Business & Finance
Business and Finance
Business and Finance
Fri, January 16, 2009
Thu, January 15, 2009 WGL Holdings Announces Retirement of Shelley C. Jennings, Corporate Treasurer
WASHINGTON--([ BUSINESS WIRE ])--WGL Holdings, Inc. (NYSE:WGL), parent of Washington Gas Light Co. (Washington Gas) announced that Shelley C. Jennings, corporate treasurer, will resign her position effective Feb. 13, 2009. The boards of directors of the companies have elected Anthony Nee to succeed Jennings as treasurer.
Jennings retires after more than 30 years of service to Washington Gas and its affiliated companies. She is responsible for maintaining corporate liquidity and commercial and investment banking relationships, and for managing benefit plan funding. She also directs financial planning and manages compliance with the Sarbanes-Oxley Act of 2002, for WGL Holdings and Washington Gas, including monitoring internal controls over financial reporting.
"We are fortunate to have had the benefit of Shelley's deep knowledge of and experience in financial markets, especially during this recent time of market distress," said Vincent Ammann, vice president and chief financial officer for WGL Holdings and Washington Gas. "We have made significant improvements in our long-range financial planning and funding our cash requirements due to the strong, focused leadership Shelley has provided to the treasury function over the years."
Jennings began her career with Washington Gas in 1978 and has held progressively responsible positions in finance and accounting. She also managed customer services and procurement operations. She was elected treasurer in 1999.
She earned her M.B.A. from George Washington University and her B.A. in Political Science from Wake Forest University. She holds the designation Chartered Financial Analyst (CFA) and is a member of The CFA Institute and The CFA Society of Washington, where she previously served as an officer and director.
"As a result of our focus on leadership development, we are in a position to name an outstanding successor to Shelley Jennings," said Ammann. "Tony Nee is an excellent choice because he has proven his abilities through numerous achievements in the financial arena prior to, and since, joining our company."
Nee is a native of Pittsburgh, Pa., where he started his career as a CPA, spending 10 years in Public Accounting. After leaving the Pittsburgh office of Arthur Young, he began a 20-year career in the natural gas and electric power industries. During that time, he held increasingly responsible roles in internal audit, controls management and risk management.
Nee joined Washington Gas in 2003, overseeing compliance with Sarbanes-Oxley requirements and the energy risk management function. He also was responsible for the management of the insurance function. Most recently, Nee assumed additional responsibilities for management of the company's asset management program.
Nee is a graduate of The Pennsylvania State University where he earned a B.S. in Accounting. He is a member of the Pennsylvania Institute of Certified Public Accountants and the American Institute of Certified Public Accountants.
He has two sons and resides in Gaithersburg, Md.
Headquartered in Washington, D.C., WGL Holdings has three operating segments: (i) the regulated utility segment which primarily consists of Washington Gas, a natural gas utility that serves over one million customers throughout metropolitan Washington, D.C., and the surrounding region; (ii) the retail energy marketing segment which consists of Washington Gas Energy Services, Inc., a third-party marketer that competitively sells natural gas and electricity; and (iii) the design-build energy systems segment, which consists of Washington Gas Energy Systems, Inc., a provider of design-build energy efficiency solutions to government and commercial clients. Additional information about WGL Holdings is available at wglholdings.com.
