Calpine Announces New Chief Commercial Officer, Succession Plan for Chief Accounting Officer

Calpine Corporation (NYSE:CPN) has named W.G. “Trey” Griggs III its Executive Vice President and Chief Commercial Officer effective June 1, 2015. Previously Mr. Griggs was a Managing Director at Goldman Sachs & Co. At Calpine, Mr. Griggs will have responsibility for the trading, origination, development and commercial analytics groups and will report to Calpine’s Chief Executive Officer.

“I am very pleased to welcome Trey as the newest member of our executive management team. His energy trading and origination experience make him well qualified to lead our talented commercial team, particularly as we continue to build our customer-focused initiatives,” said Calpine’s President and Chief Executive Officer Thad Hill.

For the past four years, Mr. Griggs led Goldman Sachs’ North American Energy Risk Management activities and the Houston Trading Office. Prior to that, he served in various roles with the Goldman Sachs commodities group in New York. From 1995-2000, he was an attorney at law firms in Houston and Greenville, S.C. Mr. Griggs holds an MBA from the Wharton School at the University of Pennsylvania, a JD from University of Houston School of Law, and a BA from Vanderbilt University.

Calpine also announced succession plans for Jim Deidiker, Senior Vice President and Chief Accounting Officer (CAO), who is planning to retire. Jeff Koshkin, currently Vice President and Controller, will succeed Mr. Deidiker on August 1. Mr. Deidiker has agreed to remain at the company in a consultative capacity until March 15, 2016.

Mr. Koshkin joined Calpine in 2008 and has served in a number of leadership roles including Controller for Commercial and Derivative Accounting and Controller for Corporate and Plant Accounting, as well as in interim roles heading Financial Planning and Analysis and as Chief Risk Officer. Prior to Calpine, Mr. Koshkin was a Senior Manager in the Regulatory and Capital Markets practice for Deloitte and Touche, LLP. Mr. Koshkin holds a master’s degree in Professional Accounting from the University of Texas at Austin. He is a Certified Public Accountant and a member of the American Institute of Certified Public Accountants and the Texas Society of Certified Public Accountants.

“Over the past seven years, Jeff has been a very effective leader in his various roles within the CFO organization. These skills, coupled with his broad professional accounting experience, make him very well suited to assume the CAO role,” said Executive Vice President and Chief Financial Officer Zamir Rauf, to whom Mr. Koshkin will report. “I would also like to thank Jim for his invaluable service to Calpine. Under his very capable leadership since 2009, Calpine has built a first-class accounting operation with the right people, processes and controls that have helped hone our focus on fiscal discipline, and I wish him the very best during his retirement.”