Houston, December 2, 2011 — Dynegy Inc. announced that Thomas W. Elward, a current independent member of the Dynegy board of directors, will serve as the non-executive chairman of the board and that E. Hunter Harrison will resign as chairman of the board and director, effective as of December 16, 2011.
Dynegy Director, President and CEO Robert C. Flexon thanked Harrison for his service and contributions to the company during his tenure.
"Hunter provided leadership through a challenging transition earlier this year. The company appreciates his contributions as both interim CEO earlier this year and as chairman of the board," Flexon said.
Harrison and Elward both joined the Dynegy board in March 2011. Elward is a member of the audit and compliance committee of the board and serves as the chair of the corporate governance and nominating committee.
Elward's experience in the power generation industry will be constructive as Dynegy seeks to return to normal operations after an extended period of corporate reorganization activities.
Thomas W. Elward, age 63, served as president and chief operating officer of CMS Enterprises from March 2003 to July 2008.
Elward previously served in various roles with CMS Generation, a unit of CMS Enterprises, including president and chief operating officer from March 2003 to July 2008; president and CEO from January 2002 to February 2003; senior vice president of operations and asset management from July 1998 to December 2001; and vice president of operations from March 1990 to June 1998. Prior to CMS Enterprises, he held roles of increasing responsibility at Consumers Power, advancing to the position of plant manager.
E. Hunter Harrison, age 67, is currently a private investor. Harrison served as the President and CEO of Canadian National Railway Co. from January 2003 until December 2009 and as its Chief Operating Officer from 1998 until 2003. Prior to joining Canadian National Railway, Harrison was the President and CEO of Illinois Central Railroad from 1993 until February 1998 and its chief operating officer from 1989 to 1993.
Harrison served on the board of directors of Canadian National Railway from December 1999 until December 2009. Harrison also served on the boards of The American Association of Railroads, The Belt Railway of Chicago, Terminal Railway, Wabash National Corp., Illinois Central Railroad and TTX Co.