Dynegy taps Elward as new Dynegy board chairman, replacing Harrison

By Susanna Moon

Chicago, Dec. 2 - Dynegy Inc. said Thomas W. Elward, independent member of the company's board of directors, will replace E. Hunter Harrison as the chairman of the board.

Harrison will resign as chairman effective Dec. 16, according to a company press release. He was interim chief executive officer earlier in the year.

Elward was president and chief operating officer of CMS Enterprises from March 2003 to July 2008. He previously held positions at CMS Generation, a subsidiary of CMS Enterprises, including president and chief operating officer from March 2003 to July 2008. Before CMS Enterprises, he was plant manager at Consumers Power.

Harrison is a private investor. He was president and chief executive officer of Canadian National Railway Co. from January 2003 until December 2009 and its chief operating officer from 1998 until 2003. Before that, Harrison was president and chief executive officer of Illinois Central Railroad from 1993 until February 1998 and its chief operating officer from 1989 to 1993. Harrison was on the board of directors of Canadian National Railway from December 1999 until December 2009. Harrison has also been on the boards of American Association of Railroads, Belt Railway of Chicago, Terminal Railway, Wabash National Corp., Illinois Central Railroad and TTX Co.

Harrison and Elward both joined the Dynegy board in March 2011. Elward sits on the audit and compliance committee of the board and is the chairman 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," the release noted.

Dynegy is a Houston-based producer and seller of electric energy, capacity and ancillary services. Dynegy Holdings LLC and four subsidiaries filed for bankruptcy on Nov. 7 in the U.S. Bankruptcy Court for the Southern District of New York. The Chapter 11 case number is 11-38111.

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