An Oct. 26 blog posting from Nora Chavez, chairman of the board of Texas municipal CPS Energy, said that over the prior weekend, current CEO Doyle Beneby informed the Board of Trustees he’s declining a proposal to continue as CEO.
“While this is disappointing, we wish Doyle and his family the best of luck in his new role, and thank him for his five years of extraordinary and innovative leadership,” wrote Chavez. “As an aside, I’d also like to clarify some published misconceptions regarding the proposal that we extended to Doyle. The base pay and incentives of the new proposal had not changed from the original one, and at no time was there any consideration that he would reduce the amount of time and focus devoted to the important mission of our company.”
Chavez added: “Beginning November 1, Paula Gold-Williams, currently our Group Executive Vice President, and Chief Financial Officer, will assume the interim CEO role as we continue our search. Paula is a dynamic leader, and I and the rest of the Board offer her our full support and confidence in this critical assignment. Speaking of the search, we have made great progress, and we have a solid slate of candidates for review. Because of the hard work and dedication of our more than 3,000 employees, CPS Energy has become the standard by which many other municipally-owned utilities are compared. We’re confident that we will continue this positive momentum forward, and we remain focused on identifying the ideal person who will lead CPS Energy in this exciting next chapter.”
Beneby announced in August that he plans to resign from the helm of the San Antonio municipal utility as of this fall.
CPS Energy is the nation’s largest municipally-owned natural gas and electric company, providing service to 741,000 electric and 331,000 natural gas customers in the Greater San Antonio area.