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FORM 8-K
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
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Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (date of earliest event Reported) March 16, 1995
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THE COLUMBIA GAS SYSTEM, INC.
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(Exact name of registrant as specified in its charter)
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<S> <C> <C>
Delaware 1-1098 13--1594808
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(State of other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
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20 Montchanin Road, Wilmington, Delaware 19807
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(Address of principal executive offices)
Registrant's telephone number, including area code (302) 429-5000
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Item 5. Other Events
Information contained in a News Release dated March 15, 1995 is
incorporated herein by reference.
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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.
The Columbia Gas System, Inc
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(Registrant)
By /s/ R. E. Lowe
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R.E. Lowe
Vice President and
Controller
Date: March 16, 1995
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Contacts: Media - H. W. Chaddock (302) 429-5261
W. R. McLaughlin (302) 429-5443
Analysts - T. L. Hughes (302) 429-5363
K. P. Murphy (302) 429-5471
FOR IMMEDIATE RELEASE March 15, 1995
RICHARD ELECTED CHAIRMAN, CEO AND PRESIDENT OF COLUMBIA GAS
EFFECTIVE APRIL 28, 1995; CROOM TO RETIRE AFTER 41 YEARS' SERVICE
WILMINGTON, DEL. -- The Board of Directors of The Columbia Gas System,
Inc., (NYSE:CG) today elected Oliver G. Richard III, 42, chairman, CEO and
president of the Corporation, effective April 28, 1995. He succeeds John H.
Croom, 62, who will retire after almost 41 years with Columbia.
In announcing the election, Dr. William E. Lavery, an outside director
and chairman of the Board of Directors' search committee, said that the Board's
action is in accordance with an announcement made two years ago that Croom
intended to retire when the Corporation's Chapter 11 bankruptcy proceedings
were further advanced.
Both the Corporation and its principal pipeline subsidiary, Columbia
Gas Transmission Corporation, expect to file plans of reorganization prior to
April 18, the date that the companies' exclusive rights to file reorganization
plans expire. They have been operating as debtors-in-possession under Chapter
11 since July 31, 1991.
"The Board of Directors is confident it has found the right candidate
to lead Columbia in the post-bankruptcy period," Dr. Lavery said. "Columbia is
fortunate to attract someone who has Mr. Richard's breadth and blend of
experience and proven track record."
Dr. Lavery expressed the appreciation of the Board of Directors for
Croom's leadership and service throughout his tenure as chairman and CEO, and
particularly during the bankruptcy proceedings.
Dr. Carl Stern, co-chairman of the Official Committee of Equity
Security Holders in Columbia's bankruptcy proceedings, said the Committee
"enthusiastically supports the selection of Mr. Richard and believes that he
has the right combination of
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regulatory and industry expertise to successfully lead the company in the years
ahead."
Commenting on his election, Richard said he has long been impressed
with Columbia's fine reputation and the growth opportunities that it has
available throughout its market area. "I look forward to continuing the
development of the intellectual and physical assets that have made Columbia a
leader in today's competitive environment."
Richard joins Columbia from New Jersey Resources Corp. (NJR) where he
is chairman, president and CEO. He joined NJR in 1991 after four years with
Enron Corporation, where his last assignment was president and CEO of Northern
Natural Gas Company, an Enron pipeline subsidiary.
Prior to that time he served two years as vice president and general
counsel for Tenngasco, a subsidiary of Tenneco Corporation, and was a member of
the Federal Energy Regulatory Commission from 1982 to 1985. While at the
Commission, he received the Distinguished Service Medal from the U.S. Secretary
of Energy.
Richard holds both a law degree from Louisiana State University and a
masters of law in taxation from Georgetown University and was a partner in the
Lafayette, La., firm of Hayes, Durio and Richard in 1981 and 1982. He also
served as legislative assistant for energy to U. S. Senator Bennett Johnston
from 1977 to 1981. He is a member of the National Petroleum Council and a
board member of the American Gas Association. Richard also serves on the
boards of National Westminster Bank USA, and Monmouth College and Monmouth
Medical Center.
Croom joined Columbia in 1954 after graduating from North Carolina
State University and held management positions in Charleston, W.Va., Columbus,
Oh., and Wilmington before being elected System president in 1982. He was
elected to his present positions in August 1984.
Croom is a director of the National Petroleum Council and AEGIS
(Associated Electric and Gas Insurance Services Limited). He also served on
the board of directors and was first vice chairman on the American Gas
Association and is former board chairman of the Gas Research Institute.
The Columbia Gas System, Inc., is one of the nation's largest natural
gas systems. Subsidiary companies are engaged in the exploration, production,
purchase, storage, transmission and distribution of natural gas and other
energy operations such as cogeneration.
