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Spokane, Wash.: Avista Corp. (NYSE: AVA) today announced changes in it executive leadership. Scott Morris, president and chief operating officer announced that Ronald R. Peterson, vice president of Avista Corp. and vice president of energy resources and optimization for Avista Utilities, will retire from the corporation effective Aug.1, 2007. Dennis Vermillion, president and chief operating officer for Avista Energy, has been named vice president of energy resources and optimization for Avista Utilities effective upon the closing of the recent sale of assets and contracts at Avista Energy, in late second quarter or early third quarter 2007.
“Ron has been an important part of many aspects of our company’s financial and operational growth for over 30 years. In particular, his leadership following the challenges of the energy crisis of 2000-2001 helped guide the corporation and the utility in regaining its financial strength and enhancing the generation and delivery of reliable energy services to our customers,” said Morris.
“We are looking forward to bringing Dennis and his expertise into the utility,” Morris said. “He brings a depth of experience in strategic energy operations and marketing that will add great value to Avista and our customers.”
Peterson, 54, joined the company in 1975 as a staff accountant. He supervised accounting functions, as well as customer service, until he was elected treasurer for the corporation in 1992. Peterson was elected vice president of Avista Corp. in 1998 and additionally named as vice president for finance for Avista Utilities in 2001. He has held his current position since 2003. Peterson is a graduate of Washington State University.
Dennis Vermillion, 45, joined Avista in 1985 and has held numerous positions in the areas of energy trading, marketing, and risk management, as well as power transmission contracting, resource planning and coordination, and regulatory issues. In 2001 he was named president and chief operating officer of Avista Energy, a subsidiary of Avista Corp. Vermillion is a Washington State University graduate.
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 a company operating division that provides service to 346,000 electric and 306,000 natural gas customers in three western states. Avista’s non-regulated subsidiaries include Advantage IQ and Avista Energy. Avista Corp.’s stock is traded under the ticker symbol “AVA.” For more information about Avista, please visit www.avistacorp.com.
Avista Corp. and the Avista Corp. logo are trademarks of Avista Corporation.
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