FLORIDA PROGRESS ANNOUNCES ORGANIZATIONAL CHANGES
FLORIDA PROGRESS ANNOUNCES ORGANIZATIONAL CHANGES ST. PETERSBURG, Fla., Nov. 21 /PRNewswire/ -- Florida Progress
Corporation's (NYSE: FPC) board of directors today announced organizational changes effective Dec. 1, 1991, which will assist in the streamlining of the company and its diversified operations. Named president and chief operating officer of Florida is Richard Korpan.
Korpan, who has been an executive vice president and chief financial officer, will have reporting to him the company's operating groups, which include the Utility Group (Florida Power Corporation), the Energy & Transportation Group (Electric Fuels Corporation), the Finance & Life Group Companies (Progress Credit Corporation and Mid-Continent Life Insurance Company) and Advanced Separation Technologies. In addition, the board announced that corporate staff functions -- which formerly reported through two executive vice presidents -- will now be consolidated under Executive Vice President Joseph F. Cronin. Both Korpan and Cronin will report to the chairman of the board and chief executive officer, Dr. Jack B. Critchfield. The company's general counsel, corporate secretary and director of internal audits, also will report directly to Critchfield. David R. Kuzma, who has been the company's senior vice president, finance, has been elected to the position of chief financial officer, replacing Korpan. Kuzma, as senior vice president and chief financial officer, will report to Cronin and be responsible for all the financial functions of the organization, including controller, treasury, risk management, tax administration and investor relations. Continuing to report to Cronin will be Joseph H. Richardson, senior vice president, Corporate Development & Planning, as well as the corporate support functions of human resources, public affairs and communications. Florida Progress is a $5-billion diversified utility holding company whose principal subsidiary is St. Petersburg-based Florida Power Corporation, the state's second largest electric utility. Florida Progress' diversified operations include coal mining and transportation, finance and life insurance. -0- 11/21/91 /CONTACT: Sally Everett of Florida Progress Corporation, 813-824-6440/ (FPC) CO: Florida Progress Corporation ST: Florida IN: UTI SU: PER MR-AW -- FL013 -- 6011 11/21/91 15:19 EST
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|Date:||Nov 21, 1991|
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