PPL Names New Chief Risk Officer
September 23 2009 - 12:20PM
PR Newswire (US)
ALLENTOWN, Pa., Sept. 23 /PRNewswire-FirstCall/ -- PPL Corporation
(NYSE: PPL) announced Wednesday (9/23) that it has named a company
and industry veteran as its new chief risk officer. J. Matt
Simmons, who has served as PPL Corporation's vice president and
corporate controller for three years, has been named vice
president-Risk Management and chief risk officer. He replaces Vijay
Singh, who is resigning from the company. "We thank Vijay for his
efforts over the past seven years in establishing a robust,
comprehensive risk management system at PPL. We wish him well as he
moves on to new career opportunities," said Paul Farr, PPL
executive vice president and chief financial officer. "We're very
pleased to have someone of Matt's extensive national and
international financial experience in place to assume this
position," said Farr. "Matt already serves on the company's Risk
Management Committee, is intimately familiar with the company's
activities and protocols. He also has previous experience, before
coming to PPL, as a chief risk officer." Farr said that Simmons
will continue to oversee the company's controller group while a
search is completed for his successor. In the meantime, Mark Woods,
assistant controller, will serve as acting controller, reporting to
Simmons. Simmons has served as PPL's vice president and controller
since February of 2006. He has more than 20 years of auditing,
accounting and risk management experience, much of it derived from
his work in the capital markets and energy trading and marketing on
both the domestic and international levels. Simmons came to PPL
after serving as vice president-Finance and controller for Duke
Energy Americas in Houston. He joined Duke in 2003 as vice
president and controller for Duke Energy North America. Prior to
that he spent five years at Reliant Energy, where he held a number
of positions, including chief risk and accounting officer for
Reliant Energy Europe. He began his career with
PricewaterhouseCoopers in Houston and held positions with the firm
in Caracas, Venezuela; Rio de Janeiro, Brazil; and U.S. national
offices. Simmons earned an accounting degree from Texas A&M
University and is a fellow of the College of Business
Administration at the university. Singh has served as PPL's vice
president of risk management since 2002. He came to the company
from ConAgra Foods and had previous experience at Cinergy Power
Markets. PPL Corporation, headquartered in Allentown, Pa., owns or
controls more than 12,000 megawatts of generating capacity in the
United States, sells energy in key U.S. markets and delivers
electricity to about 4 million customers in Pennsylvania and the
United Kingdom. DATASOURCE: PPL Corporation CONTACT: Dan McCarthy
of PPL Corporation, +1-610-774-5758 Web Site:
http://www.pplweb.com/
Copyright