Ep Electric Ceo Retires From His Improbable Job Interview
- Ep electric ceo retires from his improbable job interview
- Ep electric ceo retires from his improbable job interview 2020
- Ep electric ceo retires from his improbable job interview questions and answers
"We ended up paying El Paso Electric a break-up fee ($25 million). " Central and South West was acquired by American Electric Power in 2000 in a multi-billion-dollar deal that took about two years to complete. Shockley and his wife moved to Columbus, Ohio, where he was AEP's chief operating officer for three years before retiring in 2004. Shockley said El Paso Electric may be courted by larger utility companies in the future. The board's position has been that the company's current rate cases in Texas and New Mexico make it "virtually impossible for anyone to accurately value the company, " he said. "After this all settles, that response might be completely different. " "We know people that are interested and would love to see us to be part of their system or whatever. We don't know if that's what's going to be good for our shareholders or even our customers, but our board has a fidicuiary responsiblity to look after the shareholders, " Shockley said. "Any issue like that would be evaluated very carefully to make sure all the stakeholders are represented and served well. "
Ep electric ceo retires from his improbable job interview
"Tom's done a fantastic job. He's done exactly what the board asked him to do. He improved the electric company's relationship with the community, " and City Hall, Yamarone said. "And he used his years of experience to mentor (company) executives, " including Mary Kipp, who the board tapped a year ago to be El Paso Electric president and CEO successor to Shockley. Kipp called Shockley an "intelligent, caring, and ethical CEO" who fostered collaboration within the company and strong relationships in the community, which, she said in an email, should have "lasting, positive impacts" for the company. City Rep. Cortney Niland said Shockley did a good job of of keeping the city and other government jurisdictions abreast of what was going on with the company. "My experience with him has been extremely pleasant and productive. I'm sorry that the relationship is ending on a sour note" with the company and City Council unable to settle the utility's pending rate-increase request, she said. The rate case late last week appeared to be headed toward a lengthy hearing process at the Public Utility Commission of Texas.
That involvement came even as Shockley commuted most weekends to his home in Georgetown, and later to Dallas, where he and his wife now live. He lived in a rented West Side condo during the week. He's universally liked" inside and outside the company, Hedrick said. "He's done a lot for morale throughout the company's ranks. " Yamarone said Shockley has a folksy manner that features a lot of self-deprecating humor. "What you see is what you get with Tom, " Yamarone said. "He's a very straightforward person. " Hedrick said Shockley is a "really smart guy" who disarms people with his laid-back, "country boy" manner, which, he said, makes him a good leader, and a good negotiator. Shockley was one of the negotiators when Central and South West tried to add El Paso Electric as the fifth electric utility in its portfolio in the early 1990s when El Paso Electric was in bankruptcy reorganization. "It fell through because we felt like the regulatory approvals put into place in that time was not what we did our evaluation of, and it was not going to be as attractive an acquisition as we planned on, " Shockley said.
Tom Shockley got to know El Paso Electric in the early 1990s when he was part of a Dallas company's unsuccessful attempt to buy the utility out of bankruptcy. During those lengthy negotiations, he never imagined that one day he'd be the company's chief executive officer, he said last week. That possibility became even more unlikely in 2004, when he retired to a Georgetown, Texas golfing community with his wife after a 35-year career in the electric power industry, most of it spent in Dallas. This week, Shockley's improbable job comes to an end. He retires for the second time Tuesday -- this time as El Paso Electric's 18th CEO, a job he held almost four years. He said El Paso Electric could become an acquisition target in the future. The utility has about 1, 100 employees, and more than 400, 000 customers in two states. It had revenues of $917. 5 million last year, and a 2014 profit of $91. 4 million. Its stock was selling late last week at more than $36 per share. Shockley, who has two degrees in electrical engineering, began his career in 1970 as an engineer at Central Power and Light in his hometown of Corpus Christi, he said.
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Ep electric ceo retires from his improbable job interview 2020
Even though he hasn't played golf in several years, he has no plans to sell them. "It's kind of like keeping your slide rule when you're an engineer, you don't ever want to sell it, you might need it. " Vic Kolenc may be reached at; 546-6421; @vickolenc on Twitter. El Paso Electric CEOs since 1925, when the company took its present name: •Tom Walker, February 1925 to April 1927. •Joseph Bowes, April 1927 to November 1928. •Frank Gannon, November 1928 to April 1931. •Montelle Smith, April 1931 to June 1936. •Roy Nelson, June 1936 to July 1947. •Erwin Will, March 1942 to July 1947. •E. Carter Womack, July 1947 to July 1956. •William Holik, July 1956 to July 1963. Ray Lockhart, July 1963 to October 1971. •Dennis Lane, October 1971 to May 1975. •Evern Wall, May 1975 to February 1989. •David Wiggs Jr., March 1989 to April 1996. •Jim Haines, May 1996 to November 2001. •Gary Hedrick, November 2001 to May 2007. •Ershel Redd Jr., May 2007 to February 2008. •J. Frank Bates, interim, February 2008 to November 2008.
