Nationwide Search Yields New ERCOT CIO and CMO

Austin – During its monthly Board of Director's meeting, the Electric Reliability Council of Texas, Inc. (ERCOT) today announced the hire of a Chief Information Officer and a Chief of Market Operations. Kenneth Shoquist, formerly the CIO of Dell Financial Services, was introduced to the Board as ERCOT's new Chief Information Officer. Raymond Giuliani, Jr., formerly the CFO of Gridsouth Transco LLC (Charlotte, North Carolina) was introduced as ERCOT's new Chief of Market Operations.

Both men will report to ERCOT CEO, Tom Noel who said he couldn't be more pleased with the results of ERCOT's intensive, nationwide search to fill the two vacancies. "It was an exceptional day for us when both Ray and Ken accepted offers to join the ERCOT team," said Noel. "Both men have outstanding professional backgrounds and track records. Cumulatively, they bring more than 50 years of experience to ERCOT. We just couldn't be more excited about ERCOT's future now that these two gentlemen are on board."

Giuliani will have oversight for all wholesale and retail market facing functions for ERCOT. Working in partnership with ERCOT's Information Technology organization, he will be responsible for providing leadership in defining and delivering key support services (including settlements, billing, and centralized retail registration) to all market participants in the Texas Choice Program. Prior to his tenure with Gridsouth, he held various positions with organizations located in the southeastern United States including Perform.com, IBM Global Services, and Exchange Development Company LLC. He is a Certified Public Accountant (CPA), and holds a BS Degree from the Georgia Institute of Technology in Industrial and Systems Engineering and an MBA from Stanford University.

Shoquist holds an MS from Texas Tech University in Mathematics and Computer Science and a BS Degree from Texas A&M University (Kingsville) with the same concentration. Prior to his tenure at Dell Financial Services, he held positions with Fidelity Investments, Litlenet, Mastercard International, Ameritech, and Texas Instruments. At ERCOT he will be responsible for leading and managing ERCOT's Information Technology organization, and for the direction, development, and operations of all information systems supporting the Texas Choice Program. Both Shoquist and Giuliani will join Noel, COO Sam Jones, CFO Maxine Buckles, and General Counsel Margaret Pemberton as officers of ERCOT.

The effort to add two key additions to its leadership team began earlier this spring, when ERCOT hired the Feld Group to assist in identifying problem areas within the organization and to offer recommendations for an organizational structure that would strengthen ERCOT for the future. During Feld's eight-month assignment that will end in December, Monte Jones, has served as interim CIO, providing his staff and him with first-hand opportunities to define ERCOT's requirements, together with the skills and capabilities that were needed to supplement existing staff. This effort included assisting ERCOT with its search for the high profile positions. "We are very confident that we have hired the right persons for these two jobs," said Jones, referring to Shoquist and Giuliani, "and the Feld Group is committed to helping ERCOT make a smooth transition to this new leadership over the next two months."

Once a determination was made that the new ERCOT organizational structure required additional executive leadership, ERCOT hired the Chicago-based executive search firm, Russell Reynolds Associates, Inc. to conduct the search. Founded in 1969, Reynolds conducts senior executive and Board of Director recruiting assignments in a range of industries for public and private organizations of all sizes. Approximately 60 prospects were identified and evaluated before the field was narrowed to 15 profiles that more exactly matched the job descriptions. The field was later narrowed to six candidates who were invited to Austin for interviews with ERCOT and the Feld Group staff. Eventually, Giuliani and Shoquist were offered the positions. Both men will begin their tenures at ERCOT on or before December 1st of this year and will maintain offices at ERCOT's Taylor location.