July 2, 2019 • EPE Related News
El Paso Electric CEO Mary Kipp taking job in Washington, interim replacement named
El Paso Electric CEO Mary Kipp taking job in Washington, interim replacement named
El Paso Times
1 July 2019
El Paso Electric Company President and CEO will leave the company to take a job as president of Puget Sound Energy in Washington state, according to a company news release.
Adrian Rodriguez, EPE senior vice president, was chosen by the company board of directors to serve as CEO in the interim. Kipp will continue with El Paso Electric through Aug. 1.
“El Paso Electric’s commitments to our customers and our region, the place I have called home since I was a child, will continue after my departure," Kipp said in a news release. "I am fully confident in the leadership of our management team and Adrian.”
Kipp said the decision was carefully considered and ultimately made so her son could be closer to family.
She joined EPE in 2007, named president in September 2014, CEO in December 2015 and President and CEO in May 2017.
El Paso Electric agreed to be sold to J.P. Morgan's Infrastructure Investments Fund (IIF) for $4.3 billion, including debt, in early June. Multiple executives and board members received a big payday from the sale, including Kipp, who stood to get more than $7.5 million.
"While this was unexpected since we had planned for Mary to continue as CEO of the Company, we know that talent runs deep throughout the EPE organization," an IIF news spokesman said in a news release. "We share the Board’s confidence in Adrian and Elaina, and look forward to continuing to work with them and the broader EPE team to complete the transaction and partner together for the benefit of EPE and its stakeholders."
Rodriguez is an El Paso native who joined EPE in 2013 and appointed an officer and senior vice president, general counsel in 2017.
“In my role as the interim CEO I look forward to working with the rest of the senior management team, our strong union and all employees while keeping EPE focused on our vision for delivering safe, clean, affordable and reliable energy to our community,” Rodriguez said in the news release. “I also want to thank Mary for setting the path towards a cleaner energy future and for her years of dedicated work to our community.”
The board also selected Elaina Ball, EPE senior vice president and chief administrative officer to serve as interim chief operating officer.
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