CHARLOTTE, N.C., April 13 /PRNewswire-FirstCall/ — Piedmont Natural Gas
(NYSE: PNY) Chairman, President and CEO Thomas E. Skains announced plans today
to restructure the Company’s management group. The restructuring plans are part
of an ongoing, larger effort aimed at streamlining the Company’s business
processes, capturing operational and organizational efficiencies and improving
customer service. The restructuring will begin with an offer of early
retirement for 23 employees in Piedmont’s management group and will eventually
include the further consolidation and reorganization of management positions
and functions within Piedmont.
In making the announcement, Skains noted the many contributions and years of
dedicated service from the Company’s existing management team on behalf of
Piedmont’s customers, shareholders and employees, “Certainly, one of Piedmont’s
greatest strengths over the years has been its consistently strong management
team. The restructuring process we are beginning is a very important step to
ensure that our leadership team is organized to deliver competitive services to
customers in the most efficient manner possible. We are positioning the company
for future success in what is perhaps the most challenging period in the
history of our industry.”
The restructuring plans were unveiled during a meeting Thursday with
approximately 60 members of Piedmont’s management group and through internal
communications to all of Piedmont’s approximately 2,100 employees in North
Carolina, South Carolina and Tennessee. Today’s announcement marks the
beginning of a management restructuring process that will be completed over the
next two to three months.
About Piedmont Natural Gas
Piedmont Natural Gas is an energy services company primarily engaged in the
distribution of natural gas to 990,000 residential, commercial and industrial
utility customers in North Carolina, South Carolina and Tennessee, including
61,000 customers served by municipalities who are wholesale customers. Our
subsidiaries are invested in joint venture, energy-related businesses,
including unregulated retail natural gas marketing, interstate natural gas
storage and intrastate natural gas transportation. More information about
Piedmont Natural Gas is available on the Internet at http://www.piedmontng.com.
SOURCE Piedmont Natural Gas 04/13/2006
/CONTACT: David Trusty of Piedmont Natural Gas, +1-704-731-4391, or
+1-704-507-6393, or david.trusty@piedmontng.com /
/Web site: http://www.piedmontng.com /(PNY) |
