JUNO BEACH, Fla., July 5 /PRNewswire/ -- FPL Group, Inc. (NYSE: FPL) today
announced that Moray Dewhurst has been elected chief financial officer of the
$7 billion electricity-related services company. He will assume his new
position mid-July.
Mr. Dewhurst, age 46, previously served as a senior partner and director
of Dean & Company, a management consulting and investment firm that he co-
founded in 1993. While at Dean, he worked closely with FPL Group and its
businesses. Under contract with FPL Group and Entergy Corporation,
Mr. Dewhurst had the responsibility for leading the financial integration team
for the two companies prior to their merger being terminated in April. He
also has assisted FPL Group's independent power producer subsidiary, FPL
Energy, in assessing its operations and subsequently redesigning business
processes, as well as developing analytical tools and techniques to enhance
business operations and planning.
"We are fortunate to have Moray Dewhurst join the FPL Group team," said
Lew Hay, president and chief executive officer. "Moray has vast experience
working with Fortune 100 companies in developing and refining business
operations and strategies that have resulted in significant enhancements to
company performance and shareholder value."
Prior to forming Dean & Company, Mr. Dewhurst was a senior partner at
Mercer Management Consulting and predecessor management consulting companies.
He has extensive experience working with companies that have faced industry
deregulation issues such as the telecommunications sector. A substantial
portion of Mr. Dewhurst's practice has involved acquisitions and divestitures,
financial policy and structure issues and financial restructurings.
Mr. Dewhurst has a bachelor of science degree in naval architecture and
marine engineering from Massachusetts Institute of Technology and a masters in
business administration from the MIT Sloan School of Management. While at the
Sloan School, he was awarded the Henry Ford II Award for outstanding
scholastic achievement and co-authored papers on pension fund investment
policy with Fischer Black, an economist known for his work in co-developing
the Black-Scholes option-pricing formula.
FPL Group, with annual revenues of more than $7 billion, is one of the
nation's largest providers of electricity-related services. Its principal
subsidiary, Florida Power & Light Company, serves approximately 3.9 million
customer accounts in Florida. FPL Energy, LLC, an FPL Group energy-generating
subsidiary, is a leader in producing electricity from clean and renewable
fuels. Additional information is available on the Internet at
http://www.fplgroup.com, http://www.fpl.com and http://www.fplenergy.com.
SOURCE Florida Power & Light Company
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Related links:
http://www.fpl.com
http://www.fplgroup.com http://www.fplenergy.com
CONTACT:
Florida Power & Light Company Corporate
Communications Media Line, 305-552-3888
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