Experienced energy executive brings over two
decades of financial expertise
PORTLAND, Ore., June 15,
2023 /PRNewswire/ -- Portland General Electric (PGE)
(NYSE:POR) today announced the appointment of Joseph (Joe) Trpik as chief financial officer
and senior vice president, effective June
30, 2023. Trpik will succeed PGE's CFO, Jim Ajello, who previously announced plans to
retire and will serve as a senior advisor through August 31, 2023.
"We are pleased to welcome Joe to PGE," said Maria Pope, president and CEO. "At a time when
the energy industry is becoming more complex, Joe's deep industry
and financial expertise will be invaluable as we invest for growth,
manage costs and deliver safe, reliable, affordable and clean
energy."
Trpik comes to PGE with more than 20 years in senior leadership
with Exelon, one of the nation's largest utility companies serving
over 10 million customers, where he served most recently as senior
vice president and chief accounting officer. He previously was
senior vice president and chief financial officer of Exelon
Utilities as well as senior vice president and chief financial
officer of ComEd, Exelon's largest utility subsidiary. In these
roles, Trpik had direct responsibility for financial planning and
analysis, capital allocation, cost management, risk management,
financial systems, accounting, tax and investor communications,
among other functions. Trpik holds Bachelor of Science degrees in
Finance and Accounting from Florida State
University.
"I am thrilled to join PGE at a pivotal moment as the
company is both leading the clean energy transition and building a
smarter, more integrated grid," said Trpik. "I look forward to
working with the team to build on PGE's momentum, driving growth
and creating value for shareholders and customers alike."
Source: Portland General Company
About Portland General Electric Company
Portland
General Electric (NYSE: POR) is a fully integrated energy company
that generates, transmits and distributes electricity to over
900,000 customers in 51 cities across the state of Oregon. For more than 130 years, Portland
General Electric (PGE) has powered the advancement of society,
delivering safe, affordable, reliable and increasingly clean
energy. To deliver on its strategy and meet state targets, PGE and
its approximately 3,000 employees are committed to partnering with
stakeholders to achieve at least an 80% reduction in greenhouse gas
emissions from power served to customers by 2030 and 100% reduction
by 2040. PGE customers set the standard for prioritizing clean
energy with the No. 1 voluntary renewable energy program in the
country. Additionally, for the fifth year in a row, PGE was
recognized by the Bloomberg Gender-Equality Index which highlights
companies committed to creating a more equal and inclusive
workplace. As a reflection of the company's commitment to the
community it serves, in 2022, PGE employees, retirees and the PGE
Foundation donated nearly $5.5
million and volunteered more than 18,000 hours with more
than 400 nonprofits across Oregon.
For more information visit www.PortlandGeneral.com/news.
Safe Harbor Statement
Statements in this press release
that relate to future plans, objectives, expectations, performance,
events and the like may constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements include statements regarding the
company's investments in projects that advance its decarbonization
strategy and other sustainability goals as well as other statements
containing words such as "anticipates," "believes," "intends,"
"estimates," "promises," "expects," "should," "conditioned upon,"
and similar expressions. Investors are cautioned that any such
forward-looking statements are subject to risks and uncertainties,
including, without limitation: demand for electricity; the sale of
excess energy during periods of low demand or low wholesale market
prices; operational risks relating to the Company's generation
facilities, including hydro conditions, wind conditions, disruption
of fuel supply, and unscheduled plant outages, which may result in
unanticipated operating, maintenance and repair costs, as well as
replacement power costs; failure to complete capital projects on
schedule or within budget, or the abandonment of capital projects,
which could result in the Company's inability to recover project
costs; the costs of compliance with environmental laws and
regulations, including those that govern emissions from thermal
power plants; changes in weather, hydroelectric and energy markets
conditions, which could affect the availability and cost of
purchased power and fuel; the development of alternative
technologies; changes in capital and credit market conditions,
which could affect the access to and availability of cost of
capital and result in delay or cancellation of capital projects or
execution of the Company's strategic plan as currently envisioned;
the outcome of various legal and regulatory actions; general
economic and financial market conditions; severe weather
conditions, wildfires, and other natural phenomena and natural
disasters that could result in operational disruptions,
unanticipated restoration costs, or liability for third party
property damage; cyber security breaches of the Company's customer
information system or operating systems, data security breaches, or
acts of terrorism, which could disrupt operations, require
significant expenditures, or result in claims against the Company;
PGE business activities are concentrated in one region and future
performance may be affected by events and factors unique to
Oregon; and widespread health
emergencies or outbreaks of infectious diseases, which may affect
our financial position, results of operations and cash flows. As a
result, actual results may differ materially from those projected
in the forward-looking statements.
CONTACT:
PGE Communications Team
pgecommunications@pgn.com
503.464.2067
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SOURCE Portland General Company