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---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 12/17/99=20
03:01 PM --------------------------- =20 =09Enron North America Corp. =09 =09From: Enron NA Office of the Chairman 12/16/9= 9=20 01:15 AM =09 To: All Enron North America cc: =20 Subject: Organizational Changes To: Enron North America Corp. From: Cliff Baxter and Kevin Hannon In July, as part of the Enron North America (ENA) reorganization, the=20 implementation of several objectives were highlighted as critical to the=20 continued growth of ENA including: 1) accelerate the development of our=20 people, 2) significantly expand our customer network and associated markets= ,=20 and 3) accelerate and enhance the information flow between groups, both=20 within ENA and across Enron. Consistent with these objectives and with the= =20 corporate goal of fostering =01&One Enron=018, we would like to announce th= e=20 following organizational changes in the Coverage/Origination Groups and the= =20 Commercial Transactions Group within ENA. 1) Coverage/Origination: To ensure a consistent strategy, the free flowing of resources and product= =20 technology and the appropriate focus in the midstream and downstream=20 businesses, the following coverage/origination groups will be consolidated= =20 under the leadership of Dave Delainey : a) power development solutions for electric and gas utilities, municipals,= =20 co-ops, energy service companies and IPP=01,s; b) the Downstream Coverage/Origination groups which focus on delivering a= =20 broad range of products and services to the heavy industrial customers=20 including pulp and paper, chemicals, plastics, refined products, metals an= d=20 mining, heavy manufacturing, industrial gases, fertilizers, transportation,= =20 textiles and glass manufacturing the Eastern and Western U.S. Midstream=20 Coverage/ Origination groups which focus on energy, finance and industries. Downstream Coverage/Origination As energy deregulation continues in North America, it is becoming clear tha= t=20 the heavy industrial segment will be an important customer market for both= =20 ENA and Enron Corp. Further, it is clear that ENA can significantly expand= =20 its industrial customer network and create more innovative industrial=20 solutions by having a group that can deploy all the capabilities of Enron= =20 Corp. Against this backdrop, the Downstream Coverage/Origination function= =20 will expand its product offering to include not only ENA=01,s existing ener= gy=20 commodities, energy services, finance, assets and pulp and paper capabiliti= es=20 but also EES=01,s energy outsourcing capability and Global Fuel=01,s chemic= als,=20 plastics and refined products risk management capability. These additional= =20 capabilities will be offered in conjunction with EES and the Global Fuels= =20 groups. Given the size and importance of this Enron initiative, Greg Piper= =20 will be returning from Portland to manage this business. Under Greg=01,s=20 leadership, the Downstream Origination effort will be segmented into three= =20 sub-groups given the nature of these industries and our product offering: a) Pulp and Paper =01) Edward Ondarza will continue to manage the coverage= =20 activities in the Pulp and Paper business. This group will be responsible f= or=20 the provision of innovative=20 products and services in the pulp and paper industry including the provisio= n=20 of paper risk management products; b) Chemicals, Plastics and Refined Products =01) We have asked Jim Ajello t= o=20 lead the coverage activities in this business. This group will be=20 responsible for the provision of innovative products and services in the=20 chemicals and refined products industries; c) Non-Integrated Industrials =01) Bruce Garner, formerly leader of Bankers= =20 Trust=01,s global metals and mining group in London, has joined ENA to lead= the=20 coverage activities in this business. This group will be responsible for t= he=20 provision of innovative products and services for the metals and mining,=20 heavy manufacturing, industrial gases, fertilizers, transportation, textile= s=20 and glass manufacturing industries. Midstream Coverage/Origination a) Eastern Coverage/Origination =01) This group=01, activities will focus o= n=20 energy, finance and power development solutions for electric and gas=20 utilities, municipals, co-ops and energy service companies in the Eastern= =20 Interconnect. We have asked Janet Dietrich to assume the leadership of thi= s=20 group; b) Western Coverage/Origination =01) This group=01,s activities will focus = on=20 energy, finance and power development solutions for electric and gas=20 utilities, municipals, co-ops and energy service companies in the WSCC. The= y=20 will also continue to manage all Qualified Facilities (QF) restructuring=20 opportunities in the Western U.S. We have asked Chris Calger to assume the= =20 leadership of this coverage group. Chris will relocate to Portland from=20 Calgary where he currently leads the Canadian downstream origination effort= s; c) IPP Merchant