ITC Holdings Corp. Announces New Board Appointments
NOVI, Mich., Dec. 12, 2016 /PRNewswire/ -- ITC Holdings Corp. (ITC) today announced it has appointed five additional members to the new board of directors it formed upon the closing of the acquisition of ITC by Fortis Inc. and GIC Private Limited on Oct. 14, 2016. The appointments are effective Jan. 1, 2017.
The new board members who will provide oversight, governance and strategic guidance are:
Linda H. Blair, President and CEO, ITC Holdings Corp. Ms. Blair was among the founders of ITC and today is responsible for the strategic vision and overall business operation of ITC and its subsidiaries.
Albert Ernst, former Director of Energy Industry Group, Dykema Gossett PLLC. Mr. Ernst's career with Dykema spanned 38 years, preceded by his service as Assistant Attorney General for the State of Michigan.
Sandra E. Pierce, Sr. Executive Vice President, Private Client Group & Regional Banking Director and Chairman of Michigan, Huntington National Bank. Ms. Pierce began her financial services career in 1978 and joined Huntington after its merger with FirstMerit Corporation.
Kevin L. Prust, former Chief Financial Officer and Executive Vice President, The Weitz Company, LLC. Mr. Prust has more than 30 years of financial and accounting experience serving a variety of public and private organizations.
Thomas G. Stephens, former Vice Chairman and Global Chief Technology Officer, General Motors Company. Mr. Stephens was a member of GM's executive committee and previously served as vice chairman, Global Product Operations and oversaw GM's global purchasing organization.
"Our growing board reflects a strong combination of talent and experience that will help guide ITC's direction and growth toward further modernizing the nation's electric infrastructure," said Linda Blair, President and CEO of ITC. "I look forward to working with this excellent team as we pursue the next chapter of the ITC story as a member of the Fortis family of companies."
The newly-named board members join the following individuals who were appointed to ITC's board at the closing of the transaction with Fortis and GIC:
Rhys D. Evenden, Head of Infrastructure–North America, GIC Private Ltd.
James P. Laurito, Executive Vice President, Business Development, Fortis, Inc.
Barry V. Perry, President and Chief Executive Officer, Fortis Inc.
Joseph L. Welch, Chairman of the Board of Directors, ITC Holdings Corp.
About ITC Holdings Corp.
ITC, a Fortis company, is the largest independent electric transmission company in the United States. Based in Novi, Michigan, ITC invests in the electric transmission grid to improve reliability, expand access to markets, allow new generating resources to interconnect to its transmission systems and lower the overall cost of delivered energy. Through its regulated operating subsidiaries ITCTransmission, Michigan Electric Transmission Company, ITC Midwest and ITC Great Plains, ITC owns and operates high-voltage transmission facilities in Michigan, Iowa, Minnesota, Illinois, Missouri, Kansas and Oklahoma, serving a combined peak load exceeding 26,000 megawatts along approximately 15,700 circuit miles of transmission line with 660 employees and nearly 1,000 contractors across its seven state footprint. ITC's grid development focus includes growth through regulated infrastructure investment as well as domestic and international expansion through merchant and other commercial development opportunities. ITC Holdings Corp. common shares are owned 80.1% by Fortis Inc. and 19.9% by GIC Private Limited. Additional information can be accessed at www.itc-holdings.com.
SOURCE ITC Holdings Corp.
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