He became CEO of that utility in 1987. When he retired the first time in 2004, he was chief operating officer and board vice chairman for American Electric Power, one of the largest electric utility companies in the nation. Shockley's road to El Paso Electric's top job began in 2010, when he received, what he said, was a surprising call from an El Paso Electric board member asking if he'd be interested in serving on the company's board of directors. He was elected to the board in May 2010. "I was glad to have a chance to get back in the industry and see what was happening in the electric utility business, " Shockley said last week during an interview in a 16th-floor conference room near his corner office at the company's Downtown headquarters. In January 2012, the board tapped Shockley as interim CEO after David Stevens suddenly resigned as CEO amidst the company's rancorous battle with City Hall over its rates and profits. The company's image also was badly tarnished from electric system failures during a historic deep freeze in February 2011.
Pfizer has applied for emergency approval from the US Food and Drug Administration (FDA), but the agency has been more reluctant to pass the immunization, with a top infectious disease expert, Anthony Fauci, saying his UK counterparts "really rushed through that approval" while praising the FDA's "very careful" authorization process. While the two pharma firms stand by the effectiveness of their vaccine, an inability to halt transmission from virus carriers could mean the inoculation falls short of the lofty expectations voiced by some officials in the US and UK. 'The day UK led humanity's charge against Covid': Tory MP Sharma mocked for over-the-top cheer as London approves foreign vaccine Think your friends would be interested? Share this story!
Ep electric ceo retires from his improbable job interview questions and answers
The company is in good shape, he said. "I think the company is very well situated, not only from having the right people in the right places, but we're down the road with regard to the major construction projects. We have the opportunity to execute on the rate cases (in Texas and New Mexico), and really provide outstanding service to the customers. " Shockley will remain on the company's board at least through May, when his current term expires. He's interested in staying on longer, he said -- possibly until he reaches the board's mandatory retirement age of 72. Shockley's readying his new camera for a trip he and his wife, Dorothy, plan to take to Africa in March. They plan to celebrate their 50th wedding anniversary in June by taking a Caribbean cruise with their two grown children. They also have three grandchildren. He has no immediate plans to dust off his four sets of golf clubs that are stored at his Dallas home. "I had thought if you don't play good golf, you need to buy different clubs, " he explained.
Former El Paso Electric CEO Gary Hedrick said the company never had a more qualified CEO. Shockley was a top executive for other utilities that were huge in comparison to El Paso Electric, said Hedrick, now a professor at the University of Texas at El Paso. Hedrick's first encounter with Shockley was when Hedrick was regulatory liaison between El Paso Electric and Central and South West Corp., where Shockley was an executive vice president and a key member of the Dallas company's team negotiating to buy the El Paso utility. Hedrick, who worked at El Paso Electric 32 years, said he and Shockley have met periodically since he became CEO. "His biggest accomplishment is putting a great (executive) team together, " including his successor, Hedrick said. "He solved the prior rate debacle (in 2012) that was going on when he came on board, " guided the company through an extensive power generation construction program, and got involved in the community as his predecessor did not, Hedrick said.
The top executive at pharma giant Pfizer said it still isn't clear if those who receive the company's vaccine will be able transmit the coronavirus to others, just one day after the UK became the first to approve the inoculation. While Pfizer CEO Albert Bourla said he expects the vaccine rollout to be rapid after it gets the green light from US health officials, following in the steps of Britain, he noted that it remains to be seen whether recipients of the jab can still carry and pass the virus. "Even though I've had the protection, am I still able to transmit it to other people? " NBC's Lester Holt asked in an interview on Thursday night, prompting a startling response from Bourla: I think this is something that needs to be examined. We are not certain about that right now. Also on 'Superficial': Fauci slams UK over hasty Pfizer vaccine approval, says FDA doing it 'the correct way' Last month, Pfizer announced that its vaccine – developed alongside German firm BioNTech – had proven to be more than 90 percent effective in giving immunity to trial participants, getting the green light from UK health authorities on Wednesday to begin distribution for widespread use.
