Howard Hawks Retires as Tenaska CEO, Remains Board Chairman - 06/24/10
OMAHA, Nebraska – Howard Hawks, co-founder of Tenaska, Inc. and affiliated entities (Tenaska), one of the nation’s largest and most successful independent energy companies, announced he will retire from his role as chief executive officer (CEO) of the company, effective July 1, 2010, but he will remain chairman of the company and will remain actively involved in key strategic decisions. He also will remain chairman of the investment committees of Tenaska Power Fund, L.P. (TPF I), and TPF II, L.P., two affiliated private equity investment companies developed by Tenaska.
“Our executive leadership team and employees are the best in the business, and the reputation for integrity and quality we have created in Tenaska will continue,” Hawks said. “We have been moving in this direction for some time, such that this will not be a big change.”
Hawks’ decision to retire as CEO will result in some other organizational changes to position Tenaska for continued growth and leadership in energy marketing, power generation development and private equity investment.
Hawks said Tenaska’s CEO responsibilities will be assumed by:
- Jerry Crouse, who will become vice chairman of Tenaska and CEO of Tenaska, Inc., with responsibility for holding company assets and activities.
- Paul Smith, who will become vice chairman of Tenaska, in addition to his current role as CEO of Tenaska Capital Management, LLC (TCM), an affiliate that manages private equity funds.
Crouse currently is chief financial officer of Tenaska. He joined Tenaska in 1991, and has more than 25 years of financial management and accounting experience, primarily in the energy and services industries.
Smith joined Tenaska in 1990, and has more than 25 years of experience in the energy and power industries. He is a co-founder of TCM, the manager of the TPF I and TPF II private equity funds.
Tenaska announced that Greg Van Dyke, currently finance vice president and treasurer, will be promoted to chief financial officer and treasurer of Tenaska, Inc. Tim Kudron, now vice president and controller, will become senior vice president and corporate controller of Tenaska, Inc.
Under Hawks’ leadership since its inception in 1987, Tenaska has grown to one of the leading independent wholesale power producers in the U.S., with regional offices in Dallas, Denver and Calgary, Alberta, Canada. Tenaska has developed about 9,000 megawatts (MW) of power generation and currently manages and operates eight power plants totaling 6,700 MW that it owns in partnership with other companies. The company also has affiliates that are involved in natural gas, electricity and biofuels marketing, as well as private equity funds, gas exploration and production, and investments in renewable energy.
Hawks and his wife Rhonda are longtime civic leaders and philanthropists. He is a member of the University of Nebraska Board of Regents and serves or has served on many boards, including Creighton University, Joslyn Art Museum, Omaha Zoological Society, Boys & Girls Club of Omaha, Greater Omaha Chamber of Commerce, Methodist Hospital, Omaha Symphony and Opera Omaha, in addition to other area organizations.
More About Tenaska
Tenaska is one of the largest independent power producers in the United States. Forbes magazine ranks Tenaska 16th among the largest privately-held U.S. companies, based on 2008 revenues. Tenaska affiliates are also involved in energy marketing, private equity fund and acquisition management, fuel supply, natural gas exploration, production and transportation systems and electric transmission development. For more information about Tenaska, visit the company's Web site at www.tenaska.com.