Portland, Ore., Oct. 20,
2023 /PRNewswire/ -- John
O'Leary has been appointed to the Portland General Electric
(NYSE:POR) ("PGE" or the "Company") board of directors, effective
January 1, 2024.
"We are pleased to welcome John to the PGE Board," said
Jim Torgerson, chair of PGE's board
of directors. "John brings deep financial expertise and is at the
forefront of the commercial vehicle industry as it transforms and
accelerates production of zero-emission vehicles. A seasoned
executive and Oregon business
leader, John will help us further our operating performance and
position the company during period of rapid change."
O'Leary comes to PGE with more than 35 years of leadership and
financial experience for truck and electronics manufacturers,
including over 20 years of senior leadership experience with
Daimler Truck Holding AG, where he is currently a member of the
board of management as well as president and chief executive
officer of Daimler Truck North America (DTNA). O'Leary is
responsible for all aspects of DTNA and its affiliated companies,
including Freightliner trucks, Western Star trucks, Thomas Built
Buses, Freightliner Custom Chassis Corporation, and Detroit Diesel
Corporation. With his understanding of the confluence of the energy
and transportation industries, he has helped to accelerate the
development of zero-emission commercial vehicles. O'Leary is based
at DTNA headquarters in Portland.
Before stepping into his current role, O'Leary served most
recently as chief transformation officer and head of Mercedes-Benz Trucks. He was also previously
senior vice president and chief financial officer at DTNA, with
responsibility for operational and strategic controlling, treasury,
tax, and IT functions.
O'Leary will serve on the Audit and Risk Committee and the
Finance Committee.
About Portland General Electric Company
Portland General Electric (NYSE: POR) is a fully integrated
energy company that generates, transmits and distributes
electricity to over 900,000 customers in 51 cities across the state
of Oregon. For more than 130 years, Portland General
Electric (PGE) has powered the advancement of society,
delivering safe, affordable, reliable and increasingly clean
energy. To deliver on its strategy and meet state targets, PGE and
its approximately 3,000 employees are committed to collaborating
with stakeholders to achieve at least an 80% reduction in
greenhouse gas emissions from power served to customers by 2030 and
100% reduction by 2040. PGE customers set the standard for
prioritizing clean energy with the No. 1 voluntary renewable energy
program in the country. Additionally, for the fifth year in a row,
PGE was recognized by the Bloomberg Gender-Equality Index which
highlights companies committed to creating a more equal and
inclusive workplace. As a reflection of the company's commitment to
the community it serves, in 2022, PGE employees, retirees and
the PGE Foundation donated nearly $5.5
million and volunteered more than 18,000 hours with more than
400 nonprofits across Oregon. For more information
visit www.PortlandGeneral.com/news.
Safe Harbor Statement
Statements in this press release
that relate to future plans, objectives, expectations, performance,
events and the like may constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements include statements regarding the
company's investments in projects that advance its decarbonization
strategy and other sustainability goals as well as other statements
containing words such as "anticipates," "believes," "intends,"
"estimates," "promises," "expects," "should," "conditioned upon,"
and similar expressions. Investors are cautioned that any such
forward-looking statements are subject to risks and uncertainties,
including, without limitation: demand for electricity; the sale of
excess energy during periods of low demand or low wholesale market
prices; operational risks relating to the Company's generation
facilities, including hydro conditions, wind conditions, disruption
of fuel supply, and unscheduled plant outages, which may result in
unanticipated operating, maintenance and repair costs, as well as
replacement power costs; failure to complete capital projects on
schedule or within budget, or the abandonment of capital projects,
which could result in the Company's inability to recover project
costs; the costs of compliance with environmental laws and
regulations, including those that govern emissions from thermal
power plants; changes in weather, hydroelectric and energy markets
conditions, which could affect the availability and cost of
purchased power and fuel; the development of alternative
technologies; changes in capital and credit market conditions,
which could affect the access to and availability of cost of
capital and result in delay or cancellation of capital projects or
execution of the Company's strategic plan as currently envisioned;
the outcome of various legal and regulatory actions; general
economic and financial market conditions; severe weather
conditions, wildfires, and other natural phenomena and natural
disasters that could result in operational disruptions,
unanticipated restoration costs, or liability for third party
property damage; cyber security breaches of the Company's customer
information system or operating systems, data security breaches, or
acts of terrorism, which could disrupt operations, require
significant expenditures, or result in claims against the Company;
PGE business activities are concentrated in one region and future
performance may be affected by events and factors unique
to Oregon; and widespread health emergencies or outbreaks of
infectious diseases, which may affect our financial position,
results of operations and cash flows. As a result, actual results
may differ materially from those projected in the forward-looking
statements.
CONTACT:
PGE Communications Team
pgecommunications@pgn.com
503.464.2067
Source: Portland General Company
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SOURCE Portland General Company