Calpine Names New Leaders for Commercial Development, Finance and Treasury
Todd Thornton has been named Vice President of Commercial Development, a new position created to drive Calpine's greenfield and brownfield development efforts. Mr. Thornton will report to President and Chief Operating Officer Thad Hill. Mr. Thornton joined Calpine in October 2000 as a Financial Analyst and has held increasingly responsible positions within the Finance department, including being named Vice President of Finance in 2007 and Treasurer in 2009. He was instrumental in guiding the Company through transformation of its capital structure. He earned a Bachelor of Science degree in Finance from Northern Illinois University.
Stacey Peterson has been named to replace Mr. Thornton as Vice President of Finance and Treasurer and will report to Executive Vice President and Chief Financial Officer Zamir Rauf. Ms. Peterson will be responsible for capital markets and financing activities, including debt compliance, and Treasury operations. Ms. Peterson previously served as Vice President of Trading in Commercial Operations. She joined Calpine in 2007 as part of the restructuring team, focused on the ERCOT region. She was named Director of Finance in 2009 and Vice President of Trading in 2011 and has played key roles on a variety of commercial projects and transactions. Prior to Calpine, Ms. Peterson worked for BP, where she was involved in upstream and midstream capital structuring and analysis. She earned a Bachelor of Science in Finance from the Kelley School of Business at Indiana University.
"Todd and Stacey exemplify the deep bench of talented leaders at Calpine and our commitment to developing and growing the careers of our employees," said Mr. Hill. "In Todd's new role, he will help us realign and strengthen our development efforts to take advantage of fiscally responsible growth opportunities in our key markets."
"Stacey's experience and outstanding performance in our Finance and Commercial Operations groups will provide valuable insight as she assumes this leadership role," said Mr. Rauf.
Calpine Corporation generates more electricity than any other independent power producer in America, with a fleet of 92 power plants in operation or under construction, representing more than 27,000 megawatts of generation capacity. Serving customers in 20 states and Canada, we specialize in developing, constructing, owning and operating natural gas-fired and renewable geothermal power plants that use advanced technologies to generate power in a low-carbon and environmentally responsible manner. Our clean, efficient, modern and flexible fleet is uniquely positioned to benefit from the secular trends affecting our industry, including the abundant and affordable supply of clean natural gas, stricter environmental regulation, aging power generation infrastructure and the increasing need for dispatchable power plants to successfully integrate intermittent renewables into the grid. We focus on wholesale competitive power markets and advocate for market-driven solutions that result in nondiscriminatory forward price signals for investors. Please visit www.calpine.com to learn more about why Calpine is a generation ahead - today.
In addition to historical information, this release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as "believe," "intend," "expect," "anticipate," "plan," "may," "will" and similar expressions identify forward-looking statements. Such statements include, among others, those concerning expected financial performance and strategic and operational plans, as well as assumptions, expectations, predictions, intentions or beliefs about future events. You are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause actual results to differ materially from those anticipated in the forward-looking statements. Please see the risks identified in this release or in Calpine's reports and registration statements filed with the Securities and Exchange Commission, including, without limitation, the risk factors identified in its Annual Report on Form 10-K for the year ended Dec. 31, 2011. These filings are available by visiting the Securities and Exchange Commission's website at www.sec.gov or Calpine's website at www.calpine.com. Actual results or developments may differ materially from the expectations expressed or implied in the forward-looking statements, and Calpine undertakes no obligation to update any such statements.
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