NOVI, Mich., Feb. 4, 2015 /PRNewswire/ -- ITC Holdings Corp.
(NYSE: ITC) today announced an internal reorganization and
executive changes to position the company for continued operational
excellence, growth and success. These changes build on the
strong foundation of operational excellence established by ITC for
its core operating companies and strong growth through its grid
development efforts.
"In recognition of the robust transmission development
landscape, this reorganization offers additional flexibility to
ensure we have dedicated resources available to take advantage of
development opportunities without detracting focus from our
core operating entities," said Joseph L.
Welch, chairman, president and CEO of ITC. "It also
leverages the bench strength of the company's leadership team as we
continue to chart a course for continued operational excellence,
growth and sustainability."
Effective immediately, and reporting to Joseph L. Welch, president, chairman and
CEO:
- In order to drive continued focus on the core operating
companies, Linda Blair, executive
vice president and chief business unit officer, will be responsible
for leading all aspects of the financial and operational
performance of ITC's four regulated operating companies.
Blair also will assume responsibility as the business unit
head and president of the ITCTransmission and METC operating
companies. Krista Tanner, president of ITC Midwest, will
continue to report to Blair. Brett Leopold has been appointed
president, ITC Great Plains. Gregory Ioanidis has been
appointed vice president of Business Unit Finance and Rates for the
four regulated operating companies and will continue to report to
Blair. Ioanidis was formerly president of ITC Michigan.
- In order to drive growth through the company's development
efforts, Daniel Oginsky has been
appointed executive vice president of U.S. Regulated Grid
Development. He will be responsible for leading the company's
growth and expansion through new investments in regulated electric
transmission infrastructure across the
United States. Oginsky previously served as the
company's executive vice president and general counsel.
Kristine Schmidt has been appointed
vice president, Regulated Grid Development and will now report to
Oginsky. She was formerly president of ITC Great Plains.
- As part of the company's efforts to diversify its development
portfolio, Terry Harvill has been
appointed vice president of International and Merchant
Development. In his new role, Harvill will focus on driving
the company's growth and expansion internationally and domestically
through merchant and other commercial development
opportunities.
- Jon Jipping remains executive
vice president and chief operating officer. Brian Slocum has
been named to the position of vice president of Operations, while
Tom Vitez will resume his position
as vice president of Planning. Joe Bennett has been appointed
vice president of Engineering. Slocum, Vitez, and Bennett
will report directly to Jipping.
- Given heightened attention on cyber security programs,
Ron Hinsley, vice president of
Information Technology and chief information officer, will report
to Welch while continuing in his current role and
capacity.
- Rejji Hayes remains senior vice president, chief financial
officer and treasurer. Gretchen Holloway has been newly
appointed vice president of Finance and will report to Hayes. Additionally, Fred Stibor, vice president and controller, will
continue to report to Hayes.
- Christine Mason Soneral is newly
appointed as ITC's vice president and general counsel. Wendy
McIntyre, vice president, secretary and general counsel of
Enterprise Operations, will report to Soneral. Additionally,
Simon Whitelocke has been appointed
vice president and chief compliance officer, reporting to
Soneral.
- Nina Plaushin has been appointed
vice president of Regulatory and Federal Affairs, and will assume
additional responsibility for the company's regulatory
function.
- Kevin Burke, vice president of
Human Resources and chief human resources officer, will assume
additional responsibility for the company's marketing and
communications function, as well as responsibility for corporate
facilities.
"I am pleased to have such an outstanding leadership team that
has consistently delivered and is poised for continued growth and
performance," commented Welch.
About ITC Holdings Corp.
ITC Holdings Corp. (NYSE:
ITC) is the nation's largest independent electric transmission
company. Based in Novi, Michigan,
ITC invests in the electric transmission grid to improve
reliability, expand access to markets, lower the overall cost of
delivered energy and allow new generating resources to interconnect
to its transmission systems. ITC's regulated operating subsidiaries
include ITCTransmission, Michigan Electric Transmission
Company, ITC Midwest and ITC Great Plains. Through these
subsidiaries, ITC owns and operates high-voltage transmission
facilities in Michigan,
Iowa, Minnesota, Illinois, Missouri, Kansas and Oklahoma, serving a combined peak load
exceeding 26,000 megawatts along 15,400 circuit miles of
transmission line. Through ITC Grid Development and its
subsidiaries, the company also focuses on expansion in areas where
significant transmission system improvements are needed. For more
information, please visit ITC's website at www.itc-holdings.com.
(ITC-itc-F)
Safe Harbor Statement
This press release contains
certain statements that describe our management's beliefs
concerning future business conditions, plans and prospects, growth
opportunities and the outlook for our business and the electricity
transmission industry based upon information currently available.
Such statements are "forward-looking" statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Wherever
possible, we have identified these forward-looking statements by
words such as "will," "may," "anticipates," "believes," "intends,"
"estimates," "expects," "projects" and similar phrases. These
forward-looking statements are based upon assumptions our
management believes are reasonable. Such forward looking statements
are subject to risks and uncertainties which could cause our actual
results, performance and achievements to differ materially from
those expressed in, or implied by, these statements, including,
among others, the risks and uncertainties disclosed in our annual
reports on Form 10-K, quarterly reports on Form 10-Q and other
filings made with the Securities and Exchange Commission.
Because our forward-looking statements are based on estimates
and assumptions that are subject to significant business, economic
and competitive uncertainties, many of which are beyond our control
or are subject to change, actual results could be materially
different and any or all of our forward-looking statements may turn
out to be wrong. Forward-looking statements speak only as of the
date made and can be affected by assumptions we might make or by
known or unknown risks and uncertainties. Many factors mentioned in
our discussion in this release and in our annual and quarterly
reports will be important in determining future results.
Consequently, we cannot assure you that our expectations or
forecasts expressed in such forward-looking statements will be
achieved. Except as required by law, we undertake no obligation to
publicly update any of our forward-looking or other statements,
whether as a result of new information, future events, or
otherwise.
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SOURCE ITC Holdings Corp.