Cascade Natural Gas Corporation Names W. Brian Matsuyama Vice Chairman.SEATTLE -- Effective October 1, 2004, Cascade Natural Gas Corporation (NYSE NYSE See: New York Stock Exchange :CGC CGC Canine Good Citizen (AKC Dog Title) CGC Commission Géologique du Canada (Geological Survey of Canada) CGC Confédération Générale des Cadres (French labor union) ) has named W. Brian Matsuyama as Vice Chairman. Matsuyama has served as Cascade's 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. since 1995. He will continue to serve as acting President and CEO while a search is conducted for the new President and CEO. Larry L. Pinnt, Chairman of the Board said, "Brian's move to the Vice Chairman position accommodates his personal desire to begin moving toward retirement from a management role, while assuring that the Company will continue to have access to his experience and knowledge of the natural gas distribution business. Brian's appointment as Vice Chairman and the appointment of a new President and CEO also fulfills the long-term strategic succession plan of the Board to maintain strong leadership in an increasingly competitive and challenging industry," Matsuyama stated, "Cascade continues to be a company with wonderful opportunities and I look forward to working with a new CEO toward Cascade's future success." Cascade Natural Gas Corporation, a natural gas distribution company, serves approximately 220,000 residential, commercial, industrial and transportation customers in 93 communities in Washington and Oregon. Statements contained in this report that are not historical in nature are forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements are subject to risks and uncertainties that may cause actual future results to differ materially. Such risks and uncertainties with respect to the Company include, among others, its ability to successfully implement internal performance goals, competition from alternative forms of energy, consolidation in the energy industry, natural gas prices, performance issues with key natural gas suppliers and upstream pipelines, the capital-intensive nature of the Company's business, regulatory issues, including the need for adequate and timely rate relief to recover capital and operating costs operating costs npl → gastos mpl operacionales and to sustain dividend levels, the weather, increasing competition brought on by 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. initiatives at the federal and state regulatory levels, the potential loss of large volume industrial customers due to "bypass" or the shift by such customers to special competitive contracts at lower per-unit margins, exposure to environmental cleanup The process of removing solid, liquid, and hazardous wastes, except for unexploded ordnance, resulting from the joint operation of US forces to a condition that approaches the one existing prior to operation as determined by the environmental baseline survey, if one was conducted. requirements, and economic conditions, particularly in the Company's service area. |
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