- Will retain role as Chairman of the Westinghouse Board of Directors
- Long-time Westinghouse Executive Aris Candris to be successor
- New Nuclear Fuel and Strategy Vice Presidents also selected
PITTSBURGH, March 3 /PRNewswire/ -- Westinghouse Electric Company
announced today its President and CEO Steve Tritch has elected to retire,
effective July 1, 2008. He will continue in his role as Chairman of the
Westinghouse Board of Directors.
The company also announced that Mr. Tritch would be succeeded by Aris
Candris, a 33-year Westinghouse veteran who is currently sr. vice president
of the Westinghouse Nuclear Fuel Business Unit.
Mr. Tritch, who joined Westinghouse in 1971 and became President and
CEO in 2002, presided over the company during a period of dramatic change
and growth. During his tenure, Westinghouse saw continual growth within all
of its business units: Nuclear Fuel, Nuclear Services, and Nuclear Power
Plants.
In July, 2007, Westinghouse signed multi-billion dollar contracts to
provide four new AP1000(TM) nuclear power plants to China, marking the
first time ever that a U.S. company was awarded new nuclear plant contracts
in that country. Additionally, the AP1000 over the last two years has been
identified as the technology of choice for no less than 12 of the new
nuclear power plants announced for the United States.
In announcing his retirement plans, Mr. Tritch told employees:
"My 37 years with this company have been extremely interesting and
fulfilling and I am pleased that Westinghouse is well positioned for a
bright and successful future. We are moving ahead in our efforts to
dramatically transform Westinghouse to create significant value for our
owners over the next 10 years. As the company prepares to enter this new
era, I believe it is an opportune time for me to pursue a new phase in my
life as well."
Mr. Tritch also said that Dr. Candris is ideally suited to lead
Westinghouse:
"Aris is the right leader for Westinghouse at this time of tremendous
growth and change. He has led both our Nuclear Services and, most recently,
Nuclear Fuel businesses. As our first senior vice president of operational
excellence in 2003, he spearheaded the Customer 1st initiative that has
dramatically changed the way we work and behave with our customers.
"I am confident that he will carry forward the positive momentum we
have built in improving our customer relationships and reshaping
Westinghouse into a more dynamic industry leader. I will be working with
Aris over the next few months as he transitions to his new role."
Also today, Westinghouse announced that Joe Belechak would succeed Dr.
Candris as sr. vice president of the Westinghouse Nuclear Fuel Business
Unit, and that Rick Etling would replace Mr. Belechak as vice president,
strategy. Mr. Etling is currently vice president, business planning and
strategy within the Westinghouse Nuclear Fuel Business Unit.
Westinghouse Electric Company, a Toshiba Group company, is the world's
pioneering nuclear power company and is a leading supplier of nuclear plant
products and technologies to utilities throughout the world. Today,
Westinghouse technology is the basis for approximately one-half of the
world's operating nuclear plants.
SOURCE Westinghouse Electric Company
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Related links:
http://www.westinghousenuclear.com
http://www.prnewswire.com/comp/127481.html /
CONTACT:
Vaughn Gilbert of Westinghouse Electric
Company, +1-412-374-3896, gilberhv@westinghouse.com
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