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4-Traders Homepage  >  Equities  >  Nyse  >  Pepco Holdings, Inc.    POM

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Pepco Holdings, Inc. : Frederick Boyle Named Chief Financial Officer for Pepco Holdings, Inc.

03/26/2012 | 05:30pm US/Eastern

New CFO Has Extensive Utility Background;
Tony Kamerick Named Executive Vice President and Chief Regulatory Officer

Pepco Holdings, Inc. (NYSE: POM), announced the appointment today of Frederick J. Boyle as the Company's Senior Vice President and Chief Financial Officer. Mr. Boyle has nearly three decades of experience in the utility industry, having led financial departments for three electric industry corporations over the past decade. Mr. Boyle was most recently Chief Financial Officer of DPL Inc., holding company for Dayton Power and Light (DPL), an Ohio-based company that was named to the Forbes Platinum 400 "Best Big Companies in America" list during his tenure in 2009. In his CFO role at DPL, Mr. Boyle was responsible for all finance, accounting, treasury, planning and development activities for DPL.

Mr. Boyle will take over the post from current PHI CFO, Anthony J. Kamerick, who announced he will retire after 41 years with the Company. While Mr. Boyle will assume the role of financial lead for PHI, Mr. Kamerick will remain at PHI as Executive Vice President and Chief Regulatory Officer, and continue to oversee the regulatory proceedings of all three of PHI's utility subsidiaries until his retirement in January 2013.

"We are pleased to welcome Fred to the executive leadership team as an experienced financial leader in the utility industry," said Joseph M. Rigby, Chairman, President and Chief Executive Officer of PHI. "His experience with both electric and natural gas energy combined with his financial acumen will make him an important addition to the team as we continue to serve our customers and deliver value to our shareholders. I am grateful for Tony Kamerick's excellent tenure as our CFO, and I am pleased to retain him through the remainder of 2012 to ensure a smooth transition, and provide oversight to our regulatory process."

Mr. Boyle's extensive energy industry background includes regulated and non-regulated segments of the electric business as well as experience in the gas utility industry, all of which are components of the PHI business model. Prior to serving as Chief Financial Officer of DPL Inc., Mr. Boyle served as CFO of Accent Energy, a natural gas and electricity retail marketer, and as Vice President of Finance for Direct Energy, a large competitive retailer of energy and related services in North America. For 18 years, Mr. Boyle worked in financial and accounting roles at American Electric Power (AEP), one of the world's largest energy companies, taking leadership roles in the areas of tax, corporate planning and budgeting, and corporate development with his most senior role as Vice President of Financial Services for the corporate development department. He began his career in accounting with Deloitte & Touche, and is a Certified Public Accountant.

Mr. Boyle holds a Master of Tax degree from The Capital University and a Bachelor of Science in Business Administration from The Ohio State University. He will officially take over as Chief Financial Officer of PHI on April 9th and report directly to Joseph M. Rigby, Chairman, President and Chief Executive Officer of PHI.

About PHI: Pepco Holdings, Inc. (NYSE: POM) is one of the largest energy delivery companies in the Mid-Atlantic region, serving about 2 million customers in Delaware, the District of Columbia, Maryland and New Jersey. PHI subsidiaries Pepco, Delmarva Power and Atlantic City Electric provide regulated electricity service; Delmarva Power also provides natural gas service. PHI also provides energy efficiency and renewable energy services through Pepco Energy Services.

Pepco Holdings, Inc.
Robert Hainey, 202-872-2680
Donna Kinzel, 302-429-3004

© Business Wire 2012
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