North Carolina's Electric Cooperatives Announce New CEO

RALEIGH, N.C., Jan. 11, 2012 /PRNewswire-USNewswire/ -- North Carolina Electric Membership Corporation's (NCEMC) Board of Directors has named Joseph (Joe) P. Brannan, Senior Vice President of Power Supply and Chief Operating Officer of the NC Electric Membership Corporation, to the position of Chief Executive Officer of the organization and affiliated companies, headquartered in Raleigh, N.C.  He will succeed Richard (Rick) K. Thomas, who has led the company since 2006 and recently announced his retirement effective at the end of April 2012.

NCEMC Board President Donnie Spivey said, "Rick Thomas has served the membership of the electric cooperatives with great distinction and has prepared staff for a successful transition." Spivey continued, "Joe possesses the knowledge and talent to continue to move this company forward in order to meet the energy needs of our members.  We look forward to working with him in his new position as we strive to meet future challenges in today's demanding business climate." 

After the board president announced his appointment, Brannan said, "I am honored to be selected for the position and excited to face the challenges ahead in the electric utility industry. I appreciate and am grateful to be given the opportunity to build upon the successes achieved at NCEMC under Rick Thomas' leadership. I believe that my more than two decades of utility and industry experience have prepared me to serve the member-owned cooperatives of North Carolina."

Thomas, the departing CEO said, "I very much appreciated the opportunity to lead the North Carolina statewide cooperatives for the past six years. During that time, we have, through NCEMC, developed a power supply strategy that can help to mitigate cost increases in the industry-wide rising cost environment. In addition, through NCAEC, we have improved many trade association services and other related services of value to our member cooperatives. These efforts are the keystone to providing long-term affordable and reliable power to our members throughout North Carolina. 

"Selecting Joe Brannan as EVP & CEO provides our members with an experienced leader who is prepared to address the electric utility industry's challenges of the future," Thomas added.

Over the last several years as COO, Brannan has provided leadership, guidance and assistance to the CEO concerning corporate development, planning and management effectiveness.

Throughout his career in the electric utility and energy industry, Brannan has experienced various areas of utility operations and management, risk management, energy trading and marketing operations. Prior to joining NCEMC in 2006, he held several management positions at ACES Power Marketing (APM), PPL Corporation and its Energy Marketing affiliates. 

In addition to his years of diverse experience within the energy industry, Brannan holds a B.S. degree in Electrical Engineering from Pennsylvania State University and a Master of Business Administration from Lehigh University.

North Carolina's electric cooperatives include the 26 distribution cooperatives across the state; North Carolina Electric Membership Corporation, one of the nation's largest generation and transmission cooperatives; North Carolina Association of Electric Cooperatives (NCAEC), the trade association that provides services to the 26 distribution cooperatives; GreenCo Solutions, a green services company; and Tarheel Electric Membership Association, Inc.(TEMA), a cooperative providing central purchasing and materials supplies for the 26 distribution cooperatives in North Carolina and Virginia. All four organizations are located in Raleigh, N.C.

North Carolina's electric cooperatives provide energy to 2.5 million people in 93 of the state's 100 counties, primarily in the rural areas of the state. The electric cooperatives own and maintain 97,000 miles of power lines, the most of any electric utility in North Carolina.

SOURCE North Carolina's electric cooperatives