HOUSTON—Power and natural gas conglomerate Dynegy has named Peter Wilt, an energy industry veteran with nearly 35 years of experience, as vice president of investor relations and Norelle Lundy, formerly the director of planning and financial reporting for the company’s power generation business, as director of Investor Relations.
At the same time, the company said the investor relations function would now report directly to president and chief executive officer Bruce Williamson.
The company’s share price has been on a roller-coaster ride since scandals engulfed competitor Enron and it became the subject of fraud investigations itself, leading to guilty pleas from two top executives. The company’s shares collapsed to about 49 cents in 2002 before rebounding. Today, they are hovering just under the $4 mark.
In his role as vice president of investor relations, Wilt will serve as a liaison between the company’s management, the investing public and the financial community, including portfolio managers and research analysts. He will also be responsible for communicating Dynegy’s financial results, operational performance and business strategies to the investment community. He will be a member of Dynegy’s executive management committee.
“Pete’s broad natural gas and power experience, business development capabilities and background in commercial operations and finance will be invaluable to our efforts of developing and expanding relationships with the investment community,” Williamson said. “Our company is committed to maintaining a candid and open dialogue with all our stakeholders, and I am confident that this new investor relations team will enhance communications between Dynegy and our investors.”
Wilt has spent the last six years in senior leadership positions with Duke Energy in Europe and Latin America. Most recently, he served as executive vice president of Duke Energy International, where he was responsible for Duke Energy’s European business. Before joining Duke, he held leadership positions in regulatory affairs, commercial operations and business development with Enron and Transco Energy.
Senior director of investor relations Katie Pipkin is leaving Dynegy to accept a position as a sell-side research analyst with a large investment banking firm.