a
prominent role in executing our financial restoration plan and
planning our energy future, which are critical to the company,"
CVPS President Bob Young said. "She has an extensive background in
finance and accounting, and the significant technical expertise
needed to effectively manage the diverse financial challenges we
face." In addition to strategic financial planning at IDX, Keefe
was responsible for target valuation and analysis, cash and
investment management, Sarbanes Oxley entity-level compliance, and
relationship management for banks, investment managers, insurers
and foreign exchange. Keefe, a resident of Bristol, held a variety
of positions with IDX over nine years, and was previously
associated with Merchants Bank and Keystone Investments Inc. of
Boston. "CVPS's financial restoration plan sets out a solid
foundation for rebuilding the company's strength and returning it
to investment grade," Keefe said. "I look forward to the challenges
this will entail, challenges that must be overcome for the sake of
customers and investors alike." Keefe earned a bachelor's degree in
economics and mathematics from St. Lawrence University and a
master's in business administration from St. Michael's College. She
has also completed executive education in driving corporate
performance at the Harvard Graduate School of Business. On Tuesday,
the company announced the appointment of Burlington attorney Mary
Alice McKenzie as chair of the board. As part of a board
reorganization, the board accepted resignations from Timothy Cobb
of South Carolina and George MacKenzie Jr. of Pennsylvania.
Vermonters William Stenger, Bill Sayre and Douglas Wacek have
joined the board. Stenger, 57, is president of Jay Peak Resort and
a resident of Newport, Vt. Wacek, 54, is the president and CEO of
the Union Mutual Insurance Group in Montpelier, Vt. He is a
certified public accountant and a resident of Burlington, Vt.
Sayre, 55, is president of Duncan Hermanson Corp., a real estate
investment company with holdings in Vermont and New York. He is a
resident of Bristol, Vt. CVPS, founded in 1929, is Vermont's
largest electric utility, serving more than 151,000 customers.
Forward-Looking Statements Statements contained in this report that
are not historical fact are forward-looking statements intended to
qualify for the safe-harbors from the liability established by the
Private Securities Litigation Reform Act of 1995. Statements made
that are not historical facts are forward-looking and, accordingly,
involve estimates, assumptions, risks and uncertainties that could
cause actual results or outcomes to differ materially from those
expressed in the forward-looking statements. Actual results will
depend, among other things, upon the actions of regulators,
performance of the Vermont Yankee nuclear power plant, effects of
and changes in weather and economic conditions, volatility in
wholesale electric markets and our ability to maintain our current
credit ratings. These and other risk factors are detailed in CV's
Securities and Exchange Commission filings. CV cannot predict the
outcome of any of these matters; accordingly, there can be no
assurance that such indicated results will be realized. Readers are
cautioned not to place undue reliance on these forward-looking
statements that speak only as of the date of this press release. CV
does not undertake any obligation to publicly release any revision
to these forward-looking statements to reflect events or
circumstances after the date of this press release.
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