News Release
FOR IMMEDIATE RELEASE
Media Contact: Charles Coleman, (626) 302-7982
www.edisonnews.com
Investor Relations Contact: Scott Cunningham, (626) 302-2540
www.edisoninvestor.com
Edison International Announces Scilacci, Adler, Finneran Elected to New
Positions
ROSEMEAD, Calif., May 16, 2008 - Three executives have been elected to
senior positions at Edison International (NYSE:EIX) and its subsidiary Edison
Mission Group: W. James (Jim) Scilacci Jr. 52, was named executive vice
president, chief financial officer and treasurer for Edison International
succeeding Thomas (Tom) McDaniel, 59, who is retiring after a distinguished
37-year career with the company; Robert L. Adler, 60, was named executive
vice president and general counsel for Edison International succeeding J. A.
(Lon) Bouknight, 64, who is retiring; and John P. Finneran Jr., 48, was named
senior vice president and chief financial officer for Edison Mission Group
(EMG) succeeding Scilacci. Each will assume these new responsibilities on
August 1.
Scilacci elected executive vice president, chief financial officer and
treasurer for Edison International
"Jim has served as CFO of both our major subsidiaries, Southern
California Edison (SCE) for five years and EMG for three years, has been
involved in or led many of our major financings over the last several years
and headed SCE's 2003 General Rate Case team which makes him the ideal choice
for CFO of Edison International," said Theodore (Ted) F. Craver Jr., 56,
president, Edison International, who will succeed John E. Bryson, 64, as
chairman and CEO effective August 1. "Jim's deep knowledge of the industry
and our businesses means that he will contribute from day one to the senior
management team responsible for realizing the ambitious performance goals we
have set for ourselves at Edison International.""In following Tom into the job, Jim is succeeding someone whose record
of excellent service spans virtually every part of Edison International and
its subsidiaries," Bryson said. "From engineering to customer service to
strategic planning to finance to serving as CEO of both Edison Capital and
Edison Mission Energy, Tom has done it all, and done it superbly."
Scilacci is currently senior vice president and chief financial officer
of EMG. Before assuming his current position at EMG, he was chief financial
officer at SCE from 2000 to 2005. A 24-year veteran at the company, Scilacci
received his B.A. in economics from UCLA and an MBA from Santa Clara
University. He and his wife Linda have three children.
Adler elected executive vice president and general counsel for Edison
International
"Bob and I have worked closely together on several major Edison issues
and transactions over the last 10 years including the required sale of SCE's
12 gas-fired generation plants during deregulation, the Settlement Agreement
with the California Public Utilities Commission to restore SCE's financial
health during the California energy crisis, and the sale of Edison Mission
Energy's international assets as the centerpiece of its financial
restructuring," said Craver. "Bob will head my transition planning activities
beginning July 1 as executive vice president before assuming his additional
role as general counsel on August 1. I have the utmost respect for Bob's
wisdom, experience and above all, his integrity.""Lon Bouknight joined our company in 2005 at a time of great change in
the energy industry. His wise counsel and sound judgment made a significant
contribution to our success. He has served as an invaluable member of our
senior management team, and for 20 years prior to that as one of our
principal outside lawyers," said Bryson. "He is among the most highly
regarded lawyers in the country for his knowledge of and experience in the
energy industry."
Adler has been a partner in the Los Angeles law firm of Munger, Tolles
and Olson LLP since 1978 practicing corporate and business law, and is
currently co-managing partner. Beyond his extensive involvement and
experience with the electric power business and Edison International, his
practice has spanned many industries, including retail, health care,
entertainment, communications and professional sports. He is a magna cum
laude graduate of Harvard University and a cum laude graduate of Harvard Law
School where he served as an officer of the Harvard Law Review. He and his
wife Sara, a professor at Scripps College in Claremont, Calif., have two
adult children.
Finneran elected senior vice president and chief financial officer for Edison
Mission Group
Finneran is currently EMG's senior vice president of business
management, a job which includes managing EMG's partnerships in various power
generation projects, information technology and Edison Capital's investment
portfolio. Finneran joined Edison Mission Energy in 1999 as vice president
and regional chief financial officer for the Americas region. Previously he
was senior vice president of finance and treasurer of Richfood Holdings, a
Fortune 500 food retail and wholesale distribution company. He had served as
a senior financial executive with two East Coast power companies and as an
accountant with Price Waterhouse and KPMG.
Finneran holds a Bachelor of Business Administration from Siena College
and a Master of Science degree in accounting from George Washington
University and is a Certified Public Accountant. He and his wife Dena have
five children.
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Edison International, through its subsidiaries, is a generator and
distributor of electric power and an investor in infrastructure and energy
assets, including renewable energy. Headquartered in Rosemead, California,
Edison International is the parent company of Southern California Edison, the
largest electric utility in California, and Edison Mission Group, a
competitive power generation business and parent company to Edison Mission
Energy and Edison Capital.
