Nolen Steps Down as Cleco Corp. CFO, Davis Named Interim
May 09 2008 - 4:30PM
Marketwired
PINEVILLE, LA announced today that Kathleen Nolen, senior vice
president and chief financial officer (CFO), is leaving the company
effective May 31. Russell Davis, vice president and chief
accounting officer, will serve as interim CFO.
Nolen will join the staff of The Rapides Foundation, a $230
million endowed charitable foundation devoted to improving the
health status of central Louisiana.
"We appreciate Kathleen's service during her tenure as CFO,"
said President and CEO Mike Madison. "She led the effort to finance
Rodemacher 3, the largest generating project in our company's
history. She has done an excellent job developing financial
strategies to increase shareholder value, and I personally will
miss her. We wish her well in her new endeavor."
Davis, a certified public accountant, has been with Cleco since
2000. Prior to that time, he was controller for a number of
companies in Central and South West Corporation. He is an active
board member for the American Red Cross - Central Louisiana Chapter
and the regional advisory board of the Council for a Better
Louisiana. Davis holds an accounting degree from McMurry University
in Abilene, Texas.
Cleco Corp. is a regional energy company headquartered in
Pineville, La. It operates a regulated electric utility company
that serves about 273,000 customers across Louisiana. Cleco also
operates a wholesale energy business with approximately 1,350
megawatts of nameplate generating capacity. For more information
about Cleco, visit www.cleco.com.
Investor Contacts: Cleco Corporation Ryan Gunter (318) 484-7724
Shareholder Services: Rodney Hamilton (318) 484-7593 Analyst
Inquiries: Kristine Walczak (312) 780-7205 Media Contact: Susan
Broussard (318) 484-7773
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