Dynegy Inc. (ticker: DYN, exchange: New York Stock Exchange (.N))
News Release -
Dynegy Names New Director; Rebecca B. Roberts Replaces Raymond I. Wilcox as Chevron Representative on Board Of Directors
HOUSTON, Mar 08, 2006 (BUSINESS WIRE) -- Dynegy Inc. (NYSE:DYN) today announced that Rebecca B. Roberts has been appointed to the company's Board of Directors effective immediately.
Roberts, 53, has served as President, Chevron Global Power Generation, since October 2003. In this position, she is responsible for managing Chevron's existing portfolio of power plants in the United States, Asia and the Middle East. Previously, she was Vice President, Worldwide Power and Gasification. Roberts joined Chevron in 1974.
"We welcome Rebecca to our Board of Directors and look forward to her contributions and guidance as we focus on the growth of our power generation business," said Bruce A. Williamson, Chairman and Chief Executive Officer of Dynegy Inc.
Roberts replaces Raymond I. Wilcox as the second Chevron representative on Dynegy's Board of Directors. A Dynegy Director since 2003, Wilcox is currently President of Chevron North America Exploration and Production Co. Chevron announced in February 2006 that he is retiring effective March 31, 2006 to become President and Chief Executive Officer of Chevron Phillips Chemical Company LLC.
"We thank Ray for his strong leadership and wish him continued success in his new role at Chevron Phillips Chemical Company," Williamson added.
Dynegy Inc. produces and sells electric energy, capacity and ancillary services in key U.S. markets. The company's power generation portfolio consists of more than 12,600 megawatts of baseload, intermediate and peaking power plants fueled by a mix of coal, fuel oil and natural gas.
Certain statements included in this news release are intended as "forward-looking statements." These statements include assumptions, expectations, predictions, intentions or beliefs about future events, particularly the statements concerning the growth of our Power Generation business. Dynegy cautions that actual future results may vary materially from those expressed or implied in any forward-looking statements. Some of the key factors that could cause actual results to vary materially from those targeted, expected or implied include changes in commodity prices, particularly for power and natural gas; the availability, ability to consummate, and effects of commercial and strategic growth opportunities for Dynegy's Power Generation business; and Dynegy's ability to access the capital markets as and when needed. More information about the risks and uncertainties relating to these forward-looking statements are found in Dynegy's SEC filings, including its Annual Report on Form 10-K for the year ended Dec. 31, 2004, its Quarterly Report on Form 10-Q for the quarter ended September 30, 2005 and its Current Reports, which are available free of charge on the SEC's web site at http://www.sec.gov. Dynegy expressly disclaims any obligation to update any forward-looking statements contained in this news release to reflect events or circumstances that may arise after the date of this release, except as otherwise required by applicable law. DYNC
SOURCE: Dynegy Inc.
Dynegy Inc., Houston
Media: David Byford, 713-767-5800
Analysts: Hillarie Bloxom, 713-507-6466
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