EDISON, N.J., April 24 /PRNewswire/ -- KCS Energy, Inc. (NYSE: KCS) today
announced the appointment of Paul S. Samett, 43, as Senior Vice President and
Chief Financial Officer, effective April 27, 1998. Mr. Samett will report to
KCS President and Chief Executive Officer James W. Christmas.
Commenting on the appointment, Mr. Christmas said, "We are pleased to
welcome Mr. Samett to our management team. His depth of experience in the
financial management of companies during periods of growth will be a great
asset to KCS. He will be responsible for financial management and information
systems, as well as the Company's strategic planning."
Mr. Samett has 20 years' experience in finance and operations, most
recently as Senior Vice President, Chief Financial Officer, Treasurer and
Director of Tokai Financial Services, Inc., a $1.3 billion vendor leasing and
finance subsidiary of The Tokai Bank, Ltd., the 13th largest bank in the
world. At Tokai, he financed 18% annual growth, initiated the company's first
securitization program, developed tax strategies with projected annual savings
of $2 million, implemented the organization's first formal business planning
process and negotiated an international strategic alliance with a Canadian
leasing company. He was also responsible for management information systems.
Prior to Tokai, Mr. Samett was at US West Capital Corporation as
Controller of the holding company as well as Vice President or Treasurer of
various subsidiaries, responsible for financial management and information
systems. While there, he conducted due diligence reviews of acquisition
candidates totaling $3 billion, as well as numerous project financings.
Earlier in his career, Mr. Samett spent 13 years with Arthur Andersen & Co.
As Senior Manager of the Business Advisory and Corporate Finance Consulting
Services Divisions, he advised clients on the financial implications of
mergers, acquisitions and other financings. Mr. Samett holds a Bachelor of
Science degree in Accounting from the State University of New York at Buffalo
School of Management and is a Certified Public Accountant.
KCS is an independent energy company engaged in the acquisition,
exploration, development and production of natural gas and crude oil with
operations in the Rocky Mountains, Mid-Continent and Gulf Coast regions. The
Company also owns oil and gas property interests in the Gulf of Mexico and
Michigan's Niagaran Reef trend. For more information on KCS Energy, Inc.,
please visit the Company's web site at http://www.kcsenergy.com.
SOURCE KCS Energy, Inc.
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Related links:
http://www.kcsenergy.com
CONTACT:
James W. Christmas, President and Chief
Executive Officer of KCS Energy, Inc., 732-632-1770; Marianne
Stewart, General Info., 212-661-8030, Beth Lewis, Analyst Info.,
617-342-7003, or Claudine Cornelis, Media Info., 212-661-8030
NOTE TO EDITORS: To receive KCS' latest news and other corporate
developments via fax at no cost, please call 1-800-PRO-INFO. Use
company code KCS
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