Randy Jespersen to Retire; John Walker, FortisBC Inc. President and CEO, to Head Both Terasen and FortisBC

Randy Jespersen, President and CEO of Terasen Inc., a direct, wholly-owned subsidiary of Fortis Inc., announced his intention to retire effective June 30, 2010. Upon his planned retirement, John Walker, President and CEO of FortisBC Inc., will also become President and CEO of Terasen Inc.

Since joining Terasen in 1996, Randy has held various roles including his appointment as President of Terasen Gas Inc. in 2002. Under his leadership, Terasen has delivered value to customers and shareholders alike. He has led the company through major restructurings and project developments while achieving an excellent record of public and employee safety and high environmental standards. Randy will remain a Director of the Terasen Inc. Board, serving as Vice Chair, and will represent Terasen on the Advisory Board of the newly-formed Energy Policy Institute of Canada.

"Randy has played a significant role in Terasen's success and we thank him for his leadership, which has seen the company contribute greatly to the energy, environmental and economic framework of British Columbia and to Fortis Inc.'s considerable holdings in the province," says Stan Marshall, President and CEO, Fortis Inc., who is also Chair of the Terasen Inc. Board of Directors.

Effective July 1, John Walker will assume the position as President and CEO of Terasen Inc. in addition to remaining President and CEO of FortisBC Inc., a role he has held since 2005. John has more than 27 years with the Fortis group of companies since he began his career in utility operations with Newfoundland Power Inc. He has advised on the development of B.C. energy policy, having served as a member of the B.C. Climate Action Team, and he is currently on the Task Force Group on Resource Development under the Green Energy Advisory Task Force. He is a Director on numerous Boards including Terasen Inc., FortisBC Inc., Fortis Alberta Inc., the Canadian Electricity Association and the Sauder School of Business Faculty Advisory Board, University of British Columbia.

"With John as President and Chief Executive Officer of both our companies in British Columbia, we are assured a consistent focus and strategy in the delivery of energy to our customers," says Marshall. "The new leadership structure will not affect the day-to-day operations of Terasen and FortisBC and both companies will continue to operate under their current names."

"Our combined operations in British Columbia have assets of $6.4 billion and have planned $2 billion in capital expenditures over the next five years," explains Marshall.

All officers of FortisBC, Terasen and Terasen Gas will remain with the organization within a structure to best support the combined leadership.

"Together FortisBC and Terasen deliver more energy than any other B.C. utility. The leadership team will oversee operations that can uniquely offer customers a variety of integrated energy solutions to best meet their current and future energy needs including alternative energy, electricity, natural gas and propane," says John Walker.

Return to April 2010 Western Energy News

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