CDC Globeleq announces Board of Directors
HOUSTON, 15 January 2004 – CDC Globeleq Limited (“CDC Globeleq”), the emerging markets power company, today announced the addition of three experienced international power executives to the company’s Board of Directors.
John Baker, previous Chief Executive and Chairman of National Power, was appointed Chairman of the Board. Peter Giller, former Chief Executive Officer of International Power and former President of ABB Energy Ventures; and Jacob Worenklein, Chairman and CEO of US Power Generating Company and previous global head of Société Générale’s Project and Sectorial Finance Group, were both appointed Directors.
In addition to the Chairman and the two newly-named Directors, the Board includes two representatives from CDC Group, the sole shareholder of CDC Globeleq; and Robert Hart, CEO of the company.
“John Baker, Peter Giller, and Jacob Worenklein have a wealth of experience in the international power industry,” said Hart. “With the support and guidance of this distinguished Board of Directors, CDC Globeleq’s talented and experienced development and operations teams will pursue opportunities in the emerging markets of Latin America, Africa, and Asia as other power companies exit those markets.”
“The Board of Directors strongly supports CDC Globeleq’s strategy to build an international power operating company focused on emerging markets,” said Baker. “The Board will work closely with the management of the company to ensure its effective implementation.”
“CDC Group fully supports CDC Globeleq’s strategy,” said Andrew Reicher, Chief Investment Officer of the CDC Group plc, the sole shareholder of CDC Globeleq. “The decision to form CDC Globeleq as an independent international power operating company is based on CDC’s guiding principle of directing investments to where they will have a positive impact and generate good returns.”
CDC Globeleq provides power to people and industry in emerging markets. It creates value for its shareholder and co-investors by helping to relieve a critical constraint to economic and social development.
CDC Globeleq has a portfolio of generation and distribution assets with a net capacity of over 2,300 megawatts in Latin America, Africa, and Asia, and is actively engaged in acquiring additional assets. The company’s management team has a wealth of experience in developing and operating power assets in emerging markets.
