Tag Archives: Raytheon Missile Systems

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Fortis boosts power with Acquisition of UNS Energy

Fortis Inc. completed its acquisition of UNS Energy Corporation, adding UNS Energy subsidiaries Tucson Electric Power (TEP) and UniSource Energy Services (UES) to its growing international family of electric and gas utility companies.

TEP and UES will remain headquartered in Tucson under local control with current management and staffing levels and no planned changes to existing operations. Under the terms of a written order issued by the Arizona Corporation Commission (ACC) on Aug. 12, both companies will have enhanced financial strength and other benefits as part of Fortis, while their Arizona customers will receive $30 million in bill credits over the next five years.

“Joining the Fortis family will generate benefits for our company, our customers and the communities we serve,” said David Hutchens, President and CEO of UNS Energy, TEP and UES. “While this transaction opens a new chapter in our company’s history, our story remains the same. We will continue working every day to provide the safe, reliable and affordable service our customers have come to expect.”

With the $4.5 billion acquisition, which includes the assumption of $2 billion in debt, UNS Energy becomes the second largest subsidiary of Fortis and expands that company’s customer base to more than 3 million. Fortis is Canada’s largest investor-owned electric and gas distribution holding company, with regulated utility holdings in Canada, the United States and the Caribbean.

“TEP and UES are well-run companies whose employees are committed to serving their customers and communities,” said Fortis President Barry Perry, who will succeed H. Stanley Marshall as the company’s CEO effective December 31, 2014. “We welcome both companies to the Fortis team and look forward to supporting their continued success in serving their customers’ energy needs.”

Local, Independent Board Majority

The UNS Energy Board of Directors was reconstituted today as a result of the acquisition. In addition to Perry and John C. Walker, Fortis’ Executive Vice President of Western Canadian Operations, the board’s nine members include Hutchens and six other longtime Arizona residents who will continue on as independent directors from the previous UNS Energy Board:

• Lawrence J. Aldrich, Chairman and Executive Director of the Arizona Business Coalition on Health.
• Robert A. Elliott, President and Owner, Elliott Accounting.
• Louise L. Francesconi, former President of Raytheon Missile Systems.
• Ramiro G. Peru, former Executive Vice President and Chief Financial Officer of Phelps Dodge Corporation.
• Gregory A. Pivirotto, former CEO and Director of University Medical Center.
• Joaquin Ruiz, Dean of the University of Arizona College of Science, Executive Dean of the Colleges of Letters, Arts and Sciences.

UNS Energy remains the parent company of TEP and UES and will continue to oversee their local operations. UNS Energy’s stock will not trade on the New York Stock Exchange after today. Shareholders will be notified by transfer agency Computershare with instructions on how to redeem their shares.

TREO-Chairmans_Circle_2013

TREO adds to leadership

The TREO Board of Directors announced the following new leadership additions:

> New Vice Chairman of the Board/Chair-Elect: Guy Gunther, Vice President and General Manager, Tucson and Greater Arizona, CenturyLink. The Vice Chairman serves a key leadership role in partnership with the Chairman of the Board, and serves as Chair-Elect for the 2013-2014 Fiscal Year.

New Chairman’s Circle Members:
> Karen D. Mlawsky, CEO, University of Arizona Medical Center
> Sandra Watson, President & CEO, Arizona Commerce Authority

“We’re thrilled to continue adding top business leadership to our ranks,” said Steve Eggen, retired CFO, Raytheon Missile Systems. “We have put together the right critical mass of leaders to accelerate our economic growth.”

As CenturyLink’s Vice President and General Manager, Guy Gunther is responsible for Northern and Southern Arizona markets for voice, data, entertainment and managed services, including P&L, field operations, customer experience, direct and indirect sales channels, network development and community relations. Gunther has over 20 years of senior management experience in telecommunications, consulting firms and finance. “I am honored to become part of the leadership of this effective organization,” said Gunther. “TREO is the connective tissue in the region – promoting our assets and creating value for companies looking to establish or expand operations in Southern Arizona.”

As CEO of the Hospital Division of The University of Arizona Health Network, Karen Mlawsky oversees both The University of Arizona Medical Center – University Campus and The University of Arizona Medical – South Campus, as well as dozens of affiliated clinics and physicians’ offices. She previously served as vice president of oncology services for University Medical Center in Tucson and spent more than 13 years at the Ohio State University Medical Center. “Health care will likely be one of the top job-creating industries, regardless of a slow economic recovery,” said Mlawsky. “There is tremendous opportunity to contribute to our region’s economic development through teaching and training our future health-care workforce.”

Sandra Watson, president and CEO of the Arizona Commerce Authority (ACA), brings more than 20 years of economic development leadership and experience to Arizona. She and her teams have successfully attracted hundreds of companies that have invested billions of dollars in capital and created more than 65,000 quality jobs. With Governor Brewer’s visionary leadership, and a private sector board of directors made up of some of the state’s most successful CEOs, the ACA has established an aggressive five-year plan and is experiencing strong results in strengthening the state’s overall economy. “Partnering with regional groups such as TREO is critical to our overall success. TREO is central to a larger, collaborative movement in the state,” said Watson. “As a result of our strong, long-standing working relationship, we will continue to attract quality companies creating high-wage jobs in the Tucson region, benefitting the statewide economy.”

TREO Officers include:
> Chairman of the Board – Steve Eggen, (ret.) Chief Financial Officer, Raytheon Missile Systems
> Vice Chairman of the Board/Chair-Elect – Guy Gunther, Vice President and General Manager, Tucson and Greater Arizona, CenturyLink
> Immediate Past Chairman – Paul Bonavia, Chairman and CEO, UNS Energy Corp. & Tucson Electric Power Company
>  Secretary/Treasurer – Lisa Lovallo, Market Vice President, Southern Arizona, Cox Communications

TREO is governed by a 16-member Chairman’s Circle, which serves as a key advisory group for business development strategy and represents the Tucson region to national business prospects, and a 46-member Board of Directors.

TREO continues its Chairman’s Circle/Board of Directors expansion efforts begun in 2010. Economic development is a high priority, demanding increased engagement from the key companies, organizations and people that drive the Southern Arizona economy. TREO leadership recognizes the importance of providing strong thought leadership for community development and strengthening the Tucson “product” and positioning as a business center.

The above new members join other leaders providing both private and public sector perspective in accelerating economic development. For a complete listing of the TREO Chairman’s Circle and Board of Directors, visit http://www.treoaz.org/About-TREO-Board-of-Directors.aspx.