DALLAS, March 2 /PRNewswire-FirstCall/ -- TXU Corp. , announced today that Dr. E. Gail de Planque has resigned from the TXU Corp. Board of Directors. Dr. de Planque's resignation avoids any perception of a potential conflict of interest arising out of her historical professional relationships within the industry. In her letter of resignation, Dr. de Planque noted that, as a result of the advice of outside counsel to both TXU and the Strategic Transactions Committee of the Board of Directors of TXU and the recommendation of the Board, she had recused herself from all discussions about the proposed merger announced February 26. In light of the expected continuing deliberations of the Board of Directors relating to the proposed transaction, Dr. de Planque decided, consistent with the views of the Board and outside counsel to TXU and the Strategic Transactions Committee, that it was in the best interests of all parties concerned that she resign effective immediately.
C. John Wilder, TXU's chairman and CEO said, "We appreciate the opportunity we have had to work with Gail, who has provided years of dedicated service and guidance to TXU, as well as effective leadership as Chair of the Nuclear Committee since October 2005."
Dr. de Planque has served on the TXU board since 2004. She is a former commissioner of the U.S. Nuclear Regulatory Commission and also serves on the boards of BHP Billiton Plc, BHP Billiton Ltd., Northeast Utilities, and Landauer, Inc.
TXU's Nuclear Committee will be chaired by Dr. Jack Little, TXU's lead director and the former chief executive officer of Shell Oil Company.
TXU Corp., a Dallas-based energy company, manages a portfolio of competitive and regulated energy businesses primarily in Texas. In the competitive TXU Energy Holdings segment (electricity generation, wholesale marketing and retailing), TXU Energy provides electricity and related services to more than 2.1 million competitive electricity customers in Texas. TXU Power has over 18,100 MW of generation in Texas, including 2,300 MW of nuclear and 5,800 MW of coal-fueled generation capacity. TXU Wholesale optimizes the purchases and sales of energy for TXU Energy and TXU Power and provides related services to other market participants. TXU Wholesale and its affiliate, TXU Renew, are the largest purchasers of wind-generated electricity in Texas and fifth largest in the United States. TXU Corp.'s regulated segment, TXU Electric Delivery, is an electric distribution and transmission business that uses superior asset management skills to provide reliable electricity delivery to consumers. TXU Electric Delivery operates the largest distribution and transmission system in Texas, providing power to three million electric delivery points over more than 101,000 miles of distribution and 14,300 miles of transmission lines. Visit http://www.txucorp.com/ for more information about TXU Corp.
© 2007 PR Newswire
