Commerce Energy (AMEX:EGR), a leading U.S. electricity and natural gas
marketing company, announced today that on February 20, 2008 it named
Gregory L. Craig as its Chief Executive Officer and designated him "principal
executive officer” for all of the Company’s
filings with Securities and Exchange Commission. Craig succeeds Steven
S. Boss who resigned as Chief Executive Officer and a director of the
Company on February 20, 2008. Craig also was appointed as a Class III
director of the Corporation and named Chairman of the Board of
Directors. In his role as Chairman, Craig succeeds Dennis R. Leibel who
remains a member of the Board and Chair of the Compensation Committee.
Craig served as Chief Executive Officer of Macquaire Cook Energy
(formerly Cook Inlet Energy Supply, LLC), a multi-billion
Dollar North
American energy supply services company, from November 2005 through
March 2007. From 1992 through November 2005, Craig served as Chief
Executive Officer of Cook Inlet Energy Supply, LLC, a company that he
founded, until it was sold to Macquarie Bank of Sydney, Australia in
November 2005.
In 1996, Craig was selected as one of 20 United States delegates to join
President Bill Clinton, Secretary of Defense Warren Christopher and
Secretary of Commerce Mickey Kantor at the Asian Pacific Economic
Conference in Manila, Philippines. In 1997, Craig was appointed by
Secretary Pena to the National Petroleum Council and in that capacity
also advised several subsequent energy secretaries. In 1998, Craig was
appointed by President Bill Clinton to the President’s
Export Council as one of a select group of CEOs who provide
recommendations to the President on United States export issues. He has
served as a member of the Natural Gas Business Development Roundtable at
the United States Department of Energy.
Craig received his Bachelor of Administration degree from the University
of Alaska and his Master of Business Administration (MBA) from the
University of California at Los Angeles. Craig is Chairman of the Board
of the Price Center for Entrepreneurial Studies at the Anderson Graduate
School of Management and also serves on the Board of Junior Achievement
of Southern California and the Board of the Weingart Center.
"We are extremely pleased to announce the
appointment of Greg Craig as our Chief Executive Officer and our
Chairman of the Board,” said Leibel. "We
are fortunate to be able to attract Greg at this point in Commerce Energy’s
history. Greg’s experience, contacts and
stellar reputation in the energy industry and financial markets combine
to address the Company’s continuing goal to
increase stockholder value.”
Speaking on behalf of the Company’s Board of
Directors, Leibel went on to say, "We thank
Steve Boss for his contributions and service to the Company.” About Commerce Energy Group, Inc.
Commerce Energy Group, Inc. (Commerce) is a leading independent U.S.
electricity and natural gas marketing company, operating through its
wholly-owned subsidiaries Commerce Energy, Inc. and Skipping Stone Inc.
Commerce is publicly traded on the American Stock Exchange (Amex) under
the symbol EGR. Commerce Energy, Inc. is licensed by the Federal Energy
Regulatory Commission and by state regulatory agencies as an unregulated
retail marketer of natural gas and electricity to homeowners, commercial
and industrial consumers and institutional customers.
Headquartered in Orange County, California, the Company also has an
office in Dallas, Texas, as well as several area offices located around
the U.S. For nearly a decade, customers have relied on Commerce to
deliver competitive pricing, innovative product offerings and
personalized customer service, in addition to quality gas and electric
services. For more information, visit www.CommerceEnergy.com.