National Grid, NiMo name top executives for merged utility

CNY Business Journal (1996+), May 11, 2001

WESTBOROUGH, Mass. and SYRACUSE - In preparation for the planned merger of National Grid and Niagara Mohawk later this year, the companies have appointed 10 executives from the two organizations to senior management positions in the new organization.

According to Richard P. Sergel, president and chief executive officer of National Grid USA, and William E. Davis, chairman and chief executive officer of Niagara Mohawk Holdings, Inc., the appointments will be effective upon closing of the merger, which is stated for late this year. However, said Sergel and Davis, these senior managers will begin immediately to assert a leadership role in the continued planning and implementation of the merger of the two companies.

Sergel continues in his roles as president and CEO of National Grid USA and as executive director of National Grid Group. He will be based in Westborough, Mass.

Davis, chairman of Niagara Mohawk Holdings, Inc., will serve as chairman of National Grid USA and executive director of National Grid Group. He will be based in Syracuse.

Michael E. Jesanis continues as execuitive vice president of National Grid USA and chief operating officer, responsible for the electric and gas distribution groups in New York and New England, transmission, and operations shared services. He will be based in Westborough, Mass.

Reporting to Jesanis:

* William F. Edwards, senior vice president and chief financial officer of Niagara Mohawk Holdings, Inc., will become senior vice president of National Grid USA and president of Niagara Mohawk. He will be responsible for the New York electric and gas distribution businesses, and will be based in Syracuse.

* Darlene D. Kerr, president of Niagara Mohawk Power Corporation, will become senior vice president of National Grid USA and president of National Grid USA Service Company. Her responsibilities will include human resources, information systems, and property management, as well as Web and e-business. She will have offices in both Syracuse and Westborough.

* Michael J. Kelleher, vice president of financial planning of Niagara Mohawk Holdings, Inc., will become vice president of National Grid USA. His responsibilities will include new business ventures and mergers and acquisitions. He will be based in Westborough.

National Grid USA has four electricdistribution companies that serve more than 1.7 million customers in Massachusetts, Rhode Island, and New Hampshire, and a substantial transmission business.

When completed, the National Grid and Niagara Mohawk merger will create one of the largest electric utilities in the United States, with an electric customer base of 3.3 million in addition to 540,00 natural-gas customers. It will also create the most extensive electric-transmission network in the New York/New England region.