LAS VEGAS, May 10 /PRNewswire-FirstCall/ -- Sierra Pacific Resources
(NYSE: SRP) today announced that William D. Rogers has been elected corporate
treasurer and will join the company, effective June 8, 2005.
Rogers, 44, a Wall Street veteran who has been serving as managing
director of debt capital markets for Merrill Lynch & Co. in New York since
2000, will be headquartered in Las Vegas, reporting to Michael Yackira, Sierra
Pacific's executive vice president and chief financial officer.
"Bill Rogers brings a wealth of experience involving the financial markets
and the energy business," Yackira said. "This, along with his leadership
qualities, will bring immediate value to our company. After returning to
profitability and strengthening our financial position during 2004, our next
financial goal is to achieve investment grade status for our utilities and
Bill will play a major role in that activity."
Rogers' principal responsibilities as head of treasury operations will be
to optimize the company's capital structure and oversee all banking and credit
relationships. Also reporting to him will be the financial planning and
analysis and asset management functions.
Rogers was with JP Morgan Chase in New York from 1992 until 2000, serving
as managing director of debt capital markets before joining Merrill Lynch.
From 1989 to 1992, he was with Chase Securities in New York as an associate in
merchant banking.
Rogers, who is a chartered financial analyst, holds an M.B.A. from the
Fuqua School of Business at Duke University and a B.S. in engineering from the
U.S. Military Academy at West Point, N.Y. From 1982 until 1987, he served on
active duty with the U.S. Army Corps of Engineers in the United States and
abroad.
Sierra Pacific Resources is a holding company whose principal subsidiaries
are Nevada Power Company, the electric utility for most of southern Nevada,
and Sierra Pacific Power Company, the electric utility for most of northern
Nevada and the Lake Tahoe area of California. Sierra Pacific Power Company
also distributes natural gas in the Reno-Sparks area of northern Nevada.
Other subsidiaries include the Tuscarora Gas Pipeline Company, which owns a
50 percent interest in an interstate natural gas transmission partnership.
SOURCE Sierra Pacific Resources
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Related links:
http://www.sierrapacific.com
CONTACT:
Media, Andrea Smith, +1-702-367-5843,
Analyst, Britta Carlson, +1-702-367-5624, both of Sierra Pacific
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