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President/CEO Announces Retirement, Ware Named New President/CEO
November 28, 2011
Newark, OH, November 2011: David L. Potter announced effective December 31, 2011 he will retire as President/CEO of The Energy Cooperative. Over the past ten years, Mr. Potter has improved the overall safety culture of the cooperative and safety to their members, implemented several key changes that included cutting expenditures to improve the financial stability of the cooperative, introduced new technology to become more efficient, created an Operation Round Up program and created a Succession Plan for his departure.
“Today, The Energy Cooperative is in much better financial health. Over the last ten years we have paid down about $100 million in debt while spending the same amount on improving system facilities. While there is still a long way to go to reach our goal of 40 percent equity, we have made great gains and I’m sure that the cooperative is on the right path to achieve this goal over time”, said Dave.
Dave said he and his wife Camilla will return to their former residence in Colorado to be with their family, including eight grandchildren. “We have thoroughly enjoyed our time in Ohio and I have become an Ohio State football fan and will miss the games.”
The Board of Directors has named Todd P. Ware to replace Potter, effective January 1, 2012, as President/CEO of Licking Rural Electrification, Inc. d/b/a The Energy Cooperative. Mr. Ware has been employed by The Energy Cooperative for 18 years, starting as an Accounting Manager with National Gas & Oil Corporation in 1993.
“Over the past five years I have been training Todd Ware to replace me when I decided to retire. Todd has sat in my chair during recent board meetings and I have advised him on improvements to future meetings. I strongly believe that Todd is the right person to lead your cooperative into the future”, said Dave Potter.
Mr. Ware is a graduate of The Ohio State University with a B.S. in Business Administration. He has served as VP/CFO for The Energy Cooperative since 2001 and prior to that was VP/CFO of National Gas & Oil Company. He serves on several Boards, including Licking County United Way, Genesis Healthcare Foundation, Altheirs Oil, and is on the American Gas Association Leadership Council. He is a member of the Newark Rotary and serves as Treasurer for the Rotary Foundation. Presently, he resides in Hopewell, Ohio with his wife Christy and daughters, Danielle and Katie.
Mr. Ware said “Following in Dave’s footsteps will be no easy task, but we all look forward to the challenge. We will continue to keep safety as our number one priority and will need to continue to improve our financial position. We will need to improve system reliability and member service, continue to look at new technology and change our electric culture to be more competitive based.”
Todd P. Ware, President/CEO effective January 1, 2012
David L. Potter, Retiring President/CEO
