Cleco Corp. : Cleco announces executive leadership changes
PINEVILLE, La., July 31, 2013 - Cleco Corporation (NYSE: CNL) today announced
changes to its executive management team and the management team of Cleco
Power LLC, its regulated utility subsidiary.
Darren J. Olagues, who is currently Cleco Corporation's senior vice president
and chief financial officer, will become president of Cleco Power LLC.
Thomas R. Miller, who is currently vice president and treasurer, will become
senior vice president and chief financial officer of Cleco Corporation.
Charles A. Mannix, who is currently general manager of tax and strategic
planning, will become vice president of tax and treasurer. Mannix will report
"For the past two years, our strategy has been to focus our attention on our
core business functions to spur growth through our regulated utility
business," said Bruce A. Williamson, president and CEO of Cleco Corporation.
"These executive changes will strengthen the management structure we put into
place in February 2012. Darren will bring leadership and a strong financial
understanding of our industry to support our team approach as we identify and
capture business opportunities for Cleco Power. Tom and Chuck will use their
experience and skills to further develop Cleco Corporation's efforts to
advance our strategy."
Olagues, 42, has held the position of senior vice president and chief
financial officer of Cleco Corporation since May 7, 2009, including serving as
treasurer from November 2011 to July 2012. Prior to becoming chief financial
officer, Olagues served as senior vice president of Cleco Midstream Resources
LLC, Cleco's competitive wholesale generation business, from July 2007 through
Miller, 53, joined Cleco in July 2012 as vice president and treasurer of Cleco
Corporation. Prior to joining Cleco, Miller served as senior vice president
and treasurer of Solar Trust of America LLC from November 2010 until July 2012
and vice president, treasury of Exelon Corporation from June 2002 until August
2010. Miller also has previous experience with Conoco Inc. and Florida Power
& Light Company.
Mannix, 54, has been with Cleco since 2008 and has served in various financial
capacities, including strategy, tax and treasury. Before coming to Cleco,
Mannix served as manager of income tax and treasurer of Energy Risk Assurance
Company, a subsidiary of Ameren Corporation, from 2004 until 2007.
These changes will be effective Aug.3, 2013.
Cleco Corporation is a regional energy company headquartered in Pineville, La.
Cleco owns a regulated electric utility company, Cleco Power LLC, which owns
nine generating units with a total nameplate capacity of 2,565 megawatts and
serves approximately 283,000 customers in Louisiana through its retail
business and 10 communities across Louisiana and Mississippi through wholesale
power contracts. Cleco also owns a wholesale energy business, Cleco Midstream
Resources LLC, which owns two natural gas-fired generating units with a total
nameplate capacity of 775 megawatts. For more information about Cleco, visit
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Source: Cleco Corp. via Thomson Reuters ONE
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