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Enron Mail |
Nicki,
Can you believe that we will be working together again soon? Chris, Claire= =20 and Michael were up last week for lunch and we all came by to see you but o= f=20 course you hadn't moved yet. It will be fun. On the memo, I am fine with it and like the changes Mark put on the drafts.= =20 I do have 1 issue to talk to him about and that is the emissions piece whic= h=20 now appears to have separated from the coal group. I will talk to him abou= t=20 it and see why that has changed but other than that business call, it is=20 fine. I was just with Skilling and I think he is ready for it when you get= =20 everyone's comments. Mike Nicki Daw@ENRON 07/28/2000 11:41 AM To: Greg Whalley/HOU/ECT@ECT, Jeffrey McMahon/HOU/ECT@ECT, David W=20 Delainey/HOU/ECT@ECT, Mike McConnell/HOU/ECT@ECT, John J=20 Lavorato/Corp/Enron@Enron cc: Liz M Taylor/HOU/ECT@ECT, Sue Ford/HOU/ECT@ECT, Kay Chapman/HOU/ECT@ECT= ,=20 Cathy Phillips/HOU/ECT@ECT, Kimberly Hillis/HOU/ECT@ect, Lauren=20 Urquhart/LON/ECT@ECT, Barbara Lewis/HOU/ECT@ECT=20 Subject: DRAFT Announcement for review Can you please review the following announcement regarding Enron Global=20 Markets and pass back any comments? Thanks Nicki ___________________________________ As evidenced by an exceptionally strong performance in the second quarter,= =20 Enron=01,s wholesale energy businesses in North America and Europe continue= to=20 experience tremendous growth. The opportunities to continue to grow our=20 natural gas and power businesses have never been better and it is critical = to=20 Enron=01,s future success that we remain focused on expanding these busines= ses=20 and maintaining the strong momentum we have in these markets. It is equally important that we continue to develop new businesses outside = of=20 gas and electricity, which can make significant contributions to our earnin= gs=20 growth. We have made significant progress in developing these businesses i= n=20 North America, Europe, and most recently in our new Net Works business unit= . =20 Included in these developing businesses are our efforts in crude and=20 products, coal, emissions, insurance, currency, equity trading, interest=20 rates, paper and pulp, and metals. While significant progress has been made in these efforts we need to=20 accelerate the growth in these new businesses while continuing to=20 aggressively expand our core gas and electricity businesses in North Americ= a=20 and Europe. In order to accomplish these two objectives and to capitalize = on=20 the increasingly global opportunities in these new businesses we are today= =20 announcing the formation of a new business unit =01) Enron Global Markets. = This=20 new business unit will focus on markets and commodities which are global in= =20 scope, but outside our traditional gas and power markets. This new core=20 business unit will operate in parallel with and in close coordination with= =20 the North American and European businesses. Enron Global Markets will be headed by Mike McConnell, President and Chief= =20 Executive Officer, and Jeff Shankman, Chief Operating Officer. They will= =20 report to Mark Frevert who will be Chairman of Enron Global Markets, in=20 addition to retaining his current responsibilities as Chairman and CEO of= =20 Enron North America and Chairman of Enron Europe. Mark, Mike and Jeff will= =20 comprise the Office of the Chairman for Enron Global Markets. Included in this new business unit and reporting to the Office of the=20 Chairman will be the following businesses and their leaders: - Global Crude and Products: John Nowlan - Coal: George McClellan - Currency, equities, interest rate and agricultural trading: Gary Hickers= on - Insurance and weather: Jere Overdyke Enron=01,s metals business will remain the responsibility of Enron Europe a= nd=20 the Paper and Pulp business will continue to reside in North America. =20 Emissions trading is still primarily a North American activity and will=20 report into John Lavorato. With the departure of Mike McConnell from Enron Net Works, we are pleased t= o=20 announce the following appointments in that business unit: - Jeff McMahon: President and Chief Operating Officer - Louise Kitchen: Chief Commercial Officer - Philippe Bibi: Chief Technology Officer Jeff, Louise and Philippe and Greg Whalley will comprise the Office of the= =20 Chairman for Enron Net Works. With Jeff Shankman=01,s departure from Enron North America=01,s natural gas= =20 operation, all of Jeff=01,s direct reports will report to John Lavorato.
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