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):
April 27, 1999
TECO ENERGY, INC.
(Exact name of registrant as specified in its charter)
FLORIDA 1-8180 59-2052286
(State or other jurisdiction (Commission file (IRS Employer
of incorporation) Number) Identification
No.)
702 North Franklin Street, Tampa Florida 33602
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (813) 228-4111
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Item 5. Other Events
See the Press Release dated April 27, 1999, filed as Exhibit
99.1 and incorporated herein by reference, announcing that the
Board of Directors of the registrant has elected Robert D. Fagan
as President and Chief Executive Officer effective June 1, 1999.
Item 7. Financial Statements and Exhibits
(c) Exhibits
99.1 Press Release dated April 27, 1999.
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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.
Dated: April 27, 1999 TECO Energy, Inc.
By:/s/ G. L. Gillette
G. L. Gillette
Vice President-Finance,
and Chief Financial Officer
(Principal Financial Officer)
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INDEX TO EXHIBITS
Exhibit No. Description of Exhibits Page No.
99.1 Press Release dated April 27, 1999 5
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Exhibit 99.1
FOR IMMEDIATE RELEASE
CONTACT: Mike Mahoney Office Phone: 813-228-4271
Home phone: 813-991-6222
Internet: www.tecoenergy.com
TECO ENERGY ELECTS ROBERT D. FAGAN AS PRESIDENT AND CEO
Tampa, April 27, 1999 -- The Board of Directors of TECO Energy,
Inc., today announced the election of Robert D. Fagan as President and
Chief Executive Officer, effective June 1. He assumes the CEO duties
of Girard F. Anderson, 67, who will continue as Chairman of the Board
through the end of the year.
Bob Fagan, 54, has served as president of PP&L Global, Inc.,
since 1994. PP&L Global, in Fairfax, Va., is a subsidiary of PP&L
Resources, Inc., a Fortune 500 company based in Allentown, Pa., which
also operates an electric utility serving 1.3 million customers in
Pennsylvania.
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TECO Energy 2
PP&L Global, Inc., is a diversified energy holding company whose
charter is to develop and acquire energy-related assets worldwide.
"The Board of Directors conducted an extensive search to find a
chief executive with the vision and experience to lead our company to
the next level," Anderson said. "We are delighted with our choice."
In addition, the company announced that the position of chief
operating officer is being eliminated. Alan D. Oak, 53, who has
served as executive vice president and chief operating officer since
1997, announced he will leave the company to pursue other interests.
Oak joined the company in 1974, and also served as chief financial
officer for 12 years.
"I have had a great experience here, helping to build the
company and working with a lot of outstanding people," Oak said. "I
will miss them, but I am also looking forward to moving on to new
opportunities."
Anderson said, "Alan has been a major contributor to the
successes we have enjoyed over the years, and we all wish him well."
Fagan brings to TECO Energy a great deal of experience in the
energy business. PP&L Global has ownership interests in electric
power generation
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TECO Energy--3
and in distribution companies serving more than 2 million customers.
"Bob brings a depth of knowledge of diverse energy environments,
from across the United States, Europe and Latin America. That breadth
of experience will serve the company well," Anderson said.
Fagan said he was looking forward to living and working in
Florida. "I have been involved in electric power all around the
country, and Florida is a great place to be in the energy business,"
he said. "I was attracted to TECO because it is a solid company with
great prospects."
Before joining PP&L, Fagan was vice president and general manager
of Mission Energy Company, the power development arm of Edison
International, one of the nation s largest utilities. He was
responsible
for the management of Mission Energy's significant North American
operations.
In addition to his domestic experience, Fagan has extensive
international experience. While he was president of PP&L Global, the
company committed to invest more than $2.3 billion in power projects
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throughout the United States, Europe and South America.
He has two degrees from Dartmouth, a B.A. degree in Engineering
Science and an M.E. degree in Chemical Engineering.
He and his wife, Cynthia, will live in Tampa.
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