News Releases

Sierra Pacific Aligns Organization to Match Evolving Energy Markets, Announces New Officer Assignments

Sep 12, 1996

Sierra Pacific Resources
Contact: Malyn Malquist
Phone: (775)834-5400

For Immediate Release

Sierra Pacific Resources (NYSE: SPR) and Sierra Pacific Power Co., its utility subsidiary, have realigned their organizational structure, Walter Higgins, chairman, president and chief executive officer, announced today."We're changing the structure of Sierra Pacific to align with the evolving electric and natural gas markets," Higgins said."These changes put the right team in place to carry out the company's strategic plan."

To focus attention on meeting the needs of customers while ensuring the delivery of superior levels of service and providing for an effective integration of all business activities, Sierra Pacific has realigned its organization into three separate business groups.

The three business groups are Distribution Services, Transmission Services and Energy Marketing. Their formation will enable the utility to offer its customers high quality products and services at competitive prices, and position itself to successfully meet the many challenges that will be arising from the rapidly changing utility industry.

Malyn Malquist, formerly chief financial officer, treasurer and senior vice president, has been appointed senior vice president of the new Distribution Services Business Group, which includes the utility's electric, natural gas and water distribution business in northern Nevada and northeastern California. Malquist will be responsible for distribution marketing, economic development and Sierra Pacific's new energy services company, and he will assume responsibility as the principal operations officer for Sierra Pacific Power Co.

Malquist will serve temporarily as the chief financial officer of the company until a replacement is named, Higgins said.

Randy Harris, formerly power operations director, was named to serve as general manager of the company's Transmission Services Business Group. The business group includes the utility's transmission business in Nevada and California, as well as the Tuscarora Gas Pipeline Company, which owns 50 percent interest in Tuscarora interstate natural gas pipeline transmission company.

Tom Parker, formerly Vice President of Energy Services, was named to serve as vice president of the company's Energy Marketing Business Group, consisting of the Electric Production and Fuel Business, Energy Sales, Marketing Planning and Research, and Power Management. Vice President Jerry Canning will continue to head the electric production and fuel business.