GTI Makes Changes to Board of Directors, Elects New CFO
On March 19, 2009, Gas Technology Institute (GTI) held its Spring Meeting of the Board of Directors. At that event, the Board approved a number of changes in GTI's Board of Directors and leadership team.
Ms. Mary Jane McCartney, Senior Vice President, Gas Operations, Consolidated Edison Company of New York, Inc. announced her retirement as Chair of the GTI Board effective April 30, 2009, concurrent with her retirement from Consolidated Edison. She has served as GTI's Chair since 2005.
"Mary Jane has been a vital asset to our organization," noted David Carroll, GTI President and CEO. "She has worked closely with the GTI Board and senior staff to help transform GTI into a company that effectively addresses key energy industry issues. Under her guidance, we have expanded our ability to provide solutions that create exceptional value for our customers in the global marketplace. Mary Jane's contributions and leadership will be missed greatly at GTI, and we wish her well in all her future endeavors."
Mr. Randall L. Barnard, Senior Vice President, Technical Services and Operations, Williams Gas Pipeline was elected to replace McCartney as Chair of the GTI Board. Mr. Terry D. McCallister, President and COO, WGL Holdings, Inc. and Washington Gas Light Co. was elected Vice Chair.
The Board has also elected Christopher D. Herrman to replace Kenneth L. Wicherek, GTI's Vice President of Finance, Treasurer, and Chief Financial Officer (CFO), who announced his retirement effective June 30, 2009. Wicherek joined the Institute of Gas Technology in 1975, moving through the ranks of accounting, management and treasurer roles since that time.
"Ken has been a long-standing asset to our organization," said David Carroll. "His dedication to GTI made him an instrumental member of our leadership team, and he played a key role in GTI's transition. We offer him our sincere thanks and best wishes as he moves on to enjoy his well-deserved retirement."
Herrman's new role as Vice President and CFO will take effect May 1, 2009. He is responsible for a wide-ranging set of key initiatives, including the optimization of financial activities across the organization, managing GTI's equity interests and investments, maintaining a broad risk management program, developing business plans, and overseeing the treasury function.
Herrman joined GTI in March 2007 from Merrill Lynch Capital, where as Vice President, Corporate Finance he underwrote, closed, and managed cash-flow debt facilities used to finance private-equity-backed buyouts and recapitalizations of middle-market companies.
Prior to that, he held positions of increasing responsibility with Heller Financial, GE Capital and LaSalle Bank. Herrman earned a B.S. degree in finance from Northern Illinois University and a M.B.A. from Northwestern University Kellogg School of Management.