Welcome!

News Feed Item

Just Energy Group Announces Leadership Transition Solidifies Executive Leadership Team for the Future

Company to appoint Deborah Merril and James Lewis Co-Chief Executive Officers

TORONTO, ONTARIO -- (Marketwired) -- 02/26/14 -- Just Energy Group, Inc. (TSX: JE) (NYSE: JE), a competitive retailer of electricity and natural gas, today announce that Chief Executive Officer Ken Hartwick has submitted his resignation from the Company to be effective April 1, 2014 to pursue personal interests. The Company announced that the Board of Directors has appointed Deborah Merril, Just Energy's current Executive Vice President, Commercial, and James Lewis, Just Energy's current Chief Operating Officer, as Co-Chief Executive Officers effective on Mr. Hartwick's resignation.

Rebecca MacDonald, the Company's Executive Chair commented, "Ken Hartwick has been an important part of Just Energy and our executive management team for a decade and we wish him well in his future endeavors. Given Ken's decision, the Board determined that this transition provides an opportunity to bring our experienced Executive Vice Presidents to the top of Just Energy's leadership structure. There is no better tandem to lead our dynamic organization into its next phase as Deb and Jay bring to their new leadership roles extensive industry experience and a thorough knowledge of how Just Energy operates. Jay and Deb have worked together for 16 years and during their tenure at the Company, have demonstrated unique, complimentary capabilities that will provide the balanced leadership we are seeking to take our organization forward as we move to expand our leadership position in North America. Our new co-CEOs are committed to maintaining our growth profile and continuing to focus on our bundling strategy, while also working to further reduce the payout ratio over time to support the income our shareholders expect to receive. As Executive Chair, I intend to fully support Deb and Jay and provide the resources needed to execute our unified strategic vision for our Company."

Chief Executive Officer Ken Hartwick, commented, "After ten years at Just Energy, I have resigned for personal reasons. I take comfort in my decision as the Company is in tremendous financial and operational condition, recently delivering our ninth consecutive quarter of over 300,000 customer additions, achieving a record level customer base, and demonstrating significant progress toward accomplishing our financial targets for 2014 and beyond." Mr. Hartwick added, "I look forward to our fourth quarter and meeting our guidance for the year, after which my resignation will be effective. I fully intend to be a resource to Deb and Jay over the foreseeable future. Deb and Jay have served as key components of our management team as we have grown our U.S. market presence and I have the utmost confidence in their leadership abilities to lead the Company into its next phase of development. I want to thank the Board and our entire staff for the opportunity to have led the organization through periods of significant growth and transition. I look forward to closely following Just Energy's continued success."

Deborah Merril Background

Deb Merril joined Just Energy in 2008 and most recently served as President of the Hudson Energy Commercial Division, a position held since the acquisition of Hudson in 2010. In this role, she is responsible for the fast growing commercial business in the United States, Canada and the U.K. Ms. Merril has 18 years of energy marketing experience. She graduated from the College of Wooster and received a Masters of Business Administration from Texas A&M.

James Lewis Background

Jay Lewis joined Just Energy in 2008 and most recently served as Chief Operating Officer, a position held since 2011. In this role, Mr. Lewis was responsible for administrative operations including supply, call center operations and the Consumer Division. Mr. Lewis brings 17 years of experience in the energy marketing industry and has held various positions of increasing responsibility across the company's operational function including Senior Vice President of Operations and Retention, Vice President of Retail Consolidated Billing Markets and Vice President, Texas Operations. He is a graduate of Stevens Institute of Technology and has a Masters of Business Administration from the New York University.

Just Energy Group Inc.

Established in 1997, Just Energy is primarily a competitive retailer of natural gas and electricity. With offices located across the United States, Canada and, commencing in July 2012, the United Kingdom, Just Energy serves close to 2 million residential and commercial customers through a wide range of energy programs and home comfort services, including fixed-price or price-protected energy program contracts, the rental of water heaters, furnaces and air conditioners and the installation of solar panels. The Company's JustGreen® products provide consumers with the ability to help them reduce the environmental impact of their everyday energy use. Just Energy is the parent to Amigo Energy, Commerce Energy, Hudson Energy, Hudson Energy Solar, National Home Services, Momentis and Tara Energy.

FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements including statements pertaining to factors that could cause actual results or events to differ materially from current expectations include, among other things, risk relating to global political uncertainties, unanticipated events impacting the working capital of the Company, changes in customer revenues and margins, customer additions and renewals, customer attrition, customer consumption levels, general and administrative expenses, dividends, distributable cash and treatment under governmental regulatory regimes and changes in securities markets. These statements are based on current expectations that involve a number of risks and uncertainties which could cause actual results to differ from those anticipated. These risks include, but are not limited to, levels of customer natural gas and electricity consumption, rates of customer additions and renewals, rates of customer attrition, fluctuations in natural gas and electricity prices, changes in regulatory regimes and decisions by regulatory authorities, competition and dependence on certain suppliers. Additional information on these and other factors that could affect Just Energy's operations, financial results or dividend levels are included in Just Energy's annual information form and other reports on file with Canadian securities regulatory authorities which can be accessed through the SEDAR website at www.sedar.com, on the U.S. Securities Exchange Commission's website at www.sec.gov or through Just Energy's website at www.justenergygroup.com .

Neither the Toronto Stock Exchange or the New York Stock Exchange has approved nor disapproved of the information contained herein.

Contacts:
Just Energy Group, Inc.
Rebecca MacDonald
Executive Chair
(416) 367-2872
[email protected]
www.justenergygroup.com

FTI Consulting
Michael Cummings
Investor Relations
(617) 897-1532
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Codigm is based on the cloud and we are here to explore marketing opportunities in America. Our mission is to make an ecosystem of the SW environment that anyone can understand, learn, teach, and develop the SW on the cloud," explained Sung Tae Ryu, CEO of Codigm, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"We're developing a software that is based on the cloud environment and we are providing those services to corporations and the general public," explained Seungmin Kim, CEO/CTO of SM Systems Inc., in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"We're focused on how to get some of the attributes that you would expect from an Amazon, Azure, Google, and doing that on-prem. We believe today that you can actually get those types of things done with certain architectures available in the market today," explained Steve Conner, VP of Sales at Cloudistics, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, provided a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to oper...
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
WebRTC is great technology to build your own communication tools. It will be even more exciting experience it with advanced devices, such as a 360 Camera, 360 microphone, and a depth sensor camera. In his session at @ThingsExpo, Masashi Ganeko, a manager at INFOCOM Corporation, introduced two experimental projects from his team and what they learned from them. "Shotoku Tamago" uses the robot audition software HARK to track speakers in 360 video of a remote party. "Virtual Teleport" uses a multip...
SYS-CON Events announced today that Telecom Reseller has been named “Media Sponsor” of SYS-CON's 22nd International Cloud Expo, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
DevOps promotes continuous improvement through a culture of collaboration. But in real terms, how do you: Integrate activities across diverse teams and services? Make objective decisions with system-wide visibility? Use feedback loops to enable learning and improvement? With technology insights and real-world examples, in his general session at @DevOpsSummit, at 21st Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, explored how leading organizations use data-driven DevOps to close th...
"CA has been doing a lot of things in the area of DevOps. Now we have a complete set of tool sets in order to enable customers to go all the way from planning to development to testing down to release into the operations," explained Aruna Ravichandran, Vice President of Global Marketing and Strategy at CA Technologies, in this SYS-CON.tv interview at DevOps Summit at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Enterprises are moving to the cloud faster than most of us in security expected. CIOs are going from 0 to 100 in cloud adoption and leaving security teams in the dust. Once cloud is part of an enterprise stack, it’s unclear who has responsibility for the protection of applications, services, and data. When cloud breaches occur, whether active compromise or a publicly accessible database, the blame must fall on both service providers and users. In his session at 21st Cloud Expo, Ben Johnson, C...
Coca-Cola’s Google powered digital signage system lays the groundwork for a more valuable connection between Coke and its customers. Digital signs pair software with high-resolution displays so that a message can be changed instantly based on what the operator wants to communicate or sell. In their Day 3 Keynote at 21st Cloud Expo, Greg Chambers, Global Group Director, Digital Innovation, Coca-Cola, and Vidya Nagarajan, a Senior Product Manager at Google, discussed how from store operations and ...
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
"The reason Tier 1 companies are coming to us is we're able to narrow the gap where custom applications need to be built. They provide a lot of services, like IBM has Watson, and they provide a lot of hardware but how do you bring it all together? Bringing it all together they have to build custom applications and that's the niche that we are able to help them with," explained Peter Jung, Product Leader at Pulzze Systems Inc., in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2,...