Chief Operating Officer Jeff Hart will lead the organization in daily matters through transition
SPOKANE, Wash., June 11 // -- Advantage IQ Chief Executive Officer Stu Stiles, age 48, has announced his plans to leave the company by the end of June to pursue personal goals. Stiles has served as CEO of Advantage IQ, a subsidiary of Avista Corp. (NYSE: AVA), since 2004.
"Advantage IQ is off to a good start for the year, and I am proud of the company's stability and continued growth even in a slow economy," Stiles said. "I'm also grateful for the time I've had to lead this organization of great people and deliver such valuable services to our clients. Looking ahead, I plan to pursue greater involvement in life-changing ministry work overseas."
Jeff Hart, in his current role as Advantage IQ chief operating officer, will lead the organization on daily matters through the transition, reporting to Avista Corp. Chairman, President and CEO Scott Morris.
"Excellent service has made Advantage IQ an industry leader," said Morris. "With our commitment to service, a strong leadership team and dedicated employees, this transition will be seamless to our clients. The Advantage IQ board will expedite the selection of a new CEO with the distinctive qualities to continue the company's strategic growth.
"Since taking over as CEO five years ago, Stu has significantly improved operations while more than doubling the company's annual revenue. We thank him for his leadership and service to the company and wish Stu all the best as he pursues his personal goals," Morris said.
Avista Corp. is an energy company involved in the production, transmission and distribution of energy as well as other energy-related businesses. Avista Utilities is our operating division that provides service to 355,000 electric and 315,000 natural gas customers in three Western states. Avista's primary, non-regulated subsidiary is Advantage IQ. Our stock is traded under the ticker symbol "AVA." For more information about Avista, please visit www.avistacorp.com.
Advantage IQ is a leading provider of comprehensive cost management services for utility, telecom, waste and lease expenses, including strategic energy management services. Its patented technology and services provide multi-site companies with critical, yet easy-to-access, information that enables companies to proactively manage and reduce expenses, as well as online access to consolidated cost and consumption data partnered with powerful analytical reporting tools. For more information about Advantage IQ, please visit www.advantageiq.com.
Avista Corp. and the Avista Corp. logo are trademarks of Avista Corporation.
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SOURCE: Avista Corp.
Web site: http://www.avistacorp.com/
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