ERCOT CEO Announces Plans to Leave in November
Bob Kahn, president and chief executive officer of the Electric Reliability Council of Texas (ERCOT), the grid operator for most of the state, today announced his plans to step down in November.
Kahn, who joined ERCOT in 2007, told the ERCOT board members at today’s monthly meeting that he believed that now was “the right time to leave.”
“I feel good about where the organization is now and can leave knowing that ERCOT is on solid ground and looking good for the future and for the launch of the nodal market in 2010,” Kahn said. “I’ve been very focused the last few months on the budget process for 2010, and I’m pleased that the board approved that budget today,” Kahn said.
“I appreciate the support of this board and the support of the market participants. We couldn’t have done the things we have accomplished without their help,” he said. “And finally, I want to thank the ERCOT employees and staff. They are the best bunch of people – it has been an honor to work with them.”
ERCOT Board Chair Jan Newton recognized Kahn’s contributions and expressed her appreciation personally and on behalf of the board.
“Bob joined ERCOT during a difficult time of transition for the organization,” Newton said. “He successfully navigated ERCOT through many challenges, including helping to get the nodal market implementation back on track. We appreciate what he has accomplished to turn-around ERCOT, re-establishing trust and confidence in the ethics and integrity of this organization. We are very supportive of Bob and will certainly miss him.”
Public Utility Commission Chair Barry T. Smitherman also expressed his appreciation.
“I thank Bob for his service to ERCOT and the Texas electric market over the last several years,” Smitherman said.
No decision on an interim CEO or search plans for a permanent successor has been made yet, but the board and management will be reviewing options over the next month. Kahn said he would be working closely with the board over the next month to ensure a smooth transition to new leadership.
ERCOT is a membership-based 501(c)(4) nonprofit corporation, governed by a board of directors and subject to oversight by the Public Utility Commission of Texas and the Texas Legislature. Its members include consumers, cooperatives, generators, power marketers, retail electric providers, investor-owned electric utilities, transmission and distribution providers and municipally owned electric utilities.