Allegheny Energy CEO Wins Global Energy Award.Business Editors HAGERSTOWN, Md.--(BUSINESS WIRE)--Dec. 7, 2001 Alan J. Noia, Chairman of the Board, President, and Chief Executive Officer of Allegheny Energy Allegheny Energy (NYSE: AYE) is a traditional public utility based in the Pittsburgh suburb of Greensburg. It services communities in Western Pennsylvania, Western Maryland, Northern West Virginia, Northwest Virginia. , Inc. (NYSE NYSE See: New York Stock Exchange : AYE), has been selected "CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the Year" as part of the Platts 2001 Financial Times Global Energy Awards. The award, which is co-sponsored by Deloitte Touche Tohmatsu Deloitte & Touche (also referred to as Deloitte Touche Tohmatsu, and branded as Deloitte.) is the second largest professional services firm in the world, and one of the Big Four auditors, along with PricewaterhouseCoopers, Ernst & Young and KPMG. , was presented last night at a ceremony in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . "I am very pleased and honored to receive this Global Energy Award as 'CEO of the Year,'" Noia said. "I want to thank our leadership team, Board of Directors, and the nearly 6,000 men and women of Allegheny Energy who are responsible for everything we do and everything we achieve. These employees and leaders are dedicated to our strategy of transforming Allegheny Energy from a regional electric utility into a national energy merchant. I have always believed that our people are a key to our success, and I am proud to accept this award on their behalf." Noia said the award is "a tribute to Allegheny Energy's ability to grow earnings and increase value for our shareholders, while successfully meeting the challenges of a changing energy marketplace. Any one of the finalists would have been an exceptional choice, which makes receiving this award that much more special for me." In presenting the award, Doug McCracken, CEO of Deloitte Consulting and Chairman of Deloitte and Touche, said Noia "has guided his company with decisiveness and conviction during its transformation into a national energy merchant. His company has emerged as a leader in the changing energy marketplace by acquiring and integrating new natural gas businesses, adding valuable megawatts to its generating portfolio, expanding into energy-related businesses and telecommunications, and adding an energy marketing and trading operation that brings them a new dimension in earnings potential. Combined with ties to the community and the ability to step ahead of the curve on deregulation Deregulation The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry. Notes: Traditional areas that have been deregulated are the telephone and airline industries. issues, this year's winner most closely reflects the criteria for this leadership award." Under Noia's leadership, Allegheny Energy consistently ranks among the top performers in the Dow Jones Dow Jones the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202] See : Finance U.S. Electric Utility Group and has posted outstanding earnings during 2001 following a year in which its stock price increased by 79 percent and record yearly earnings were achieved. In recognition of its financial performance and value provided to its shareholders, Allegheny Energy is now recognized on the Fortune 500, Standard & Poor's 500, Barron's 500, and Forbes' Platinum 400 lists of America's best companies. Allegheny Energy, Inc. is a diversified energy company headquartered in Hagerstown, Md. It has been named to the Fortune 500 list, the Standard and Poor's Noun 1. Standard and Poor's - a broadly based stock market index Standard and Poor's Index 500 index, and the Forbes "Platinum 400" list. The Allegheny Energy family includes Allegheny Power, which delivers electric energy and natural gas to about three million people in parts of Maryland, Ohio, Pennsylvania, Virginia, and West Virginia West Virginia, E central state of the United States. It is bordered by Pennsylvania and Maryland (N), Virginia (E and S), and Kentucky and, across the Ohio R., Ohio (W). Facts and Figures Area, 24,181 sq mi (62,629 sq km). Pop. ; Allegheny Energy Supply Company, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , which develops, owns, and operates electric generating facilities and supplies and trades energy and energy-related commodities in selected domestic retail and wholesale markets; and Allegheny Ventures, which invests in and develops telecommunications and energy-related projects. For more information, visit our web site at www.alleghenyenergy.com. Platts is the world's largest and most authoritative provider of energy information and market services, with 17 offices worldwide. Products range from real-time and internet-based news and price assessment services to newsletters, market reports, databases, magazines, conferences, research services, geospatial Geospatial is a term widely used to describe the combination of spatial software and analytical methods with terrestrial or geographic datasets. The term is often used in conjunction with geographic information systems and geomatics. tools, and consulting. Platts' offerings cover the oil, petrochemical, natural gas, electricity, nuclear power, coal, and metals markets. Every day, more than $10 billion of trading activity and term contract sales are based on Platts' price assessments. Additional information is available at www.platts.com and www.plattsmetals.com. Deloitte Touche Tohmatsu is one of the world's leading professional service firms, delivering world-class assurance and advisory, tax, and consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" . More than 92,000 people in more than 130 countries serve nearly one-fifth of the world's largest companies as well as large national enterprises, public institutions, and successful, fast-growing companies. Please visit www.deloitte.com for more information. |
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