SAN JOSE, Calif., June 13 /PRNewswire-FirstCall/ -- Calpine Corporation today announced that Gary Germeroth has been named to lead Calpine's Risk Management function as the new Executive Vice President and Chief Risk Officer (CRO). In this role, Mr. Germeroth is responsible for maintaining oversight of Calpine's risk management framework and assuring that the complex risks of the company are communicated and comprehended throughout the organization.
Calpine Chief Executive Officer Robert P. May stated, "We are pleased to have Gary join the management team as we build the new Calpine. He will ensure that Calpine's risk limits are appropriate for the nature and complexity of our business by overseeing four key Risk Management functions, including Market, Credit, Business and Operational Risk Management."
Mr. Germeroth brings to Calpine more than 26 years of experience in energy strategy and risk management, having directed a variety of commercial strategy, enterprise risk management and corporate restructuring projects for multiple companies. He has led efforts related to corporate governance, portfolio risk evaluation, operational risk management, strategic options analysis, management of portfolio capital requirements, organizational and business process design, transaction settlement and financial accounting. He has most recently worked for PA Consulting Group and its predecessor firm, Hagler Bailly Risk Advisors, since 1999. Prior to joining PA in 1999, Mr. Germeroth held a variety of controllership, risk control and treasury positions at various entities in his energy career. He holds a bachelor of science degree in finance from the University of Denver.
Calpine Corporation is helping meet the needs of an economy that demands more and cleaner sources of electricity. Founded in 1984, Calpine is a major U.S. power company, capable of delivering nearly 25,000 megawatts of clean, cost-effective, reliable and fuel-efficient electricity to customers and communities in 18 states in the U.S. The company owns, leases and operates low-carbon, natural gas-fired and renewable geothermal power plants. Using advanced technologies, Calpine generates electricity in a reliable and environmentally responsible manner for the customers and communities it serves. Please visit http://www.calpine.com/ for more information.
