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GPU Advanced Resources Announces Expanded Leadership; Subsidiary Sells Competitive Energy in Mid-Atlantic Region.


MORRISTOWN, N.J.--(BUSINESS WIRE)--Feb. 15, 1999--The Board of Directors of GPU GPU: see secret police.


(Graphics Processing Unit) A specialized logic chip devoted to rendering 2D or 3D images. Display adapters contain one or more GPUs for fast graphics rendering.
 Advanced Resources, Inc., the non-regulated subsidiary of GPU, Inc. (NYSE NYSE

See: New York Stock Exchange
: GPU) announced the election of new officers and a director at its regular meeting on February 12, 1999.

The Advanced Resources Board elected GPU, Inc. Chairman, President and 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.  Fred D. Hafer as chairman and named Robert S. Plenderleith as president. Mr. Plenderleith, who succeeds Bruce L. Levy as president, was previously a vice president at Advanced Resources. Levy is GPU, Inc. senior vice president and chief financial officer. Hafer and Levy will retain their Board directorships.

The newly elected director is Carole B. Snyder, executive vice president - corporate affairs, GPU Service, Inc. and the newly elected comptroller is Kimberlie L. Bortz who most recently held the position of accounting manager at Advanced Resources.

"Advanced Resources set and exceeded very aggressive goals for 1998. Those achievements have helped move it from a start-up company start-up company

A new business.
 to an active participant in the developing retail market," said Hafer. "Bob's leadership has been instrumental in Advanced Resources' success and his new position allows him to continue to guide it through the challenges ahead."

GPU Advanced Resources, an electric generation supplier licensed by the Pennsylvania Public Utility Commission, was formed to provide energy and related services to retail customers. GPU Advanced Resources currently serves 15,000 customers in Pennsylvania and plans to expand in the mid-Atlantic region of the U.S. as those markets deregulate deregulate

To reduce or eliminate control. One of the major forces in the financial markets in the 1970s and 1980s was the federal government's decision to deregulate interest rates.
.

Plenderleith was elected vice president of GPU Advanced Resources in 1998. He joined the GPU system in 1982 as a senior auditor and progressed to various financial and strategic planning positions at GPU including assistant comptroller for the company's largest operating unit operating unit

A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon
 and vice president of finance for its independent power subsidiary. He graduated from the Philadelphia College of Textiles and Science with a Bachelor of Science Noun 1. Bachelor of Science - a bachelor's degree in science
BS, SB

bachelor's degree, baccalaureate - an academic degree conferred on someone who has successfully completed undergraduate studies
 Degree in Accounting and is a Certified Public Accountant Certified Public Accountant (CPA)

An accountant who has met certain standards, including experience, age, and licensing, and passed exams in a particular state.
. Plenderleith and his wife Linda have two sons.

Bortz joined GPU in 1992 as a staff auditor. She held several positions in internal auditing, materials and services, and sales and marketing departments. In 1997 she started as a senior accountant with Advanced Resources and was promoted to accounting manager the following year. Bortz graduated from the University of Maryland University of Maryland can refer to:
  • University of Maryland, College Park, a research-extensive and flagship university; when the term "University of Maryland" is used without any qualification, it generally refers to this school
 with a Bachelor of Science Degree in Accounting and is a Certified Public Accountant. She and her husband Douglas have four children.

GPU, Inc., headquartered in Morristown, NJ, is a registered utility holding company. The company's three domestic utility subsidiaries--Jersey Central Power and Light Company, Metropolitan Edison Company and Pennsylvania Electric Company--do business under the trade name of GPU Energy. GPU Energy operates the largest electric distribution system across Pennsylvania and New Jersey and serves approximately two million customers. The GPU International Group develops, owns and operates generating plants both here and abroad, and owns and manages international transmission and distribution systems. GPU's other subsidiaries include: GPU Generation, Inc.; GPU Nuclear, Inc.; GPU Service, Inc; and GPU Telcom Services, Inc. (http://www.gpu.com)
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1999, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:Feb 15, 1999
Words:502
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