El Paso Corp. (ticker: EP, exchange: New York Stock Exchange (.N))
News Release -
25-Oct-1999
Richard Owen Baish to Retire From El Paso Natural Gas Effective Year-EndHouston, Texas, October 25, 1999-El Paso
Energy Corporation (NYSE:EPG) announced today that Richard Owen Baish, president
of El Paso Natural Gas Company, a business unit of El Paso Energy, will be
leaving the company effective December 31, 1999, following 27 years of
distinguished service.
Mr. Baish has had a long, successful career with El Paso Natural
Gas, according to William A. Wise, chairman, president, and chief executive
officer of El Paso Energy Corporation. "Rick Baish has led the company
successfully through some of the most tumultuous times in the history of the
industry," said Wise. "His major accomplishments as president include achieving
significant cost savings, overseeing an extensive restructuring of the company, and
guiding the highly successfully remarketing effort for turned-back capacity on the
El Paso Natural Gas system. Rick leaves the company at a high point in its history,
with exceptional opportunities arising to serve growing markets in California, the
southwestern United States, and northern Mexico. His leadership and commitment will be
missed."
Mr. Baish joined the company in 1973 as a staff attorney. In 1990, he
was named senior vice president and general counsel. In 1991, he moved to line management
as senior vice president for the company's marketing, gas supply, and rates and
regulatory affairs group. He was promoted to executive vice president in 1994 and assumed
additional responsibilities in the areas of operations and engineering, energy
development, and California government relations. In addition to these functions, he also
assumed responsibility for Mojave Pipeline Operating Company. On April 1, 1996,
he was named president of El Paso Natural Gas Company.
Upon leaving the company, Mr. Baish plans to spend more time with his
family, become more actively involved in the operation of his cattle ranch in southeastern
New Mexico, and pursue other new business ventures.
Patricia A. Shelton, currently vice president, Finance, has been
promoted and will assume the position of president of El Paso Natural Gas on
January 1, 2000.
With over $15 billion in assets, El Paso Energy Corporation provides
comprehensive energy solutions through its strategic business units: El Paso Natural
Gas Company, Tennessee Gas Pipeline Company, Southern Natural Gas Company, El Paso
Field Services Company, El Paso Merchant Energy Company, El Paso Production
Company, and El Paso Energy International Company. The company owns North America's
largest natural gas pipeline system, both in terms of throughput and miles of pipeline,
and has operations in natural gas transmission, gas gathering and processing, gas and oil
production, power generation, merchant energy services, and international project
development. Visit El Paso Energy's web site at www.epenergy.com.
This release includes forward-looking
statements and projections, made in reliance on the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. The company has made every reasonable effort to
ensure that the information and assumptions on which these statements and projections are
based are current, reasonable, and complete. However, a variety of factors could cause
actual results to differ materially from the projections, anticipated results or other
expectations expressed in this release. While the company makes these statements and
projections in good faith, neither the company nor its management can guarantee that the
anticipated future results will be achieved. Reference should be made to the company's
(and its affiliates') Securities and Exchange Commission filings for additional
important factors that may affect actual results. |