Coverage/Origination =01) This group=01,s activities will f= ocus on=20 the provision of structured energy, finance and asset solutions for the=20 emerging merchant power generators who control large portfolio=01,s of merc= hant=20 power generation either through development or acquisition. We have asked = =20 Mike Miller to assume the leadership of this group. In addition, Mike will= =20 continue to manage the power development activities in the Eastern=20 Interconnect; d) Eastern QF Restructuring =01) This group will focus on the QF restructur= ing=20 opportunities in the Eastern Interconnect including the existing=20 restructuring and re-capitalization of the East Coast Power assets. We hav= e=20 asked Dave Duran to assume the leadership of this business. Greg Blair,=20 formerly of Enron Asia=01,s development group, Doug Clifford, formerly of= =20 Citizens power, and Dick Lydecker, formerly of Cogen Technology, will join= =20 this newly formed business. 2) Commercial Transactions:=20 The Commercial Transactions Group (CTG), co-headed by Ray Bowen and Jeff=20 Donahue, was formed to provide a centralized resource for the execution of= =20 transactions within ENA =01) and thereby, improve ENA=01,s efficiency in ex= ecuting=20 transactions and free-up the origination groups to increase their intensity= =20 of client coverage. CTG consists of six primary functions: Transaction=20 Development, Capital Structuring and Portfolio Management, Commodity=20 Structuring and Transportation, Transactional Support/Accounting, Technical= =20 Analysis and Upstream Asset Management. The Transaction Development Group will be responsible for deal leadership,= =20 execution and optimization of all aspects of a transaction in conjunction= =20 with the originator. The function will be divided into four teams, each of= =20 which will be dedicated to between two and four origination groups. This= =20 dedication to specific groups should provide a closer link, better service= =20 and greater accountability with the origination groups; however, the CTG=20 resources are designed to be a fungible and flexible resource allocated to= =20 the highest value transactions across the coverage functions: a) Midstream Transaction Development will be dedicated to the Eastern and= =20 Western Coverage/Origination Groups. The senior members of this group=20 include Billy Lemmons, George McCormick, Erin Norris and Russ Porter. Billy= =20 Lemmons joined Enron in 1992. Most recently, he was the Vice-President of= =20 Capital Structuring and Risk Management for EES. Russ Porter joins us today= =20 from Dynegy where he was a manager with responsibilities for power=20 origination. b) Downstream Transaction Development will be dedicated to ENA=01,s industr= ial=20 origination efforts in Pulp and Paper, Petrochemicals and Refining,=20 Environmental Energy, Metals and Mining and other industries as coverage is= =20 established. The senior members of this team include Rodney Malcolm, Jay= =20 Boudreaux, Finley Biggerstaff and Chris Helfrich. We anticipate announcing= =20 two to four more additions to this team within the next few weeks. c) Generation Transaction Development will be dedicated to the IPP Merchant= =20 Services and power plant development and QF Restructuring groups. The seni= or=20 members of this team include Thomas Suffield, Andy Kelemen, Kelly Mahmoud a= nd=20 John House. Thomas Suffield joined Enron in 1996. Most recently, he was the= =20 Vice-President of Origination for the Latin American group in Azurix. We= =20 anticipate announcing two more additions to this team within the next few= =20 weeks. d) Upstream Transaction Development will be dedicated to the Producer=20 Finance, Coal and Gas Assets groups. The senior members of this team inclu= de=20 Brad Dunn, John Curtin and Chris Hilgert. We hope to announce the addition= =20 of at least one VP to this group prior to yearend. Ray Bowen will have primary oversight responsibilities for the Upstream and= =20 Downstream Transaction Development teams with Jeff Donahue having primary= =20 responsibilities for the Midstream and Generation teams. Andrea Reed will= =20 continue to head Capital Structuring and Portfolio Management: all junior= =20 commercial resources within the Transaction Development teams will have dua= l=20 responsibilities to both their Transaction Development teams and to the=20 Capital Structuring Group. The remaining four groups within CTG will remai= n=20 largely unchanged. In addition, the Origination and the Transaction=20 Development teams and their respective origination groups will be located= =20 together. We believe that these changes will significantly enhance our market coverag= e=20 and industry knowledge in all ENA=01,s markets particularly in the industri= al=20 markets. It will also provide a closer partnership and accountability betwe= en=20 the Coverage/Origination Groups and the CTG Groups.=20 Please help us in continuing to build on the success we have enjoyed in Nor= th=20 America by working with us to implement these changes.
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