Pantellos CEO Exits

Utility e-marketplace, moving into "more mature phase," gets interim chief

The Woodlands, TX  October 14, 2002  Utility and energy industry e-marketplace Pantellos shook up its leadership on Friday, with its CEO exiting and an interim chief taking the reins.

The e-marketplace announced on Friday that Graham Collins had resigned as CEO, effective immediately. Collins also resigned from the company's board of directors.

The company said it was beginning a search for a new CEO. Bob Murray, chairman of the Pantellos board, will serve as interim CEO.

Pantellos, based near Houston, formed in mid-2000 on the initiative of 21 North American utility companies. Its e-marketplace launched in January 2001, and it claims that more than 200,000 transactions have run through the e-market to date, with a total deal flow of $780 million.

In a statement, Murray said the company was moving into "more of a mature phase of our business" and was seeing increasing revenues even as it worked to reduce its expenses.

Murray has more than 25 years of energy and utility industry experience, including 10-plus years as vice president and chief financial officer of Public Service Enterprise Group.