UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) May 1, 2007 (April 25, 2007)
WESTAR ENERGY, INC.
(Exact name of registrant as specified in its charter)
KANSAS | 1-3523 | 48-0290150 | ||
(State or other jurisdiction of incorporation or organization) |
(Commission File Number) | (IRS Employer Identification No.) |
818 South Kansas Avenue, Topeka, Kansas | 66612 | |
(Address of principal executive offices) | (Zip Code) |
Registrants telephone number, including area code (785) 575-6300
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
WESTAR ENERGY, INC.
Section 5. Corporate Governance and Management
Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On April 25, 2007, James S. Haines, Jr. announced his intention to retire from our Board of Directors and as our Chief Executive Officer, effective June 30, 2007.
On April 25, 2007, our Board of Directors appointed William B. Moore to the Board as a Class III director effective May 1, 2007, and as our Chief Executive Officer, effective July 1, 2007. Mr. Moore, age 54, is currently our President and Chief Operating Officer and has served in those capacities since March 2006 and December 2002, respectively. From October 2000 to December 2002, Mr. Moore served as senior managing director and senior adviser for Saber Partners, LLC, a financial advisory firm. From April 1992 to August 2000, Mr. Moore held various executive officer positions with us, including serving as Executive Vice President and Chief Financial Officer from May 1999 to August 2000. Mr. Moore held various officer positions with Kansas Gas and Electric Company (KGE) from 1985 to April 1992, when we acquired KGE and it became our wholly owned subsidiary. Mr. Moore joined KGE in 1978 and held a number of finance positions until 1985.
As of the time of the filing of this report, we have not reached any agreement with Mr. Moore concerning his compensation upon becoming Chief Executive Officer.
A copy of our April 25, 2007 press release is attached hereto as Exhibit 99.1 and is incorporated herein by this reference.
Section 9. Financial Statements and Exhibits
Item 9.01. | Financial Statements and Exhibits. |
Exhibit 99.1 | Press Release dated April 25, 2007. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Westar Energy, Inc. | ||||
Date: May 1, 2007 | By: | /s/ Larry D. Irick | ||
Name: | Larry D. Irick | |||
Title: | Vice President, General Counsel and Corporate Secretary |
EXHIBIT INDEX
Exhibit Number |
Description of Exhibit | |
Exhibit 99.1 | Press Release dated April 25, 2007 |
Exhibit 99.1
|
Media contact: Karla Olsen, manager, corporate communications Phone: 888.613.0003 FAX: 316.261.6769 karla.olsen@WestarEnergy.com | |||
Investor contact: Bruce Burns, director, investor relations Phone: 785.575.8227 bruce.burns@WestarEnergy.com |
WESTAR ENERGY BOARD PROMOTES WILLIAM MOORE TO PRESIDENT AND CEO; CEO JAMES HAINES ANNOUNCES RETIREMENT
TOPEKA, Kan., April 25, 2007 The Westar Energy, Inc. (NYSE:WR) board of directors announced today that William Moore, 54, will succeed Chief Executive Officer James Haines. Moore will also become a member of the board May 1, 2007. He currently is president and chief operating officer. Haines announced his retirement as CEO effective June 30, 2007.
The board is pleased to appoint Bill Moore as Westars president and CEO. For several years, the board has been active in succession planning, and we are confident that the company will continue to succeed under Bills leadership, said Charles Q. Chandler, IV, chairman of the board. The board also thanks Jim Haines for his great leadership and unwavering commitment to Westars success.
Moore rejoined Westar Energy in late 2002 from his position as senior managing director and senior adviser for Saber Partners, LLC. His previous years with Westar began in 1978 as a finance assistant. He held numerous financial positions with the company, becoming vice president, finance in 1985, and executive vice president and chief financial officer in 1998 until he left the company in 2000. Upon his return, he served as executive vice president and chief operating officer until 2006 when he became president and chief operating officer.
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Westar Energy board promotes Moore |
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Moore earned his bachelor of business administration degree from Wichita State University in 1974. He currently lives in Wichita but will be relocating to Topeka. He and his wife, Shelly, have two adult sons.
Moore has been very active in the Wichita community where he serves on the executive board of the Wichita Area Chamber of Commerce, is chair of Goodwill Industries, Easter Seals of Kansas, and is on the executive committee of the Wichita University Foundation Board of Directors, among many other civic and charitable activities. He served as the 2004 campaign chair for the United Way of the Plains.
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Westar Energy, Inc. (NYSE: WR) is the largest electric utility in Kansas, providing electric service to about 669,000 customers in the state. Westar Energy has about 6,000 megawatts of electric generation capacity and operates and coordinates approximately 33,000 miles of electric distribution and transmission lines.
For more information about Westar Energy, visit us on the Internet at http://www.WestarEnergy.com.
Forward-looking statements: Certain matters discussed in this news release are forward-looking statements. The Private Securities Litigation Reform Act of 1995 has established that these statements qualify for safe harbors from liability. Forward-looking statements may include words like believe, anticipate, target, expect, pro forma, estimate, intend, guidance or words of similar meaning. Forward-looking statements describe future plans, objectives, expectations or goals. Although Westar Energy believes that its expectations are based on reasonable assumptions, all forward-looking statements involve risk and uncertainty. Therefore, actual results could vary materially from what we expect. Please review our Form 10-K for the period ended Dec. 31, 2006 for important risk factors that could cause results to differ materially from those in any such forward-looking statements. Any forward-looking statement speaks only as of the date such statement was made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement was made except as required by applicable laws or regulations.