FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: December, 1996
MAINE PUBLIC SERVICE COMPANY
(Exact name of registrant as specified in its charter)
Maine 1-3429 01-0113635
(State, or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
209 State Street, Presque Isle, Maine 04769
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, Including Area Code 207-768-5811
Current Report, Form 8-K for Date of Report:
Maine Public Service Company December, 1996
Item 5. Other Material Events
Maine Yankee Atomic Power Company President Resigns
The Chairman of Maine Yankee Atomic Power Company's Board of
Directors, on December 20, 1996, announced the resignation of
Maine Yankee President, Charles D. Frizzle. In announcing Mr.
Frizzle's resignation, the Chairman stated: "It is not the
record of the past, but the requirements of the future that
led the directors to conclude that change was necessary.
After a long and searching discussion, the directors
unanimously decided that Maine Yankee needs new leadership to
deal with deep-rooted cultural issues, a changing regulatory
environment, and unprecedented financial pressures."
The Maine Yankee Board will also appoint a Transition
Committee to oversee all major aspects of transition to new
leadership and will begin a nationwide executive search. Mr.
Frizzle will continue to carry out his duties and assist the
Board in the transition process and will step down when his
successor has been selected in early 1997.
Maine Public Service Company owns 5% of the Common Stock of
Maine Yankee, which entitles it to purchase approximately 4.9%
of the energy produced by the plant, approximately 35% of the
Company's total requirements in 1996.
MAINE PUBLIC SERVICE COMPANY
Registrant
Dated: December 23, 1996 Larry E. LaPlante
Larry E. LaPlante, Vice President
Finance, Administration and Treasurer
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