SPOKANE, Wash., Aug. 18 // -- Avista Corp. (NYSE: AVA) today announced that Mark Thies will join the company as senior vice president and chief financial officer (CFO) in September 2008. Previously, the CFO position was held by Malyn Malquist, Avista Corp. executive vice president. Malquist will remain as executive vice president through the transition, and he will continue to play an active part in the senior executive team, particularly in the area of strategic subsidiary oversight.
"We are very pleased Mark has agreed to join Avista. He has a solid background in finance and the utility industry, and his leadership style is complementary to our company's culture," said Scott Morris, Avista Corp. chairman, president and chief executive officer. "As we've previously stated, Malyn has expressed his desire to retire at some point in the near future. Bringing Mark in now gives us the opportunity for an orderly and smooth transition in the CFO position."
Morris continued, "Malyn is an invaluable member of our senior leadership team. He can now focus his expertise on guiding subsidiary strategic plans and on assuring that the CFO transition goes smoothly."
Thies is an accomplished leader with extensive experience in finance, risk management, accounting and administration in the utility sector, primarily in the Midwest. Prior to joining Avista, he was executive vice president and chief financial officer for Black Hills Corporation, a diversified energy company, providing regulated electric and natural gas service to areas of South Dakota, Wyoming and Montana. Thies joined Black Hills Corporation in 1997. Previously, he was manager of accounting for InterCoast Energy Company in Des Moines, Iowa, and he was a senior auditor with Arthur Anderson & Co. in Chicago, Ill.
He holds Bachelor of Arts degrees in accounting and business administration from Saint Ambrose College in Davenport, Iowa, and he attained a Certificate in Public Accounting (CPA) in 1987.
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 351,000 electric and 310,000 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 http://www.avistacorp.com/.
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