Enron Mail

Subject:FW: Jeff Skilling is now CEO of Enron..
Date:Wed, 13 Dec 2000 12:29:00 -0800 (PST)

Jeff - Congratulations!

Will you be attending BillG's CEO Summit 2001 instead of Ken?

Best regards/Alan

Alan Mitchell
General Manager, Communication Network Solutions
Network Solutions Group
425-936-7329 (fax)

< WSJ.COM WRAP: Skilling To Become Enron's Next CEO
< 12/13/2000
< Dow Jones News Service
< (Copyright &copy; 2000, Dow Jones & Company, Inc.)
< A WSJ.com News Roundup
< HOUSTON -(Dow Jones)- Enron Corp. (ENE) on Wednesday named Jeffrey K.
< Skilling chief executive to replace Kenneth L. Lay, who said he will step
< down but continue to serve as chairman of the utility and
< telecommunications company.
< Skilling, 47 years old, will take on the new role on Feb. 12, the
< company's next scheduled board meeting, while remaining president and
< chief operating officer.
< "Jeff is a big part of Enron's success and is clearly ready to lead the
< company," Lay, 58, said in a written statement. Lay became chairman and
< chief executive in 1986.
< Lay also denied rumors that he was interested in becoming U.S. secretary
< of energy or Treasury secretary in George W. Bush's administration, should
< the Texas governor become the next president. Enron and Lay were big
< contributors to the Bush campaign.
< "I have no plans to go to Washington and no plans to leave Houston or
< Enron," he said. "I can say categorically that I won't be taking a job in
< a Bush cabinet."
< "I am particularly happy that Ken and I will continue running the company
< together and that he has put the rumors of his possible departure to
< Washington, D.C., to rest," Skilling said. "Ken and I have worked together
< since 1990, and we don't want to break up a team that has delivered
< superior returns to Enron's shareholders."
< Skilling is credited as generating substantial profits for Enron and being
< the brains behind the company's burgeoning commodities-trading business.
< That business was seeking to place the company at the top of markets
< ranging from electricity to wood pulp to natural gas.
< Enron, which began as a traditional gas-pipeline company 15 years ago, has
< transformed itself into the largest trader of gas and electricity in North
< America.
< Skilling joined Enron in 1990 after leading McKinsey & Co.'s energy and
< chemical consulting operations. He became Enron's president and operating
< chief in December 1996. He emerged as the heir apparent to Lay after
< Rebecca Mark resigned in August as chief executive of Azurix Corp. (AZX),
< Enron's troubled global water company. Deregulation of the water business
< and government privatizations of water systems, on which Azurix was
< counting, were slow to come, crimping growth opportunities and profit.