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Allegheny Power has new president

August 20, 2003|by JULIE E. GREENE

Allegheny Energy has named another new high-ranking executive.

Joseph H. Richardson will become president of Allegheny's energy delivery business, Allegheny Power, on Aug. 25, according to a company news release.

Richardson has been president and chief executive officer of Global Energy Group since 2002, the release states. Global Energy develops and patents technology to improve energy efficiency.

Before that, Richardson served as president, chief executive officer and chief operating officer of Florida Power Corp., the release states.

Richardson's hiring package includes an inducement award of 50,000 stock units in January, the release states.

He may get more stock if the stock's closing price on Jan. 2 reaches a certain mark, according to a U.S. Securities and Exchange Commission filing.

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Allegheny Energy spokeswoman Cynthia Shoop could not be reached Tuesday for further information.

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