SAN JOSE, Calif., June 14 /PRNewswire-FirstCall/ -- Calpine Corporation (OTC Pink Sheets: CPNLQ) today announced the promotion of Melissa Brown to Senior Vice President of Strategy and Financial Planning and Analysis, reporting to the Chief Financial Officer Lisa Donahue. In her new position, Ms. Brown will provide research and analysis on strategic matters and oversee Calpine's Financial Planning and Analysis group, which provides budgets, short-to mid-term forecasts, variance analysis and plant-and corporate-level financial metric analysis. In addition, she will manage an analytics group, which provides economic analysis for expansions, mergers and acquisitions and other development projects, as well as for asset rationalizations and large capital expenditures.
"As Calpine moves forward with its plans to emerge from bankruptcy, we continue to benefit from Melissa's expertise in asset divestitures, credit group coordination and other restructuring related matters," Calpine's Chief Executive Officer Robert P. May said. "She is a seasoned financial executive with more than 17 years of experience in the energy industry in finance, transactions and general operations and is an asset to our management team," he added.
Ms. Brown joined Calpine in March 2006 as the Senior Vice President-Treasurer and will maintain this role on an interim basis, continuing to manage the Treasury and Corporate Insurance functions. After receiving a bachelor of science in business administration from Oklahoma State University she began her business career at AES Corporation where she was the Manager of Corporate Financial Analysis. While at AES, Ms. Brown completed her master's in business administration from the College of William and Mary. She later joined NRG Energy where she held positions of increasing responsibility in a variety of groups, including Northeast Region, Treasury, Australia, Asset Sales, NEO Corporation, Corporate Strategy and Portfolio Assessment, Latin America and Emerging Markets and attained the position of Executive Director of Business Development. While at NRG, Ms. Brown also served as a member of the restructuring team while NRG proceeded through bankruptcy. Post bankruptcy Ms. Brown remained with the company as a member of the management team of the Northeast Region with specific responsibilities including regional strategy, budget, financial analysis and development.
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.
