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Paul J. Bonavia Named Chairman, President and CEO of UniSource Energy

^{Published on 2008-12-11 09:33:27 - Market Wire}
 

TUCSON, Ariz.--([ BUSINESS WIRE ])--The Board of Directors of UniSource Energy Corporation (NYSE: UNS) has named Paul J. Bonavia of Xcel Energy as the company's next Chairman, President and Chief Executive Officer.

The appointment will be effective January 1, 2009, upon the retirement of James S. Pignatelli, who has served as UniSource Energy's Chairman, President and CEO since July 1998.

Bonavia, 57, has served as President of the Utilities Group of Xcel Energy (NYSE: XEL) since 2005. In that role, he has overseen four operating subsidiaries serving more than 3.3 million electric customers and 1.8 million natural gas customers in Colorado, Minnesota and six other states.

Bonavia previously served as president of Xcel Energy's Commercial Enterprises business unit, with responsibility for leading Xcel Energy's core business growth strategy. He also was President of the company's Energy Markets unit.

"Paul's breadth and depth of knowledge of both the electric and gas business makes him an outstanding choice to lead this company," said John L. Carter, lead director and a member of the UniSource Energy Board of Directors since 1996. "His experience and expertise will provide solid leadership and help ensure a smooth leadership transition for UniSource Energy Corporation."

A native of Rockford, Ill., Bonavia and his wife, Pat, currently split their time between Denver and Minneapolis. Before joining Xcel Energy in 2000, Bonavia was Senior Vice President and General Counsel for New Century Energies (NCE) in Denver. NCE was an electric and gas utility that merged with Northern States Power in 2000 to form Xcel Energy.

"I'm honored to take over leadership of a company that has achieved such stability and strength under Jim Pignatelli's direction," Bonavia said. "With the support of the company's dedicated and talented employees, I am committed to maintaining UniSource Energy's focus on providing reliability, service and value to customers, shareholders and the community."

Bonavia has a bachelor's degree from Drake University and a law degree from the University of Miami in Coral Gables, Florida. Prior to his tenure at NCE, he was an attorney with the international law firm of LeBoeuf, Lamb, Greene & MacRae, now Dewey & LeBoeuf. Earlier, he held several senior management positions with Dominion Resources in Richmond, Va.

"UniSource Energy is an outstanding company serving outstanding communities," Bonavia said. "Pat and I are delighted by the opportunity to join such a wonderful organization."

Pignatelli, 65, had served as Senior Vice President and Chief Operating Officer of Tucson Electric Power, UniSource Energy's principal subsidiary, before he succeeded outgoing Chairman, President and CEO Charles Bayless in July 1998.

"Jim is leaving this company in a very strong position," Carter said. "The board of directors is convinced that Paul Bonavia is an outstanding fit for where UniSource Energy is now and where the company needs to be in the future."

UniSource Energy's primary subsidiaries include Tucson Electric Power Company, which serves nearly 400,000 customers in southern Arizona; UniSource Energy Services, provider of natural gas and electric service for about 236,000 customers in northern and southern Arizona; and Millennium Energy Holdings, parent company of UniSource Energy's unregulated energy businesses. For more information about UniSource Energy and its subsidiaries, visit [ www.uns.com ].