Cleco Corp. Announces New Director Elected to Board
PINEVILLE, LA -- (MARKET WIRE) -- 07/01/09 -- Cleco Corp. (NYSE:
CNL) announced today the election of Peter Scott to its board of
directors effective July 1, 2009. Scott, who is 59, is the retired
executive vice president and chief financial officer of Progress
Energy, Inc. (NYSE: PGN) based in Raleigh, N.C. He also retired as
president and chief executive officer of Progress Energy Service
Company effective Sept. 1, 2008.
Prior to joining Progress Energy in 2000, Scott was president of
Scott, Madden & Associates, Inc., a management consulting firm.
"Peter's finance, audit and corporate governance experience from his
years at Progress Energy will benefit our board as we complete the
construction of our Rodemacher Unit 3 project, maximize cash flow and
earnings from our Cleco Midstream Resources subsidiary, and implement
our growth strategy," Cleco President and CEO Mike Madison said.
"We're very pleased Peter is joining our board."
Scott earned his bachelor's and master's degrees in business
administration from the University of North Carolina at Chapel Hill.
Among his industry, professional and civic experiences are
memberships on the boards of Research Triangle Institute
International headquartered in Research Triangle Park, N.C.;
Kenan-Flagler Business School for the University of North Carolina at
Chapel Hill and St. Mary's School in Raleigh, N.C.
Scott will be a Class II director whose term of office will expire at
Cleco's 2011 annual meeting of shareholders.
Cleco Corp. is a regional energy company headquartered in Pineville,
La. It operates a regulated electric utility company that serves
276,000 customers across Louisiana. Cleco also operates a wholesale
energy business with approximately 1,350 megawatts of name plate
generating capacity. For more information about Cleco, visit
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Rodney J. Hamilton
2030 Donahue Ferry Road
PO Box 5000
Pineville, LA 71361-5000
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