News Releases

Sierra Pacific Resources Names VP of Human Resources and Support Services

Jul 6, 2004

Sierra Pacific Resources
Contact: Andrea Smith
Phone: (702)-334-5683

For Immediate Release

Las Vegas -- Sierra Pacific Resources (NYSE:SRP) today announced that Stephen R. Wood will be joining the company as vice president of human resources and support services, effective July 19, 2004. Wood will be assuming many of the responsibilities of Victor Pena, senior vice president and chief administrative officer, who will be retiring in several months.


"Steve Wood brings to our company a broad wealth of experience, including 15 years in the energy business and more than 35 years in operational and administrative management that included human resources, information technology and other support functions,"said Walter Higgins, Sierra Pacific's chairman and chief executive officer."I have some mixed emotions, however, since Victor Pena has been a friend and colleague of mine for nearly 13 years and has made immeasurable contributions to our company,"Higgins added."At my request, Victor has agreed to stay on for several months to assist with the transition process and to help complete a number of projects related to human resources and other efficiencies in our operations."


Wood, 61, will be headquartered in Las Vegas, reporting directly to Higgins. His energy experience includes 11 years with LG&E Energy Corp. in Louisville, Kentucky, where he held a number of management positions, including president of Louisville Gas&Electric Company and president of Distribution Services for LG&E Energy Corp. During his tenure with LG&E, he was senior vice president of human resources and administration and executive vice president and chief administrative officer. For the past four years he has been co-founder and president of three private equity start-up companies in the Louisville area. Earlier in his career he held senior human resources positions with Memorex Telex Corporation, Hilti Western Hemisphere, and Ford Motor Company.


Wood is a Vietnam veteran and former Captain in the U.S. Marine Corps. He holds an MBA from the University of Detroit and a BS in Industrial Management from Purdue University. He and his wife Mona will be relocating to Las Vegas from the Louisville area.


Headquartered in Nevada, Sierra Pacific Resources is a holding company whose principal subsidiaries are Nevada Power Company, the electric utility for most of southern Nevada, and Sierra Pacific Power Company, the electric utility for most of northern Nevada and the Lake Tahoe area of California. Sierra Pacific Power Company also distributes natural gas in the Reno-Sparks area of northern Nevada. Other subsidiaries include the Tuscarora Gas Pipeline Company, which owns 50 percent interest in an interstate natural gas transmission partnership and several unregulated energy services companies.