-- Charles C. Cook promoted to Executive Vice President,
Commercial and Market Analytics
-- Mario E. Alonso promoted to Vice President, Strategic Planning
and Corporate Business Development
-- Executive Management Team roles and responsibilities remain
focused on operating and commercializing well
HOUSTON--(BUSINESS WIRE)--Nov. 13, 2008--Dynegy Inc. (NYSE:DYN)
today announced that Charles C. Cook, Senior Vice President, Strategic
Planning, Corporate Business Development and Treasurer, has been
promoted to Executive Vice President, Commercial and Market Analytics.
In his new role, Cook, 44, will oversee all commercial functions
related to the company's power generation fleet. He will report
directly to Bruce A. Williamson, Chairman, President and Chief
Executive Officer of Dynegy Inc.
"Chuck has a proven track record in leading the treasury group,"
said Williamson. "Under his management, this group planned for
contingencies and completed the company's financings prior to the
deterioration of the U.S. capital markets. Because of this proactive
approach, Dynegy has one of the strongest, lowest-cost and most
flexible capital structures in the industry, and one that is equipped
to weather the current turmoil in the financial markets. Going
forward, as an Executive Management Team, we anticipate more success
and a continued focus on operating, commercializing and maximizing the
value and financial results of the company's power generation
Cook joined Dynegy predecessor Destec Energy, Inc. in 1991. His
promotion follows the resignation earlier this week of Jason A.
Hochberg, former Executive Vice President, Commercial and Market
Analytics, who left the company to pursue other interests. Williamson
added, "Jason has been instrumental in the successful integration of
the assets acquired from LS Power in 2007 and in his management of
Dynegy's commercial operations. We wish him the best in his future
The company also announced that Mario E. Alonso, Managing
Director, Strategic Planning and Corporate Business Development, has
been promoted to Vice President, Strategic Planning and Corporate
Business Development. Alonso, 37, joined Dynegy in 2001 and has held
positions of increasing responsibility, serving in the areas of
finance and mergers and acquisitions. Alonso will report directly to
Holli C. Nichols, Executive Vice President and Chief Financial
Treasury-related functions will continue to report to Nichols, who
will serve as Treasurer. Management changes will be effective on
December 1, 2008. All other Executive Management Team members will
continue to serve in their current roles reporting to Williamson.
Through its subsidiaries, Dynegy Inc. produces and sells electric
energy, capacity and ancillary services in key U.S. markets. The power
generation portfolio consists of more than 18,000 megawatts of
baseload, intermediate and peaking power plants fueled by a mix of
natural gas, coal and fuel oil. DYNC
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.
Dynegy cautions that actual future results may vary materially from
those expressed or implied in any forward-looking statements. 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 December
31, 2007, and its Quarterly Reports on Form 10-Q for the periods ended
March 31, 2008, June 30, 2008 and September 30, 2008, all of which are
available free of charge on the SEC's web site at http://www.sec.gov.
CONTACT: Dynegy Inc., Houston
Media: David Byford, 713-767-5800
Analysts: Nir Grossman, 713-507-6466
SOURCE: Dynegy Inc.