It is my great pleasure to announce that the Board has accepted my=20
recommendation to appoint Jeff Skilling as chief executive officer, effecti=
at the time of their next board meeting on February 12, 2001. Jeff will al=
retain his duties as president and chief operating officer. I will continu=
as chairman of the Board and will remain at Enron, working with Jeff on the=
strategic direction of the company and our day-to-day global operations.
Jeff will assume the role at a time when the company is hitting on all=20
cylinders and is positioned for phenomenal growth. He is clearly ready for=
the job, and after 15 years as CEO of this great company, I=01,m ready for =
somewhat different role.
Our succession plan has been clear for some time. This has afforded Jeff a=
me the freedom to combine our strengths toward building a company that=20
continues to exceed everyone=01,s expectations, including our own. We look=
forward to furthering that relationship as Jeff expands his role.
There are no plans for any other changes in our management team nor broad=
shifts in strategy and direction.
Please join me in congratulating Jeff. I look forward to a great 2001.